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Sorry guys, the business case from AIMCO has so many errors that it will take me some time to deal with.
The Peter principle edition; or friends helping friends. #handsoffmypension
Let us start again with the (unsigned) TBF summary:

"Experts reviewing pension investment management, particularly in the Canadian context, find that pooling
investments reduces duplication costs"
Again, I hate to go back to this. This is a misstatement of what unnamed "experts" in Canada think. The sentence is true. But, it is inapplicable to funds that are extremely large (>$100 billion) as I pointed out yesterday.
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