These equity exits differ from the debt financing route used to grow a company into a large manufacturing entity; Bioventures perceived this to be a lower-return option in most cases, and one with time scales longer than might be suitable for the fund.
As a result, Morgan Stanley has shifted gears and has aggressively expanded into wealth management, which is a lower-return business but comes with less risk".
Is a promising Alzheimer's treatment going to be worth developing if Medicare will be dictating a lower return?
The cost of investing in a low-risk position is a lower expected return (recall that historically the average return on stocks was about three times that on U.S. Treasuries), but maybe you think that's a price worth paying.
This group is currently seeing a lower return on its fundraising efforts than the groups above it in the analysis, and only a few members have received a gift over £0.5m in the last three years.
William Hill said it believed the increased wager had now made the bet a world record figure, but it was now offering a lower return on the extra £200,000 after cutting the odds on a no vote in September.
This is reflected by a lower return to an immigrant's education compared with the education of a corresponding native (see e.g. Chiswick, 1978; Baker and Benjamin, 1994; Friedberg, 2000; Alboim et al., 2005; Chiswick and Miller, 2008).
Second, more employees have exercised stock options than had been expected.Clearly, companies earned a lower return on the investments they made.
Analysts say investments in gas are likely to bring a lower return than oil as new supplies - especially from shale gas - become available.
Since investors in the company believe they'd be bailed out, they accept a lower return for funding the company's operations.
