(Bloomberg) -- The world’s largest asset managers are muscling into an academicdebate, attempting to rebut research into their market power beforelawmakers latch onto it to support investing curbs.
In a paper set for release this week, BlackRock executives led by Vice ChairmanBarbara Novick question the methodology and conclusions of academicwork that finds that asset managers’ ownership stakes in rivalcompanies can undermine competition and lead to higher prices forconsumers. The firm’s executives said it’s too early for governmentofficials to take action based on the studies.
Researchers at the University of Chicago and Yale Universityhave proposed curtailing big asset managers’ investments in a givenindustry. Another study sets out possible changes to votingrules.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
