|
|
Article: INDUSTRY CONCERNS: Vanderbilt Capital hit by asset decline, departures; Poor performance, lack of communication with consultants cited as problems at firm.(News)(Vanderbilt Capital Advisors sees institutional tax-exempt assets drop by more than half during last five years)
- Article from:
- Pensions & Investments
- Article date:
- May 12, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Fred Williams
NEW YORK - Vanderbilt Capital Advisors LLC has seen its institutional tax-exempt assets drop by more than half during the last five years, to just more than $3 billion last year from its peak of $7 billion in 1998.
Officials at the fixed-income firm, which changed its name from ARM Capital Management in 2000, did not respond to phone calls seeking information. While Vanderbilt officials weren't talking, consultants claim the firm suffered from poor performance and a lack of communication with the consulting community.
Besides seeing its assets shrink and several pension fund clients head for the door, Vanderbilt has seen ...