Funds that don't use expert networks?

Hey all,


Curious to hear how many of you know of equity-based funds that don't use expert networks. Understandably, these would typically be funds with lower AUM that are more cost conscious. 


If you do know of a fund that doesn't use expert networks, I'd love to know the following:

  • AUM

  • Reason for not using

 

Same. First few years used them regularly, now barely use them. 50% of the time it’s full of biased bullshit from a disgruntled employee or a competitor who has no knowledge of the company in question and another 30% of the time kind of just useless rehashes. Unless it's a super niche sub industry, generally don't waste my time on them.

 
Most Helpful

After Rajaratnam, it's more scrutinized. At one MM I worked at, someone from compliance would be on GLG calls. If they smelled something fishy, we'd be barred from trading on info from the call.

At my current MM we just don't use them because we don't think we get an edge from those calls. I've found IR calls to be more useful, and they're free.

I'd say SM funds that are more long term and not playing quarters probably don't need them.

 

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