Because most of them get caught up in the non RR issue inequity CR's like everyone else. Well the ones not wise to it anyway. It's not just in small caps.. it's rife everywhere on the market IMHO... just take a look at the banks and several other large cap raisings post 2008. My guess is most insto fund mangers and super funds etc don't have a clue what share dilution really is
Anyway. Why not just do RR all the time ? then there would be no argument. A much more level playing field. Would take that bias out of the performance equation once and for all. Cheers.
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Because most of them get caught up in the non RR issue inequity...
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