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Rydex SGI aims to refocus on asset management

June 14, 2009

Rydex Investments, now Rydex SGI, is repositioning itself to focus on an expanded set of asset management capabilities. That is the idea behind the re-branding of the firm, the result of a merger last month between Rydex Investments of Rockville,...

BlackRock deal for BGI near

June 5, 2009

BlackRock is likely to announce an agreement to buy Barclays Global Investors from Barclays, creating the world’s biggest institutional money manager, according to sources who declined to be named. A source not directly involved in the deal...

Neuberger Berman targets brokers, advisers

May 10, 2009

Executives of Neuberger Berman Group LLC, now running the $155 billion money manager as an independent firm, plan to share some of their institutional-only investment strategies with investment advisers and individuals for the first time. The...

Morningstar unveils study of the best and worst 529 plans

April 23, 2009

Morningstar Inc. today released its annual list of best and worst Section 529 college savings plans. The study, which involved 80 plans, focused on the underlying funds, expenses, diversification, asset allocation and flexibility, the Chicago-based...

Perkins reopens fund to new investors

March 13, 2009

Perkins Investment Management LLC today announced that the Perkins Small Cap Value Fund (JSCVX) will reopen to new investors. The $697 million fund has been closed since February 2000 and the reopening is effective today. The firm also added...

Putnam employees to work more hours

March 13, 2009

Employees at Putnam Investments will work longer hours starting May 4 when a companywide change in the workweek is implemented. Full-time employees will start working 37.5 hours a week, a company spokeswoman confirmed today. Employees had been...

Morgan Stanley seeks 'star' manager

February 27, 2009

Morgan Stanley is quietly hunting for a new top executive to run its investment management business, one of the world’s largest — albeit shrinking — money management operations. According to several industry sources, the brokerage firm’s...

AllianceBernstein vet tapped as GMO’s first CEO

February 12, 2009

Marc Mayer, a 20-year veteran of AllianceBernstein LP, was tapped as the first chief executive of GMO LLC, a spokesman confirmed today. His arrival in March will mark a departure from the collective-management structure that has characterized...

Genworth picks State Street as manager

February 12, 2009

Genworth Financial Wealth Management Inc. of Pleasant Hill, Calif., today selected State Street Global Advisors of Boston to manage a series of six tactical-asset-allocation portfolios using State Street’s SPDR exchange traded funds. These...

European hedgers bleed assets

February 9, 2009

The hedge-fund-of-funds sector in Europe may lose three-quarters of its assets, compared with the beginning of 2008, according to an analysis published today by London-based news service Reuters Group Ltd. The fund-of-hedge-funds industry was...

BNY Mellon buys two investment boutiques

February 9, 2009

BNY Mellon Asset Management, a unit of The Bank of New York Mellon Corp., today announced the purchase of two investment boutiques: one focused on the management of domestic Australian equities and the other on emerging markets equities and...

American Century plucks Lehman money managers

January 13, 2009

American Century Investments has hired two former money managers from Lehman Brothers Asset Management, a unit of Lehman Brothers Holdings Inc. of New York. John Lovito and Federico Garcia Zamora recently joined the firm as co-portfolio managers...

S&P Ratings gives BlackRock an A+

August 28, 2008

Standard & Poor's Ratings Services has increased its ratings for BlackRock Inc.'s long-term corporate credit rating and its short term rating, due to the New York-based money manager's “strong operating performance” during the “current challenging...

Massachusetts pension board fires five managers

August 7, 2008

The Massachusetts Pension Reserves Investment Management Board fired five managers , including Legg Mason Capital Management, a subsidiary of Legg Mason Inc. of Baltimore, for inconsistent performances and high-tracking errors. Others fired...

Contrarians speak up

June 27, 2008

Being a contrarian and seeking out companies that other managers ignore could be the key to a successful strategy, said asset managers who spoke at the “Undiscovered Managers” panel yesterday at the Morningstar Inc. conference in Chicago....

Pyramis names new president

June 20, 2008

Pyramis Global Advisors, a division of Fidelity Investments of Boston focused on institutional asset management, announced yesterday that Kevin C. Uebelein has been named president and chief executive. Mr. Uebelein succeeds Peter J. Smail, who...

Brinker Capital hits asset milestone

May 22, 2008

Brinker Capital Inc. has surpassed the $10 billion mark in assets under management. Last month, the 15-year-old company posted first quarter asset inflows of $712 million, the largest in the history of the company. Brinker, a Berwyn, Pa.-based...

Phoenix to spinoff asset management

February 8, 2008

Phoenix Cos. of Hartford, Conn., plans to spin off its money-management division, Phoenix Investment Partners, to shareholders as part of an effort to re-brand itself as a “pure play” company serving high-net-worth clients. The transaction...

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