Decline sees dollar amount fall to lowest level since 2007
And the outlook for the coming year is more of the same, Greenwich reports. Approximately a quarter of large institutional investors plan to make ‘significant reductions’ to active domestic equity allocations and 16 percent plan ‘sizable reductions’ in passive US equity allocations by 2014.
Greenwich said several brokerage firms are ‘cutting back on headcount, consolidating trading desks, scaling back coverage and otherwise reducing the level of resources devoted to US equities. Smaller brokers and regional players are feeling the most heat.’
As origninally posted on InsideInvestorRelations.com.