All or nothing gives way to new deal for fund 'star' wantaways

April 15, 2015 12:40 PM

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All or nothing gives way to new deal for fund 'star' wantaways

LONDON (Reuters) - After watching billions of dollars of investor cash follow "star" managers exiting rivals, some Britain-based fund firms have taken a novel step to help cushion the blow: let the manager take their fund's assets with them.

Given a firm's value is based on taking a cut of the assets it holds, while investors only leave their cash with a manager on the basis of performance, asset managers have long sought to keep top performers sweet.

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