What are the effects of buybacks on asset managers asset, Finance Basics

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What are the effects of buybacks on asset managers asset

Question: What are the effects of buybacks on asset managers?

Asset managers refers to the fund management companies who own the shares which are being bought back. Not the management of the company who is buying back its own shares!

Can one argue, that if companies keep engaging in buybacks, fund management companies will go out of business?

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