Description
Book SynopsisThis groundbreaking new book answers to an essential question: why is it that a fund client selects, or an investment consultant recommends, one asset manager over another when the two are, on paper at least, very similar?
Table of ContentsAbout the Authors Introduction 1 - What Drives Asset Flows? Follow the money Fly on the wall A detour: can selectors pick top-performing managers? Summary 2 - Soft Factors in Asset Manager Selection Soft factors in flow of funds data Soft factors in survey responses What do selectors want? What do selectors (really) want? Summary 3 - The Role of Trust in Economic Relationships The logic of good intentions The definition of trust Social capital Summary 4 - Types of Trust System trust Role trust Interpersonal trust The interaction between the three types of trust Summary 5 - Warmth and Competence Dual dimensions of impression formation The evolutionary origins of warmth and competence Stereotypes, emotions, and behaviour Warmth and competence in social perceptions In the kingdom of the cold, the lukewarm is king Summary 6 - Lessons from the Most Trusted Professions A worldwide ranking of trust in professions Trust in patient-doctor relationships Money managers should learn from doctors Summary 7 - The Foundations of Interpersonal Trust The love drug Trust by physical cues Trust by social cues Manufactured trust Summary 8 - The Curse of Competence Trust in bankers hits new lows The warmth-competence trade-off A worthwhile trade Stop trying to appear competent Concede competence strategically Detour: A promotional video Summary 9 - Developing Interpersonal Trust Value congruence Caring Vulnerability Psychological distance and trust Trust repair Summary 10 - The Missing 'It' What we found out on the way Annex 1 Trust games Trust around the world
