Who meets the definition of an institutional investment manager?
An institutional investment manager is an entity that either invests in, or buys and sells, securities for its own account. The term also includes an entity that exercises investment discretion over accounts owned by any other natural person or entity. Some examples of institutional investment managers include registered investment advisors, banks, broker/dealers and insurance companies. However, the definition is not limited to registered entities. It includes corporations and pension funds that manage their own investment portfolios. It also includes investment advisors to hedge funds and other private investment advisors. A natural person who exercises investment discretion over his or her own account is not an institutional investment manager.
Related Questions
- Once a Form SH filing is required, may an institutional investment manager take advantage of the de minimis exclusion for purposes of entering data into the specified columns?
- In what situation would the de minimis exclusion result in the institutional investment manager not having to file a Form SH?
- Who meets the definition of an institutional investment manager?
