Size matters bigger firms mean higher losses

摘要

When a brutal recession knocks an industry's profit model on its head and sparks a wave of consolida-tion, bigger, in the end, usually means better.rnOr not, A study released in August by Northern Trust Co. using data from Web-based data collector eVestment Alliance in Marietta, Georgia, suggests that institutional investors might do better with small managers, "Size is the enemy of performance," says James Dunn, the newly appointed chief investment officer of the $ 1.2 billion Wake Forest University endowment in Winston-Salem, North Carolina. "If you're a battleship, you can't move fast enough."