Will the Fund Industry Support Bloomberg?

SumZero polled its membership on the prospects of Bloomberg as president. The results suggest that fund professionals are enthusiastic about more than just their terminals; almost 70% of respondents indicated they would support Bloomberg for president.

Last week Mr. Bloomberg, former mayor of New York City and 44th wealthiest person in the world according to Forbes, instructed advisers to draw up plans for a potential independent campaign in this year’s presidential race. 73 year-old Bloomberg indicated he would spend at least $1 billion of his personal wealth on a campaign.

The strong support of the fund industry corroborates the widely held belief that Bloomberg will sap votes from Democrat candidates, which were largely favored in a recent SumZero presidential poll.