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Is There a Trend of Asset Management Firms Buying Custom Indexing Platforms?
There has been a total trend of big asset managers buying direct indexing and custom indexing platforms, namely morgan stanley with parimetric. And then you've also seen some of the younger technology companies that really didn't get distribution, but b interesting technology had been bought up by these asset managers. If you mised e t f as a big ase management firm, you lost. You cannot miss a major change. So i think that's what's drivingit.