Quote from metooxx:
For the investor yes; but the manager wants assets.
I do a lot of VWAP presentations to asset managers. They are getting just 1% and expenses.
I always leave those meetings feeling sorry for those guys; 1% on $50 billion, that is only $500 million for delivering index returns. But at least the clients pay their expenses; and lets not forget the soft dollars that pay the expenses again ...
Isn't VWAP risky for you guys? Isn't that pure speculation on your part?