Put pressure on manager fees, says State Street’s Gerard
Some big institutions find index-based investment harder than they expect and should push asset managers to cut fees instead of trying do it themselves, says a State Street executive.
Too many institutional investors are rushing to get into running passive indexed portfolios, when they should be pressing external fund houses to cut fees, says Daniel Gerard of State Street, a big provider of index products. He also pointed to the dilemma such entities face when it comes to insourcing investment management.
Hong Kong-based Gerard, head of advisory solutions for Asia Pacific, consults with various large state funds in the region and said even the biggest investors…
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