Balance Sheet of Asset Management Companies
Hi guys,
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Let's take a balance sheet of any Asset Management company (Aberdeen, let's say). Now, we all know that Aberdeen largely invests investors' money and not its own, how does it make its balance sheets? Why do investments still appear even though the investments don't belong to them?
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How's the accounting done for asset management companies?
I would appreciate if any of you have any idea on this.
Thank you for your time.
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