Follows Other Publications in Requiring $50 Million in Assets
The change at the Times follows that of two other news publications earlier this year. In April,
'This is something that is really changing the landscape of the industry,' said Ann Becker, president of Thompson Becker International, a financial services public relations firm. 'The daily charts are a key point of visibility for funds. When your performance is good, especially for a smaller funds, having that appear in the daily tables is critical. You want your shareholders to be able to open the paper and see your fund.'
Appearing in the daily listings of the major publications is important enough for funds that the recent changes may prompt them to merge funds, according to Becker. Some firms may aggregate the assets of more than one fund to lift the total assets over the new $50 million mark, she said.
The marketing options for small funds that are eliminated from the charts are very limited, according to Becker. 'The daily listings are such a critical visibility point for smaller funds, especially because its free,' she said. 'General media advertising is so expensive, funds will have to turn more to Web advertising, direct mail marketing, public relations, and increased sales forces.'