The high risks that such loss rates imply are both the cause of the high issuer cost and the flip side of high average returns on a portfolio of venture capital equities.
In a survey, large long-term institutional private equity investors reported that they generally expect a long-run rate of return on private equities of at least 15 percent, as compared with 11 percent to 12 percent for public equities, but some report that they expect the standard deviation of returns to be about twice as high--32 percent versus 16 percent.
Any return (or losses) that banking organizations capture per dollar of portfolio equities held are multiplied significantly relative to their own investment in this part of their business--both absolutely and relative to independent firms.
Commenting on the newest effort, Rick Waks said, "We have been successful to date with respect to many of our clients' product needs and have broadened our own capabilities as many of our clients increase or expand their focus on other products like equities.
Prior to joining Imperial, Aaron was a Vice President at JMP Securities in San Francisco, a boutique brokerage firm focused on small cap equities.
These firms are outstanding businesses in their own right, and they also provide significant additional diversity to AMG's EBITDA by including a range of products that are invested in Canadian equities
and bonds, in U.
The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities
, corporate and municipal bonds, government and mortgage-backed securities and over-the-counter derivatives.