A soft-dollar arrangement is one where an investment manager utilizes client assets (commissions) to pay for targeted research services that assist in the investment decision-making process for the benefit of the client.

Soft dollars can make efficient use of available commissions. For example, they permit the manager to select specifically relevant research materials, rather than sifting through a market basket of 'bundled' research to pick out pertinent data - - and throwing out the rest. And soft dollars enable the acquisition of such critical ancillary tools as investment software.

Such selective use of the commission dollar is not only appropriate, but of direct benefit to manager and client alike.

The Ardrey Consulting Group provides efficient systems to capture, control, and report soft-dollar utilization to traditional investment advisers and hedge fund managers.