FUSE In The News
Since these professionals have become essentially the gatekeepers to pretty much everybody, firms are devoting lots of resources to learn how FAs think, like buying research from the likes of FUSE and Penton on the subject.
Article Published on March 6, 2013
The problem for managers is that the answer is not always clear-cut, even to the manager. Disparity in rates paid to different distributors may not be a problem, since the scale and quality of services each
delivers to end clients may vary, based on their size, systems and other factors, says Neil Bathon, founder of Fuse Research, a strategic consultancy in Boston.
Article Published on March 5, 2013
“The distribution team Jon Baum put together certainly seemed to be working, as Dreyfus had begun to emerge from an extended period of relative obscurity having strung together a few years of positive net sales,“Neil Bathon, founder of Fuse Research Network, writes in an e-mail response to questions.
Article Published on February 28, 2013
A partnership between FUSE Research Network and Penton’s WealthManagement.com has been forged to provide asset managers with these vital clues for competitiveness.
Article Published on February 27, 2013
Almost half of mutual fund firms plan to add muscle to their wholesaling arm this year, according to Fuse Research Network’s benchmark research on distribution.
In fact, 48% of firms plan to add to their internal staff and 40% of firms plan to add to their field wholesale staff, according to Fuse. Fuse conducted an online survey of distribution staff at 25 firms and
interviewed distribution heads at these companies last summer.
Article Published on February 21, 2013
Economies of scale could partly explain the gap between the fees. Vanguard's huge size allows it to negotiate "a far better price when hiring money managers than anyone else," said T. Neil Bathon of Fuse
Research Network. Kasilag’s lawyers argue that the fee disparity reveals that Hartford’s subadvisory fee wasn’t a product of successful “arm’s-length bargaining” with Wellington as the Gartenberg standard requires.
Article Published on February 21, 2013
Among firms with more than $100 billion in assets under management, 65% have staff dedicated to CRM and database systems to support sales and marketing firms, according to a report produced by a partnership between SwanDog and Fuse Research Network in 2012.
Article Published on February 13, 2013
The broader reach of marketing departments within the fund industry is one of the 10 trends identified by Fuse Research Network for 2013.
Article Published on February 5, 2013
“If the fund hasn’t reached critical scale … and didn’t perform up to expectations, it is sound business practice to eliminate [it],” says Michael Evans, director of Research at Fuse Research Network. “Having
small funds can certainly impact the profitability of a firm.”
Article Published on January 28, 2013
The growth of retail alternatives strategies is one of the main industry trends for 2013, according to Fuse Research Network.
Article Published on January 25, 2013
Hiring Picks Up as Key Accounts Role Evolves
In fact, in a survey of roughly two dozen fund firms conducted last fall, Fuse Research Network found that more than 40% plan to tack on more national accounts team members in the coming months, as reported.
Article Published on January 22, 2013
The projection is one of 10 trends identified by Fuse Research Network. With the flows being projected by the firm, 2013 stands to be the second consecutive year of solid industry net sales.
Article Published on January 17, 2013
FUSE Tries to Predict 2013
FUSE Research Network, though, gives it a go in predicting 10 trends to look for in the mutual fund industry in 2013.
Article Published on January 17, 2013
In the coming year, fee pressure from distributors will make the calculus behind share class offerings even more complex, more shops will staff up their key accounts teams, and rep-as-portfolio manager programs will continue to swell.
Those are among some of the forecasts from Fuse Research affecting key account executives. The firm has unveiled its list of 10 industry trends to watch in 2013.
Article Published on January 15, 2013
“Firms are looking to make sure that they are running as efficiently as possible and streamlining their operations,” says Neil Bathon, founder of Fuse Research Network.
Article Published on December 27, 2012
“There is good reason to be more sensitive to try to promote from within,” says Neil Bathon, founder of Fuse Research Network. “If you don’t show that you are going to, you are going to lose people.
Article Published on December 26, 2012
FUSE Research announced the publishing of its 2012 comprehensive product management and development benchmark of the asset management industry.
Article Published on December 20, 2012
Companies can add new share classes to suit certain types of distributor needs, but that exercise is costly. Simply refusing to sign is another option, but asset managers risk being shut out of conferences or
getting access to data. “The firms that have the clout may be able to do that,” says Neil Bathon, founder of strategic consultancy Fuse Research Network. But increased adoption of boutique managers for niche strategies and alternatives has eroded some of the power the larger managers once wielded, he says.
Article Published on December 18, 2012
Firms Should Keep an Eye on Aging Funds: Study
In the aggregate, mutual funds tend to bleed assets on or after their tenth anniversary, according to Fuse Research Network. Funds launched since 2000 reached their peak in terms of sales between their first and sixth years. After that, between years seven and nine, funds saw their flows taper off.
Article Published on December 7, 2012
Cost Control Contributes to Firms’ Q3 Profit Growth
“There are areas within fixed income that can attract higher fees than others, but in the aggregate equity products have higher revenue than fixed income is going to have,” says Mike Evans, president of Fuse Research Network.
Article Published on December 4, 2012
Multi-Asset Funds Take More Teamwork: Managers
Asset managers must be careful not to reach far beyond their investment teams’ expertise, but those that can effectively create products that draw from multiple investment specialties stand to win out. “There is no question that [distributors’] interest in those types of products has grown,” says Mike Evans, president of consultancy Fuse Research Network.
Article Published on December 4, 2012
Industry On Pace for Near-Record Year of Growth
The bulk of flows go to a limited group of firms and products, Neil Bathon, founder of Fuse Research Network, writes in an e-mail response to questions.
Article Published on November 26, 2012
Russell Goes All In-House for New Retail Fund
The fund is managed by the same four-person team that has controlled the proprietary strategy Russell has offered its institutional clients since 2010. That signifies the ever-blurring lines between institutional and retail markets, says Sam Campbell, director of research at Fuse Research Network.
Article Published on November 20, 2012
TDFs Lead Growth in Target Portfolios
Growth in target-date funds is expected to increase 21% between the end of 2011 and 2016, a study conducted by BrightScope with Fuse Research Network, an asset management research and consulting firm, found. Market share in defined contribution plans should increase from 76% in 2011 to 80% in 2016.
Article Published on November 12, 2012
Firms Fine-Tune Marketing Strategies: Study
The attempt to optimize marketing resources is one of the trends identified in a recently released study based on a survey of 29 chief marketing officers or directors of marketing by SwanDog Marketing and Fuse Research Network between March and May. The study also discusses trends in staffing for marketing departments, investment allocation and the use of value-added programs, Web marketing and social media.
Article Published on November 6, 2012
Hybrid Wholesalers in Demand: Study
These professionals, who are called hybrids because they take on duties of both external and internal wholesalers, still make up only a small part of the industry’s sales force. In fact, only about 40% of asset managers employ hybrid wholesalers, according to a recent survey by Fuse Research Network. Fuse surveyed distribution staff at 25 firms across the industry and interviewed sales heads at these firms between June and September.
FUSE Talks Wholesaler Pay
Neil Bathon’s research firm latest report is connected to an issue all wholesalers should be interested in: how they get paid.
According to a FUSE Research Network report published this week, around 41 percent of surveyed firms have a net sales commission component as part of their compensation structure for wholesalers.
Article Published on November 2, 2012
With Redemptions Up, Metrics for Wholesaler Pay in Flux
In fact, 41% of firms surveyed by Fuse Research Network have incorporated net sales into the set of drivers of wholesaler compensation this year. In partnership with Lisa Cohen, CEO of Momentum Partners, Fuse conducted an online survey of distribution staff at 25 firms that represent different segments of the market and interviewed distribution heads at the companies. The surveys and interviews were conducted between June and September.
Article Published on October 26, 2012
New Oppenheimer Fund Exploits SteelPath Acquisition
The product type is appealing to advisors looking for an easy way to fill an alternatives sleeve in a portfolio. “If you’re putting alternatives into your portfolio, unless the portfolio is very big, it’s potentially hard to get the diversity across strategies. For a lot of folks it’s simply easier to add in a single product that covers multiple strategies,” says Sam Campbell, director of research at Fuse Research Network.
Article Published on October 15, 2012
Alts Take Center Stage at Industry Forum
“Liquid alternatives is the best place for us to be as a firm,” Mark Casady, CEO of LPL said during an interview with Neil Bathon, founder of Fuse Research Network, at the conference. “I think the space will only grow but it is important to understand it is a small space.”
Article Published on October 15, 2012
Legg Mason hires Korn/Ferry to run CEO search
Other candidates to run Legg Mason might be Sallie Krawcheck, the onetime head of Bank of America's Global Wealth and Investment Management unit, or Peter Cieszko, an executive at Kansas City asset manager American Century Investments who previously worked at Legg Mason, said Neil Bathon, managing partner of FUSE Research Network, a Boston-area fund consulting company.
Article Published on September 27, 2012
HighTower Revises Business Model Blueprint for Growth
As of May, HighTower has over $10 billion in discretionary AUM, which puts the firm in the top five RIA firms, according to Sam Campbell, director of research at Fuse Research. HighTower works with investment research providers Envestnet and CAIS and custodians Schwab, Fidelity, J.P. Morgan and Pershing, according to Campbell.
Article Published on September 25, 2012
Alternatives merge into retail mainstream
The benefits of M&A go far beyond plugging gaps in line-ups, however. “Some of these firms have the investment capabilities in-house, but one of the most important factors the professional buyers are looking at is the reputation and history of running these strategies,” says Sam Campbell, director of research at Fuse Research Network.
Article Published on September 21, 2012
Is Fidelity Building an ETF Empire in the Rockies?
“There’s no doubt Fidelity is a major player in the sector fund business, and sector funds make perfect sense for ETFs,” says Sam Campbell, director of research at Fuse Research Network. He says he believes any efforts Fidelity makes in the sector ETF space would first be focused on its internal client base of RIAs that custody with the firm or possibly its
Pyramis Global Advisors unit.
Article Published on September 21, 2012
Legg Looks for New CEO to Tackle Old Challenges
“My view is that Mark Fetting has done [as good a] job as anyone could have done,” says Neil Bathon, founder of Fuse Research Network. “He operated under incredibly difficult circumstances.”
Article Published on September 12, 2012
B-Ds Tell Managers to Foot the Due Diligence Bill
Although the practice may not be common now, asset managers should expect due diligence fees to become more standard in coming years, says Neil Bathon, founder of Fuse Research Network.
Article Published on August 28, 2012
Nuveen Poaches Forward’s Head of Distribution
“Jeff’s Cusack background, experience and connections make this a major win for Nuveen,” Neil Bathon, founder of Fuse Research Network, writes in an e-mail response to questions.
Article Published on August 21, 2012
Columbia Reveals Big Plans for ETF Business
Track records are important to gaining interest and sales in active ETFs, much like mutual funds. Having the ability to talk about a portfolio manager’s expertise and history in managing a particular strategy in a mutual fund may give Columbia an advantage over other active ETFs that are using completely new strategies, says Mike Evans, president of Fuse Research Network.
Article Published on August 20, 2012
In split from SocGen, TCW's fortunes seen set to rise
Unlike Pimco, TCW has a "strong line" of equity funds as well as fixed income, said Neil Bathon, managing director at Fuse Research, a Boston-based fund marketing consultant.
Article Published on August 10, 2012
Baird: Bar for Active Managers Keeps Getting Higher
The volatility that has characterized the markets since 2008 has meant greater demand for funds with more flexible mandates industry-wide, says Michael Evans, president of Fuse Research Network. “There is still demand for style-specific products, but that demand is waning,” he says.
Article Published on August 7, 2012
OppenheimerFunds Buys SteelPath, Expands Alts Lineup
As more firms look to boost their alternative asset class or strategy product lines, acquisitions could be one way to bring in some incremental capabilities, says Sam Campbell, director of research at Fuse Research Network. “It’s a matter of firms looking at what their existing capabilities are and where and how they want to participate in this growth,” he says. “I do think you’ll see firms looking at acquisitions going forward.”
Article Published on July 18, 2012
Ignites - Mainstay Cracks Alts Market With Fund Adoption
Sam Campbell, director of research at Fuse Research Network, says MainStay will need to bring the fees down on the Marketfield Fund in order to ensure good distribution.
Article Published on July 2, 2012
Ignites - Eaton Vance Buys Big Stake in Global Equities Manager
Having those capabilities is key for asset managers who are positioning themselves on their scale and breadth of investment capabilities rather than any particular niche, says Sam Campbell, director of research at Fuse Research Network.
Article Published on June 19, 2012
Ignites - MFS Revamps Brand to Convey Global Reach
“MFS is one of the oldest investment firms,” says Neil Bathon, founder of Fuse Research Network. “I would try to maintain a tighter link to the past.”
Article Published on June 19, 2012
Deutsche Unites Asset Management, Private Client Groups
Closer communication between advisors and the asset management group’s investment teams will not necessarily translate into the adoption of the proprietary funds and other products Deutsche’s asset management unit develops, says Neil Bathon, founder of Fuse Research Network. “There has always been a reluctance of the private client group [of any distributor] to welcome the proprietary asset management unit,” he says.
Article Published on June 12, 2012
Managed Account Assets Surge 9.3% in Q1
Asset managers can work with distributors to thwart the “hypersensitivity to volatility and downside protection,” investors believe, says Mike Evans, president of Fuse Research. “Expertise that can help with portfolio construction” and developing and integrating “newer, sophisticated” products that protect against downside risk are ways product manufacturers can partner with firms, says Evans.
Distributors are hungry for materials that they can share with investors, strategies that protect against risk, and a strong sales story, says Evans.
Article Published on May 29, 2012
Ignites - DoubleLine Cracks Top Five for Q1 Flows
DoubleLine is also benefiting from having secured a relatively favorable outcome from the highly publicized legal feud between Gundlach and his old firm, says Sam Campbell, director of research at Fuse-Research Network.
Article Published on May 9, 2012
Hartford Splits with 'Dr. Bob'
“There is certainly a legitimate issue,” says Neil Bathon, founder of Fuse Research Network. While Froehlich, who often appears on television and in other media outlets, has a strong advisor following, “he’s an investment strategist, but all of the investments are being done at Wellington. How does he stay in synch with them?”
Article Published on April 24, 2012
Ignites - Rise of Indexing Helps Sink Expense Ratios
"Active managers have to have tangible differentiators that can be communicated to advisors and home offices to justify why funds are going to be so much more expensive than the norm,” says Mike Evans, president at Fuse Research Network.
Article Published on April 24, 2012
Ignites - Firms Poised to Convert Loyalty Into Assets: Report
“When it comes to reallocating out of traditional asset classes like equities, being there in another capacity makes it easier for you to have that opening conversation, but that’s the extent of it. Then it’s up to you to articulate your benefit, and it becomes a strategy-by-strategy evaluation by an advisor,” says Sam Campbell, director of research at Fuse Research Network.
Articled Published on April 16, 2012
Ignites - Neuberger Boosts Wirehouse, Regional B-D Sales Force
“Neuberger Berman is fighting above its weight class, given the competitors it has surpassed,” Bathon says.
Article Published on April 11, 2012
UMA Assets Surge as Advisors Seek Flexibility
“There’s no question that key accounts is going to be hugely influential and important to understanding the dynamics of the different platforms, obtaining access to the different platforms and driving business from the top-down from those relationships,” says Michael Evans, president of Fuse Research Network.
Article Published on April 10, 2012
Ignites - USAA Targets Third-Party Sales With New Hire
“ Most recently he served as an independent consultant and co-authored white papers with Money Management Institute and Fuse Research Network. ”
Article Published on April 10, 2012
Ignites - UBS Slaps Funds With Huge Fee Hikes
“The longevity of the assets is falling way, way off,” says Neil Bathon, founder of Fuse Research Network.
Model portfolios created by home offices determine the destination of a good chunk of assets. The turnover of these models can cause sudden and sizable redemption notices with damaging consequences for fund manufacturers, Bathon says. “The portfolio managers have to figure how to handle that redemption,” he says. “They have to sell off securities that they probably didn’t want to in order to meet the redemption request.”
Article Published on March 23, 2012
Ignites - Dreyfus Names Head of Broker-Dealer Distribution
“ Fuse Research Network estimates that the direct and indirect influence of research teams at broker-dealers accounts for 50% of industry sales. ”
Article Published on March 20, 2012
Ignites - What March Madness Says About the Modern Workplace
“ Many fund firms are moving toward more of a 24/7 work culture and away from a 9-to-5 one, says Mike Evans, president of Fuse Research Network. ”
Article Published on March 19, 2012
Pioneer "Farming and Hunting" at Home Offices
Pioneer’s decision to invest in its growth was a necessary step for the firm, says Neil Bathon, founder of Fuse Research Network. “They were operating on a shoestring relative to other firms of their size for the last couple of years,” says Bathon.
Article Published on March 6, 2012
HighTower in High Growth Mode
“I don’t think HighTower is looking to impose themselves in terms of the end client,” says Sam Campbell, director of research at Fuse Research Network. “The end client is looking at the advisor as their relationship, not HighTower. I think that distinction eliminates some of the concerns around a really consistent delivery of results or experience from the home office level,” Campbell says.
Article Published on March 13, 2012
Ignites - BlackRock Launches Massive Ad Campaign
“This helps investors and other kinds of industry folks look at them as a consolidated organization and what they can bring to bear as a single entity,” says Sam Campbell, director of research at Fuse Research Network. “Not too long ago you looked at them as BlackRock or iShares. This [effort] positions them as a single entity with a broad set of resources.”
Article Published on March 2, 2012
Ignites - New Ads Showcase Fidelity’s Investment Management
The reliance on global themes can effectively build more brand equity for Fidelity, consultants say. “The most effective marketing and thought leadership efforts oftentimes don’t have a direct tie-in,” says Mike Evans, president at Fuse Research Network. “They illustrate the kind of intellectual capital and the strengths inherent to the organization with a modest tie-in.”
Article Published on February 27, 2012
Top Sales Exec Departs Fidelity
"Trying to do more with less is a common theme these days," says Neil Bathon, founder of Fuse Research Network.
Article Published on February 8, 2012
Ignites - Allianz Names New Retail Distribution Head
“I definitely think that getting out from under the shadow of Pimco will serve them,” says Neil Bathon, founder of Fuse Research Network.
Article Published on February 3, 2012
Ignites - Firms Slow to Integrate Digital Marketing: Survey
SwanDog Marketing, for its part, found that asset managers spend a significant amount on marketing collateral. SwanDog surveyed asset managers for a benchmark study it conducted in partnership with FUSE Research Network last year.
Article Published on January 30, 2012
Pimco Total Return ETF may not track mutual fund
Many investors were burned by derivatives like credit default swaps and mortgage-backed securities during the financial crisis, said Sam Campbell, director of research at mutual fund research and consulting shop Fuse Research Network.
Some fund management research teams "that use the Total Return Fund ... (say) they have no idea what they are holding because of its use of derivatives," said Sam Campbell, an analyst with FUSE Research Network.
Article Published on January 27, 2012
Ignites - Putnam Expands Advisor-Focused DC Sales Team
Neil Bathon, founder of Fuse Research Network, says Putnam took the lead in establishing itself as a leading player in transparency, and that this is one key
Article Published on January 26, 2012
Analysis: Resisting change, American Funds faces more losses
... performance began to suffer just as many advisers were evaluating their fund lineups as part of that change, said Neil Bathon, a partner in mutual fund research and consulting company FUSE Research Network LLC.
More fee-based advisers have also started using the investment models of the brokerage firms they work for. Those tend to include very precise strategies. "American Funds doesn't work well in those models" because its funds are large and diverse, Bathon said.
Article Published on January 19, 2012
New ETF players find ways to crack the US market
Several new entrants to the exchange traded fund space in 2011 were able to crack the concentrated market and find early sales successes.
“Unless someone brings in something that is unique from a product perspective or has a significant brand and distribution infrastructure already in place, it’s incredibly difficult to get to a critical scale because there are such strong and established players at the top,” says Mike Evans, president of FUSE Research Network.
Article Published on January 11, 2012
Model SMAs Cheapen Portfolios: Barclays Wealth
The Barclays Wealth approach to model portfolio SMAs may make sense at the margins – in the case where it’s a boutique firm using eclectic managers and harder-to-trade strategies – but doesn’t fit the broader retail high-net-worth market, says Neil Bathon, partner at FUSE Research Network. Many managers in recent years had resisted the shift to model portfolios, arguing that they added value through their trading skill, but they weren’t able to prove those claims to the brokerage sponsors – and ended up relenting, he says.
While it’s possible that high-end managers with specialized strategies may be able to prove their trading value, the case for streamlining delivery of SMAs through model portfolios and having the sponsors manage trading is compelling from a total cost and efficiency standpoint, Bathon says.
Barclays probably won’t gain notice from investors specifically because of its model portfolio stance, he adds. “I don’t think there is an edge there, because I don’t think the typical client looks past the advisor to understand the trading and operations in the background,” he says.
Article Published on January 11, 2012
FUSE's 12 Predictions for 2012
Mike Evans and his colleagues at FUSE Research Network list their predictions for 2012.
Article Published on January 10, 2012
Commonwealth Hunts for New Tactical Products
The trend toward tactical is also one that cuts across channels, as these types of products increasingly pop up on home-office platforms industry-wide, says Michael Evans, president of Fuse Research Network. “There is a real trend toward implementing [tactical strategies] on a broad level,” he says.
Article Published on January 10, 2012
Poll: 2012 Will Be Year of ETFs, Equities
FUSE Research Network founder Neil Bathon also says the coming year will bring the continued rise of passive investing. Institutional investors are already allocating about 30% of their assets to passive management, compared to 20% in the retail space, but institutional trends will carry over to the retail space, he says.
Article Published on December 30, 2011
Fidelity’s ETF push likely hinges on 401(k)s, brokerage
Fidelity’s internal distribution channels and access to ETF-hungry clients make its strategy and motivations different than any other large mutual fund manager looking at launching ETFs, says Michael Evans, president of FUSE Research Network.
The platform and ability to offer commission-free trading combined with its substantial index asset management resources “makes this kind of strategy sensible for Fidelity, where for most other active managers to compete with the likes of iShares and Vanguard and SSgA on the index side is next to impossible,” he says.
Article Published on December 12, 2011
Deutsche Bank Mulls Sale of U.S. Division
Changes at the firm over the last five years have helped unify and strengthen the DWS brand, says Neil Bathon, founder of FUSE Research Network. “They are inching closer and closer to syncing that brand up,” he says. As a result, the business would be more valuable to a potential buyer now, he says. Still, maintaining a strong U.S. retail presence is an important element to developing a truly global brand.
Article Published on November 23, 2011
Envestnet-Fund Architects Partnership Signals Larger Trend
Hiring a third-party model provider can also keep product providers out of trouble, he says. “If you use the home office model and you make a mistake, you probably made that mistake across all asset allocation models,” Campbell said.
Article Published on November 17, 2011
Gatekeepers Offer Hints on How to Win Business
The increasing influence of the centralized research groups comes as advisors are faced with a surge of new products and increasingly complex client needs, said Neil Bathon, founder of FUSE Research Network. “The best use of the advisor is client acquisition, retention and service, not [asset] allocation,” said Bathon. Despite major upheaval among distributors in the wake of the financial crisis, about 50% of advisors across all channels surveyed by Fuse say they either “trust implicitly” or “think highly of” home office model portfolios.
Even if advisors are not using models built by their home office research team, those models — and others that advisors may find elsewhere — heavily influence the way that they construct their own clients’ portfolios, said Bathon. By 2015, Fuse projects that up to 80% of all fund sales will come through a pre-packaged model, whether directly or indirectly, he said.
Article Published on November 8, 2011
FRC Files for Bankruptcy, Sells Pieces to Strategic Insight
FRC, which was founded in 1987, has undergone several transitions, with management changes coming rapidly in recent years. In 1996, FRC founder Neil Bathon sold the firm to Boston Institutional Group, which in 2001 was acquired by Bisys. Bathon left FRC in 2006. In 2007, Citigroup Inc. bought Bisys. By 2008, Citigroup, facing its own financial turmoil, began cutting staff and selling subsidiaries.
In August 2008, FRC president Michael Evans left FRC to join Bathon in a new venture, FUSE Research Network. The following spring, FRC director of research Sam Campbell joined them.
Article Published on October 4, 2011
T. Rowe, TIAA-CREF, MFS & John Hancock Take Top Honors in NOVA Award Competition
Eight industry executives served as independent judges this year, generously giving of their time to very carefully assess the entries. They are: Neil Bathon, partner and founder of FUSE Research
Article published on October 3, 2011
American Funds Preps Its First Funds of Funds
“The recommendation I would make to my clients is that they should not be starting such funds now because the growth prospects are probably fairly limited. But for American Funds it could work, because its reputation is stellar and it has a strong following.” said Neil Bathon, partner at FUSE Research Network.
Putnam’s A/R Marketing Campaign Draws Criticism
Not every industry observer felt the specific labeling of the funds was an unwise move. Neil Bathon, partner at FUSE Research Network, is one consultant who favors Putnam’s approach. “I like the fact that they stuck their stake in the ground and set clear performance goals, regardless of whether they actually reached them. Too many fund managers use nebulous names to protect themselves from a little criticism
Wells Fargo Taps New Distribution Head
Article Published on September 29, 2011
Model-Only SMA Focus Steers Schroders
Schroders has company – and is bound to have more – among institutional market-focused asset managers tapping the model portfolio route to break into the SMA world, says Neil Bathon, partner at Fuse Research Network, a strategic consultancy.
“There’s a bit of an upswing – a willingness from asset managers that have focused on the institutional market,” Bathon says. “There’s an uptick in interest in this as their way for accessing retail.”
The impetus is both managers’ desire to avoid the onerous back office infrastructure required to run traditional SMAs, as well as the strong push by sponsors to grow their model strategy menus and expand that side of their businesses, he adds.
“Merrill and Morgan Stanley Smith Barney are being particularly aggressive on pushing this approach,” Bathon says.
Article Published on September 28, 2011
Putnam Scores Big Wins in Retirement Market
Article Published on September 14, 2011
S&P Takes Swipe at Active Managers
Article Published on August 26, 2011
Shifting Distribution Erodes Gatekeeper Power
Article Published on August 24, 2011
Eaton Vance Readies Volatility-Fighting Funds
Article Published on August 23, 2011
Alt Funds Face Make-or-Break Moment
Article Published on August 11, 2011
Firms Look to Ease ETF Launch Path
Article Published on July 25, 2011
How Are ETFs Changing Actively Managed Funds?
Article Published on July 20, 2011
Pace of New Fund Launches Gathers Steam in Q2
Article Published on July 11, 2011
Credit Suisse Exiting Equity Fund Biz
Article Published on July 6, 2011
Poll: Wirehouses, RIAs Will Generate Most Flows
Article Published on July 6, 2011
Goldman Guns for Retail Assets With Fee Cuts
Article Published on June 24, 2011
AMG Taps BlackRock Alum to Lead Global Distribution
Article Published on June 22, 2011
AllianceBernstein Down $4B in Subadvisor Work Since 2010
Article Published on June 17, 2011
Advisors: Jury’s Out on Morningstar’s New Ratings
Article Published on June 13, 2011
DWS Makes Play for Direct Shareholders
Article Published on June 8, 2011
Russell, Wells Woo Advisors With Biz-Building, Allocation Campaigns
Article Published on May 24, 2011
BlackRock Winnows 14 Funds From Lineup
Article Published on May 18, 2011
Columbia to Run Grail ETFs, Dump Subadvisors
Article Published on April 18, 2011
Huntington ETF Could Be Bellwether for Fund Conversion
Article Published on April 14, 2011
SSgA Preps Active ETFs
Article Published on April 5, 2011
Columbia Adds Funds, Launches Absolute-Return Campaign
Article Published on April 5, 2011
BlackRock starts to flex retail muscles
Article Published on March 27, 2011
Putnam Recycles Funds for New Retirement Income Suite
Article Published on March 22, 2011
T. Rowe Joins Emerging-Market Currency Rush
Article Published on March 18, 2011
Russell Grabs AllianceBernstein Vet to Grow DC Business
Article Published on March 10, 2011
Schwab Launches ETF Short List for Retail Investors
Article Published on March 10, 2011
New Hires Give Shape to Pimco’s Equity Strategy
Article Published on March 8, 2011
Putnam Shakes Up Fixed-Income Leadership
Article Published on March 1, 2011
Putnam Preps Absolute Return for VA Push
Article Published on February 23, 2011
BlackRock Trims Lineup, Axes Muni Funds
Article Published on February 23, 2011
Schwab changes fee structure on fund platform
Article Published on February 20, 2011
Facing Stigma, 130/30 Fund Drops Name, but Not Strategy
Article Published on February 4, 2011
Janus Preps New Guaranteed Fund
Article Published on February 1, 2011
Alger Axes Money Fund, Launches Emerging-Markets Fund
Article Published on January 24, 2011
American Funds is top fund family for Indie B-Ds
Article Published on January 23, 2011
Top Execs See Stronger Sales, New Alt Products in '11
Article Published on January 19, 2011
Two Indian Firms Set Sights on U.S. Fund Business
Article Published on January 10, 2011
Grail Goes on the Block: Sale or Liquidation Imminent
Article Published on January 7, 2011
ETFs, Equities Loom Large in 2011 Predictions
Article Published on January 6, 2011
DWS Shakes Up Executive Ranks
Article Published on December 30, 2010
Legg Mason Sheds Affiliate Through Buyout
Article Published on December 15, 2010
Barclays Rates SMAs for 'Personality' Traits
Article Published on December 13, 2010
Goldman Sach Readies 'Next-Eleven' Fund for 2011
Article Published on December 10, 2010
AXA Rosenberg Names New CEO, CIO in Reorg
Article Published on December 2, 2010
Research-Heavy Advisors Win Ultra Wealthy Biz
Article Published on November 29, 2010
As Pimco Evolves, It Loosens Ties Allianz Global
Article Published on November 24, 2010
AXA Rosenberg Loses CIO in Latest Blow
Article Published on November 22, 2010
Top 10 SMA Sponsors Pumps up Model Portfolios
Article Published on November 10, 2010
Long-Short Funds Dominate New Launches
Article Published on October 19, 2010
BofA Merrill Restructures Small Plan Business
Article Published on October 18, 2010
Eaton Vance Taps Richard Bernstein for Go-Anywhere Fund
Article Published on October 14, 2010
SMA Due Diligence Unit Zooms In on Manager Ops
Article Published on October 15, 2010
Putnam Preps New Fee Disclosure Initiative
Article Published on October 13, 2010
SMA Managers Win New Assets Through UMAs
Article Published on September 22, 2010
Changing Expectations Push Advisor Portfolio Changes
Article Published on August 31, 2010
Is Commission Based Business on the Wane?
Article Published on August 30, 2010
Brokerage Moves Whole SMA Book to UMAs
Article Published on August 5, 2010
Pimco Builds Equity Bench, Plans to Hire ‘Dozens’
Article Published on July 26, 2010
JPMorgan Names New US Institutional Leader
Article Published on July 12, 2010
State Street Responds to Securities-Lending Exodus
Article Published on July 8, 2010
Poll: Independent Channels Will Be Top Revenue Generators
Article Published on June 30, 2010
AllianceBernstein Preps Fee-Free Funds for Wrap Channel
Article Published on June 24, 2010
Poll: Downside Protection Is FAs' Top Concern
Article Published on June 9, 2010
Small Firm Lures Investors With Novel Promotion
Article Published on June 9, 2010
Bond Funds Headed for Bust: Fixed Income Strategists
Article Published on June 8, 2010
FUSE uses SySys Corporation and FundSysTM to create custom research tool
Article Published on May 25, 2010
Money Management Executive Announces 2010 Fund Operations Award Winners
Article Published on May 20, 2010
Putnam to put plan sponsor fees online
Article Published on May 18, 2010
Fund firms try to coax still-skittish clients to put cash to work
Article Published on May 16, 2010
Vanguard Cuts Escalate Price War on Brokerage Front
Article Published on May 5, 2010
SwanDog Looks to End ConFUSEion Over Asset Management Marketing
Article published on April 30, 2010
Fund Families Need Better Pruning Process: Study
Article published on April 23, 2010
Poll: Mixed Predictions for Pimco's Equity Play
Article published on April 21, 2010
Firms Linking Wholesaler Pay to Company Objectives
Article published on April 14, 2010
More SMAs of ETFs Hit Advisory Market
Article published on April 1, 2010
MFS Taps Market Trends With Two New Funds
Article published on March 16, 2010
Poll: Most Firms Have Rebounded From Market Low
Article published on March 10, 2010
FundFire - What's a Priority for a Struggling Manager?
Article published on February 22, 2010
Legg Nears Finish Line on Sales Overhaul
Article published on February 22, 2010
T. Rowe Latest to Launch Infrastructure Fund
Article published on December 13, 2009
Article published on November 24, 2009
Article published on October 18, 2009
Article published on September 29, 2009
Fundsters Head Back to the Drawing Board
Article published on September 29, 2009
Fixed-Income, ETFs Fuel Fastest-Growing Firms
Article published on September 17, 2009
Article published on September 16, 2009
Article published on September 9, 2009
Article published on September 2, 2009
Article published on August 28, 2009
Article published on August 25, 2009
Article published on August 19, 2009
Article published on July 29, 2009
Article published on July 20, 2009
Article published on July 16, 2009
Article published on July 14, 2009
Article published on July 13, 2009
Article published on July 8, 2009
Article published on July 1, 2009
High-End Bank Moves $6B to Unified Accounts
Article published on June 9, 2009
Article published on May 28, 2009
Article published on May 20, 2009
Article published on May 19, 2009
CrucialClips FUNDfire - interview with Neil Bathon
Clients Value Wirehouse Approach
SMA Managers Cut Marketing
Managers Unprepared for Unified Acct
Article published on May 6, 2009
Article published on April 20, 2009
Article published on April 21, 2009
Article published on April 6, 2009
Article published on April 2, 2009
Article published on March 26, 2009
Article published on January 29, 2009
Article published on January 26, 2009
Article published on January 16, 2009
Article published on January 11, 2009
Article published on December 17, 2008
Article published on November 24, 2008
Article published on November 14, 2008
http://www.ignites.com/articles/20081114/rise_mega_banks_will_change_distribution
Article published on November 7, 2008
Article published on October 31, 2008
Article published on October 23, 2008
Article published on Oct 6, 2008
Article published on December 17, 2008
Article published on November 14, 2008
Article published on November 7, 2008
Article published on October 31, 2008
New company poses competition to the research firm
Article published on October 12, 2008
Article published on October 08, 2008
Article published on October 02, 2008
Article published on September 19, 2008
Article published on September 03, 2008