RT Journal Article SR Electronic T1 The End of the Boutique: Concentration in the Institutional Asset Management Industry JF The Journal of Investing FD Institutional Investor Journals SP 126 OP 134 DO 10.3905/JOI.2009.18.1.126 VO 18 IS 1 A1 Robert G Snigaroff A1 David Wroblewski YR 2009 UL https://pm-research.com/content/18/1/126.abstract AB The largest institutional asset management firms are growing quite large, relative to the competition. An important reason why is their customers, the largest institutional pension funds, are also growing larger relative to all defined benefit pension funds. We demonstrate this. Theory and empirical evidence both suggest larger firms have a performance disadvantage. We also demonstrate this and discuss implications for the funds and the managers.TOPICS: Performance measurement, pension funds, risk management