Several investment banks are pronounced to be eyeing a launch of sidestep supports for sell investors with smallest investments as low as $1,000 following a launch of a Goldman Sachs account in May that lifted $58 million in reduction than dual months.
Goldman became a initial vital investment bank to launch a multi-manager sidestep account for a sell market, and other banks are pronounced to be formulation identical offerings, according to Amy Bensted, conduct of sidestep account investigate during choice item information provider Preqin.
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Bensted pronounced banks such as Merrill Lynch and UBS are exploring relocating into a area, as clients are flourishing reduction prone to rest on resources managers for choice investment solutions.
CNBC contacted both UBS and Merrill Lynch; UBS declined to comment, while Merrill Lynch was not immediately accessible for comment.
“A lot of institutional income is issuing from, say, a Credit Suisse account to a Bridgewater fund, Bensted said. “There has been a pierce from relying on resources managers or investment banks to pristine item government shops – so for investment banks, they need to get these smaller investors in and are perplexing to get them used to sidestep account investing.”
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“A $1,000 smallest investment means we could deposit in one if we wanted, so it’s about removing more
Article source: http://www.cnbc.com/id/100858768