Fund selectors are divided on whether other providers will follow BlackRock's lead by venturing into the quantitative investment space, suggesting they could be attracted by cost efficiencies but deterred by investor scepticism towards these strategies.
BlackRock, the world's largest asset manager, announced last month it would shift a number of its actively-managed equity products into quantitative strategies. The shake-up, which the group said will affect some $30bn of AUM (11% of the group's total active equity business), comes after a six-month review of its offering. While the move is set to create annualised savings of $30m for clients due to lower fees, a number of fund managers will be made redundant, including some running funds sold in the UK. BlackRock to cut 400 jobs amid global volatility - reports Commenting on t...
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