Danish Competition Council shoots down pension funds' toasts about benefits of large scale operations in asset management
For years, asset managers and pension funds have said that the benefits of scale are crucial for sinking costs. But commercial companies in particular are in the firing line in the Competition Council's report about Denmark's pension system. The report shows that larger scale operations directly make asset management more expensive.
In the asset management industry, everyone is looking for volume. It is the way to profitability and competitive prices for investors.
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