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How to get ahead in the fund business

April 28, 2011

How does a firm move into the upper echelons of the mutual fund industry? Conventional wisdom will tell you that it has to have top-ranked investment performance, combined with an extensive distribution network.

Robert Pozen

But the conventional wisdom is wrong, according to Robert Pozen, Chairman Emeritus of MFS Investment Management, and Theresa Hamacher, President of NICSA. They are the co-authors of The Fund Industry: How Your Money is Managed, recently published by Wiley.

Their research leads them to the conclusions that the firms that are most likely to succeed in the fund industry are ones that are dedicated to the asset management business. In fact, at the end of 2009, 13 of the top 25 mutual fund firms — managing over half of industry assets — were non-diversified investment management firms. These firms have been gaining market share, while diversified financial organizations have been losing share.

Bob Pozen will expand on this thesis in a luncheon presentation on May 11, co-sponsored by NICSA and the Boston Security Analysts society. He’ll also talk about the ownership structure of the dedicated firms. Many are privately held or controlled by their own employees. The presentation will be followed by a book signing.

Luncheon and Presentation by Robert Pozen
Most Likely to Succeed: The Dynamic Structure of the U.S. Mutual Fund Industry
Co-sponsored by NICSA and the Boston Security Analysts Society

12:45 pm – 1:45 pm Eastern Time
Tuesday, May 10
Hyatt Regency Boston, One Avenue de Lafayette, Boston, MA

$45 members | $75 non-members
To register, click here.

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