Carefully read the passage below and comments on the difficulty of investment management in investment banking. You may use your own creative and critical thinking approach.

It is often difficult for an investment bank to become involved in investment management, and not all such institutions participate in this line of business. It is expensive to establish an investment management business due to the cost associated with acquiring the right personnel, and there is a distinct danger of losing money. Losses in investment management do not project the correct image of an investment bank that is capable of making money, which can damage the more traditional role of raising capital. Consequently, considerable care is given to having a disciplined relative value approach, with diversification among credit names, industry sectors, geography, and asset classes.