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    Can anyone explain what are the differences between these two types of sales in AM?
    Thanks!
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    (Original post by xtrembob)
    Can anyone explain what are the differences between these two types of sales in AM?
    Thanks!
    One sounds like sales for institutional investors (pensions, sovereign wealth, insurance, corporates etc) and the other sounds like sales for intermediaries (i.e. private banks, family offices, etc).

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    (Original post by Princepieman)
    One sounds like sales for institutional investors (pensions, sovereign wealth, insurance, corporates etc) and the other sounds like sales for intermediaries (i.e. private banks, family offices, etc).

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    Fair enough, do you think that there is a major difference between the two roles other than the clients you are facing?
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    (Original post by xtrembob)
    Fair enough, do you think that there is a major difference between the two roles other than the clients you are facing?
    Interned in AM last summer.

    Institutional investors usually know what they want already, i.e they come to you with 100m, saying they want exposure to X, and you construct the mandate for them. A few of the mandates I was exposed to, the clients were not too interested in the returns at all, but more interested in the strategy and expertise of the portfolio managers.

    Intermediaries can be different, for e.g retail and private banks, it can involve a lot of trying to onboard the funds with the PB and RB, and you don't tend to have that direct exposure to the end client as compared to insti.

    But this of course differs from firm to firm.
 
 
 
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