I want to know the answer to the following question:
What rationale did asset managers who continued to invest in over-priced investments to the detriment of their clients use?
All the background I'm provided with is that "Many asset managers chose to continue to invest client funds in over-priced (under-yielding) investments, to the detriment of their clients, in order to maintain their assets under management.". Is that enough to answer the question?
Answer: no