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Investors are pulling money at an accelerated pace as high fees and mediocre returns send them searching for yield elsewhere.

Average management fees will be cut 8% on an asset-weighted basis.

The 82-year-old company’s strategy has helped secure net inflows in all but one of the five years through 2018.

Already, the fund has agreed to transactions involving German wind energy project developer PNE and Altice Europe’s Portuguese fiber assets.

Competition with an ever-rising stock market, the difficulty of raising assets and the steady march of time are just a few factors leading managers to the exit.

Data reported by the Investment Company Institute.

Now, armed with data from the rule’s rollout in Europe, asset managers in the U.S. have a better sense of each analysts’ worth — fairly or not.

More than half of them track the industry’s top-performing category.

Direct lenders, including hedge funds and buyout firms, are prepared to spend billions to lure borrowers away from the $1.2 trillion leveraged loan market.

So much faith has been put on the partial trade deal with China that stocks have nearly recovered since President Trump’s first round of tariffs on imports.