A modest level Index provider (Sub S&P/MSCI/FTSE level, but you may have heard of them) has been bugging us on launching a fund with a concept that I don't like. I've already got corporate to buy in on not launching the fund, but they won't go away. They've got a family office that might put in enough that it won't be a horrible loser, but still not enough to move the needle for us. I know a guy at an Indy. Do I offer to introduce him to my friend to offer it or put it as part of their white-label business?
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Did you try telling them no in a nice way?
I can't tell you how many times people don't say no and I think they are still interested in enterprise sales. IE the guy that says call next month because this month is packed.
"Hi X,
Currently our plans in 2020 are more than full and we wouldn't have enough internal resources to execute on this properly.
However I can introduce you to someone at X, they might be interested. Let me know if you would like the intro"
.
I actually went and said, "operationally, both our equity and FI trading teams don't want to touch this. We also have way too many products as it is, and can't educate the salesforce on this. The space also maxes out at around $2B, which just isn't worth it."
I forgot to tell them that the guy who launched the second largest product in the space for BlackRock basically laughed at the proposal when I asked for his opinion.
Pretty much ignore his emails and phone calls then. He should get the message
I could imagine it at $250-500m at somewhere a bit north of 50bps. I'm not going to lie to my guy. If they can make it work operationally, more power to them. Thats not going to move the needle for us though. We're passing, (thats decided) but I think it may move the needle for them. What do we think my obligations are?
as someone who's in the business of pestering people to do business with me, ghosting seems like the best thing for this bloke. some salespeople (myself) get the hint and would prefer a "fuck off" but others (this bloke) take any communication as the slightest bit of interest. create a hidden folder in outlook, call it "beta cucks" and have his stuff forwarded to there. read once in a while to get a laugh. if he calls, ask to be taken off the list
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