Billion-dollar allocator mandates structurally exclude hiring sub-billion AUM asset managers
Wayne Wicker · Wayne Wicker - Managing for Millions who Matter (Capital Allocators, EP.44) · Mar 19, 2018 · at 51:03
Wayne Wicker, CIO of ICMA Retirement Corporation, explains how managing large institutional scale restricts manager selection to larger firms capable of absorbing billion-dollar mandates.
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“The downside to that is you probably cut off the bottom end of the types of managers that you can hire in terms of, you're not going to give a manager that has seven hundred million AUM a billion dollars. And we have a lot of billion dollar mandates.”
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