What do you guys consider as a benchmark for an asset manager to be considered small, medium, large and mega large (the Blackrocks of the world). With regard to future job opportunities, is it relevant how large the portfolio that you were an analyst/junior PM for was, or how many AUM the firm as a whole has amassed? I'm interested in "traditional" AMs who manage active mutual funds for Institutional clients. I'm trying to gauge where I stand in terms of my future employer, and to add some info to my decision making process regarding which team to join. Cheers!
24 May 2021
P&I Online has compiled a ranking of hedge fund AUMs as of June 30, 2020 and changes from 2019. This would give you a rough idea of who was doing well/poorly recently. Link: https://www.pionline.com/interactive/largest-hedg… Some biggest drops I saw: Bridgewater (-25%), AQR (-47%), King Street (-25%), Anchorage (-10%), Two Sigma (-10%). Some notable increases: Millennium (13%), Elliott (11%), DK (3%), Farallon (9%), Point72 (23%). (The Assets below are in $ millions).
10 Nov 2020
I was fortunate to receive an offer from a top prop. shop (Trillium/Susquehanna/First New York) today. I am also interviewing with a Commodity Trading Advisor (CTA) which is basically set up as a hedge fund (2 and 20 structure) for a night trading position. The CTA position would be trading futures contracts on the Asian/European markets therefore it would be overnight hours. I pretty much have this position set I think (I have gone through 4.5 hours of interviews and just have to meet the other partner). We kind of indirectly discussed starting dates, where to live, salary, benefits etc.
07 Apr 2009
How much would a 1st year at a $1.5B aum hedge fund with about 20 guys expect to make? Small Hedge Fund Associate Salary Your salary will largely depend on the size of the hedge fund that you are working for considering the 2% and 20% structure. However, the general consensus is that analysts coming out of undergrad can expect to make between $60 - $80 k (as of 2010). One user shared that they worked at a relatively small hedge fund with pay of $60,000 and a bonus between 50%-100% of the base salary. He worked around 60 hours a week in a non-trading role. While all salaries will differ - the
06 Apr 2018
Chaplin Capital's investment strategy is event-driven and value-oriented, specializing in the identification and analysis of securities likely to experience a change in value resulting from market catalysts. The firm's investment activities may be classified under three strategies: • Merger arbitrage – mergers, acquisitions, buyouts, hostile takeovers • Special situations – restructurings, spin-offs, litigation, short sales • Undervalued securities with a catalyst – management change, shareholder activism, industry consolidation Chaplin Capital, LLC focuses on microcap to large-cap companies
10 Feb 2018
What do you guys think is the worst case scenario for investment management over the next decade or so? There's a lot of talk about eliminating the capital gains tax, so that cap gains would get taxed at ordinary income rates. Would this completely kill the business model/ bonus prospects at most mutual funds, HF, etc.? I'm guessing that would cause funds to slam the brakes on hiring for a few years? I suppose a prolonged slump in the markets could have a similar effect. You'd think assets under management should be at a peak right now given that the baby boomers are just starting to retire. I wonder if total AUM will start to decline as the boomers eat into their nest eggs? Any thoughts? Disclaimer: I don't work in IM, but will be heading back to b-school in the Fall and I'm hoping to break in from consulting.
14 May 2010
Hi Guys, I am between two offers. The first is for an internal wholesale gig, working for a highly respected investment management firm; the second is for an analyst position at a newly established RIA (AUM of ~200MM), where my functions would include placing trades, building portfolios, preparing performance reports, etc. Does anyone have experience working with a small RIA? If so, and assuming the RIA does grow to a more significant level, could I expect to learn more from working-and growing with-the RIA? My ultimate goal is to become an FA, but I'd like to accumulate a more diverse
26 Apr 2018
As if it wasn't a rough enough week for Kris Humphries. First, he is forcibly divorced by Karcashian, finding out about it around the same time as the rest of the world. But to make matters worse, then we hear about him getting straight up Corzined by a financial industry insider who was definitely more Street than Wall. So for a quick little minute I am going to take you little monkeys back stage and shine the light on how things really happen at the big boy's table. This tale is going to sound like something very much from the 'hood but that's probably because when it comes to the big
05 Nov 2011
"Worked at a $1bn private equity firm" Is that $1bn referring to: 1. AUM 2. Size of current fund 3. Amount of fund invested 4. Total amount of fund raised? I keep reading sentences like these and have no idea which people are referring to.
25 Dec 2010
In PE, is there a difference between committed capital and assets under management? I was told that committed capital include only equity invested in the fund by limited and general partners while AUM is all the assets under management - that is, the number will be much higher than committed capital as the portfolio companies were bought using the investors' money and borrowed debt. Is this true?
22 Mar 2011
Hi guys, I'm very much confused with the definition of AUM. Let's suppose a private equity raised $1B fund and it's the only fund that the company has. They have invested in $2B project using addtional $ 1B senior loan, but the control of the project belongs to the private equity. And.. after a few years, the asset had gained its value and became $3B( $2B in equity size, and $1B in debt). In that case, what's the AUM ? should I say the company has a AUM of $1B(initial equity investment size), $2B(initial project size), or $3B(value of the total project marked to market) ?? Thanks.
18 May 2011
From those of you who have jobs at banks, wondering what you had to do with your assets? Someone recently mentioned to me that they have to move all of their accounts (even 401k) to either the bank, or a bank-approved account. All trades had to be pre-approved two weeks in advance, etc. Wondering what your experience has been?
24 May 2011
I tried scanning google for this but couldn't find anything meaningful. How do funds calculate AUM according to US GAAP? Not RAUM which is stated on the ADV, but the classical AUM? If you had some credible link explaining calculations that would be awesome.
09 Feb 2015
I know this will vary depending on a lot of different factors, but does anyone know what a typical RIA's margins are? For example, say you have $1B AUM. If you take, say, 1.25% and are paying for referrals and everything maybe you wind up with 80 bps net and then maybe 40 bps for salaries/expenses. Leaving you with $4 MM pretax. Are these pretty fair assumptions?
10 Apr 2013
just wondering, how come that in the US PMs get paid way more than their counterparts in the EU with equal assets/ firms/experience? i mean most of the guys here (who are certified professional) seem to agree that, for example, a PM at Fidelity, US based, with ~800mil in assets and with lots of experience will make north of 500k dollars per year bonus included while looking a little bit on the internet (some surveys or conversations) it seems that a PM, EU based (that is London), with similar assets and experience will make 120-140k euros (or ~100-120k pounds) which in a way seems unfair. [yes i know there is FX to be accounted but overall if you work in the EU you will use pounds or euros, not dollars to buy goods and services)
29 Mar 2014
When looking at two mutual funds, say one has 10B AUM and one has 20AUM, is the bigger one necessarily a better place to work? Why would a fund with a strong track record voluntarily stay small? If the Research Team at both funds is about 25 people, will they be paid more at the one with more AUM? I know this is a high-level question, but when comparing Asset Managers, I feel as though the pedigree of the investment team dodes not seem to be correlated with AUM that closely.
05 Jun 2012
How do I find out how much a mutual fund/ETF manages? Is that information disclosed on a periodic basis for all funds? I found AUM information from Lipper for only the top 25 funds/ETFs, but what about other smaller funds? Note, i am talking about individual funds and not fund families or AM firms.
29 May 2012
Can someone explain something to me? I am looking at certain hedge funds, and the amount that they report on their 13F for AUM is much lower than their actual AUM. Abrams Capital: Real AUM ~8Bn, Reported 13F AUM ~1.3Bn Why is this the case? Thanks for any help.
06 May 2016
http://www.bloomberg.com/news/2013-07-09/sec-set-to-lift-80-year-old-ba… Thoughts on how this will affect the industry? What do you think really compelled the SEC to make this move, from their perspective?
10 Jul 2013