On cost, neutrality and infrastructure.
A new look for Kesta, and Tracer: a research agent that answers in plain English and shows the SEC filings behind every number.
14 October 2026 · 4 min read
Of 26,205 companies held by 342 funds, 536 are each held by 10 or more. We map how much of each credit fund sits in those names, and how often funds from different managers hold the same companies.
6 October 2026 · 6 min read
Among 97 interval credit funds, the 90th-percentile fund costs about four times the 10th. We separate what investors pay for the manager, for borrowing, for underlying funds and for the share class.
5 October 2026 · 6 min read
Morningstar made ETF costs comparable and reshaped public markets. Liquid alts never got that moment, and advisors are paying for it.
10 June 2026 · 5 min read
The headline platform fee is only half the story. Here is what the full distribution stack costs a firm over five years, and who really pays for it.
4 June 2026 · 4 min read
Tokenisation is turning the fund universe into a hybrid of on-chain and off-chain data. Legacy databases were not built for it. The data layer has to be.
27 May 2026 · 5 min read
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