The World of Intellectual Capital
The asset management industry is an interesting example to point out the value of intellectual capital. Many asset managers lure their clients into active investment funds and strategies on the basis of higher expected returns than the market index. In their marketing efforts terms such as “knowledge” and “skill” are used frequently as the source of the excess return. But what does this mean? Can they really substantiate this claim? Bieme’s founder wrote an article on this phenomenum claiming that investors are too complacent with their asset managers: in many cases they pay high fees for empty promises! It was published in the 2008 autumn edition of the VBA Journaal, the quarterly of the Dutch Association of Investment Analysts. Please read Eduard’s article (PDF, 218 KB) to get a flavour of intellectual capital within the asset management industry.