Research

Vaughan Associates conducted a review of employee owned Australian equity managers in early 2003. This research followed an earlier in-depth investigation of these firms, sometimes referred to as boutique managers, which led to the conclusion of these firms would be a significant force in the funds management industry in the years ahead.

The performance of the median manager (as shown in the chart below) continued to exceed broad industry benchmarks for all periods to December 31, 2003. Additional information is available from our investment consulting database.