Boutiques take hold in NZ
David Scobie, of Mercer, recently released research that shows nine of the 11 major fund managers in the New Zealand market have some form of ownership by key staff. That compares to 2008, when five of the biggest operators were in full corporate ownership.
Scobie said the growth of boutique managers was a global phenomenon.
“Helping drive the rise is the fact that boutique structures offer investment managers, who have often forged a career as part of a larger organisation, the opportunity to work for themselves and determine their own destiny,” he said.
“A trend towards improvements in available technology, outsourcing options and custody arrangements have helped solve a lot of the back office administration problems that represented a hurdle for smaller operators in years gone by. That said, regulatory requirements and costs represent a real hurdle to new entrants.”
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