If you could choose between working for a Wellington PM that manages $4bn, or a tier 2 firm PM that manages $25bn, which one would you choose? WSO makes it sound like working for T-Rowe and the likes is all that is important but how about the specific funds AUM?
Also do you think the current top AMs will remain the same in the years to come? Have they largely been the same for the last 10 or so years?
Ah, the age-old question of firm prestige versus fund size. Based on the most helpful WSO content, here's a little wisdom for you:
Firm vs. Fund: The reputation of the firm can open doors and provide a strong network, which is invaluable in finance. However, the specific fund you work for and its AUM (Assets Under Management) can also be critical, especially if you have significant responsibilities and the fund performs well.
Choosing Between Firms: If you're choosing between a well-regarded firm like Wellington with a $4bn fund and a tier 2 firm with a $25bn fund, consider the following:
Top AMs in the Future: The asset management industry is dynamic, but top firms often remain at the top due to their established reputation, consistent performance, and ability to attract top talent. However, shifts do occur, especially with changes in market conditions, investment trends, and innovation in investment strategies.
Historical Consistency: Many of the top asset managers have remained relatively consistent over the past decade, but there's always room for change. Firms that adapt to market trends and invest in talent and technology tend to stay ahead.
In the end, it's not just about the AUM or the firm's name. It's about where you believe you can grow, make an impact, and align with your career aspirations. And remember, even the most prestigious firms had to start somewhere; today's tier 2 could be tomorrow's leader with the right strategy and performance.
As for the current top AMs, while there's a good chance that many will remain influential, the financial landscape is always evolving. New players can rise, and established ones can fall. It's a jungle out there, and only the adaptable survive!
Now, about your follow-up question '1', could you clarify what specific information you're seeking?
Sources: Long term, concentrated, deep fundamental investing, What Happens when a PE Fund Closes?, AM vs HF: The Business of Our Business, Q&A: BlueWing Part 2: Endowments, Foundations, & Asset Allocators, Can someone make a LO AM tier list?
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