A Chicago-based asset manager is ramping up its outreach to institutional clients. Shay Assets Management, which runs $4.37 billion in fixed income, previously reached out to banks, thrifts and credit unions. Now, Shay is looking to attract more institutional clients such as insurance companies, pension plans, foundations, endowments and corporations.
To attract these clients, the asset manager is ramping up its efforts to market its fixed-income strategies rather than investment in its mutual funds. "We've historically been exclusively focused on managing and marketing our mutual funds products. Next year we hope to market our investment strategy rather than just a single vehicle," said Derek Casteel, marketing director. He said it is too early to determine how an increased institutional client base would affect the investments Shay purchases.
