Ann: Funds Under Management - September 2022, page-67

@ GrahamDay: agree with most of your post

I think fund managers like MFG are gonna be the ones that get squeezed: from one side by index funds like Vanguard/Blackrock etc, on the other by the alt asset managers/PE shops like Blackstone/Brookfield/KKR. I think the later are going to be able to take advantage of opportunities better than the MFG and friends. I’m quite bearish on Aus listed fund managers overall: I don’t think MFG’s FUM is going to 0 but I think this part of the industry is in perma-decline

Like you, I’ve got a lot of index funds, and a fair bit in alt asset managers, so without shorting MFG I am still taking the opposite side of the listed asset manager bet