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Some asset managers, meanwhile, have begun planning for a new generation of exchange-traded funds.
The sale and some asset write-offs are expected to save about $37 million a year.
Some asset classes (particularly illiquid ones) can be subject to a "rowing boat" effect.
But mutual-fund sectors are not equal: some asset classes are likely to have a higher average return than others.
That grip, regulators and advocacy groups say, empowers those banks to overcharge some asset managers and companies that buy derivatives.
The highly leveraged buy-out followed by a sell-on – perhaps with some asset stripping along the way – just does not work anymore.
Similar(15)
That looks dangerous, given fears that the agencies have over-estimated the creditworthiness of some asset-backed securities (see article).
So does a proposal by the Federal Deposit Insurance Corporation, which regulates some asset-backed securities originated by banks.
While some asset-rich, income-poor pensioners might face difficulties with increased bills, at a local level councils could defer payment until death or sale.
This isn't a completely new method of analysis: Horiuchi is applying to political economy an approach similar to what some asset-management companies apply to investing.
Credit Suisse surprised investors on Feb. 19 when it announced that "a small number" of traders had mispriced some asset-backed securities, forcing the write-down.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com