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T. Rowe Price names successor to CEO James Kennedy

May 6, 2015

William J. Stromberg was named president and CEO of T. Rowe Price Group, effective Jan. 1, spokesman Brian Lewbart said. Mr. Stromberg also will become chairman of the firm's management committee and join the board of directors at that time....

Pimco Total Return loses title of world's largest bond fund

May 4, 2015

Two years of client withdrawals at Pacific Investment Management Co.'s flagship have cost it the title of the world's biggest bond mutual fund. Investors pulled $5.6 billion from the Pimco Total Return Fund in April, after redemptions of $7.3...

Strong markets, fund flows boost Janus with Gross

April 23, 2015

Janus Capital Group Inc., the firm that hired bond legend Bill Gross in September, said profit rose 46% in the first quarter as the market rally lifted assets and its funds attracted new money for the second straight quarter. Net income increased...

BlackRock's Larry Fink gets $23.9 million payday for 2014

April 17, 2015

BlackRock Chairman and CEO Laurence D. Fink earned $23.9 million in total compensation in 2014, a 4% increase from the year before, the company's proxy statement, released Friday, shows. Mr. Fink, head of the world's largest money manager, is...

Star fund managers fading as active management loses luster

April 11, 2015

The Hotchkis & Wiley Small Cap Value Fund has returned 35% a year since the bull market began in 2009, the top-performing U.S. stock fund during the period. Never heard of James Miles and David Green, the fund's managers? That's no surprise....

Gundlach and his DoubleLine Capital reach top of the bond fund mountain

April 1, 2015

Jeffrey Gundlach's first full year as a mutual fund manager was by far his worst. It was 1994, and some of the mortgage derivatives Mr. Gundlach owned were “slaughtered” when interest rates rose sharply, according to Howard Marks, who worked...

Bill Gross using leverage to boost returns at Janus

April 1, 2015

Bill Gross is betting on leverage to lift returns in an environment of persistently low interest rates and inflated asset prices, an approach he says he shares with hedge fund managers Ray Dalio and Robert Prince. Mr. Gross wrote in an investment...

Ameriprise relaunches Columbia Management as Columbia Threadneedle Investments

March 30, 2015

Ameriprise Financial Inc.'s global asset management group Columbia Management unveiled its new global brand Columbia Threadneedle Investments in partnership with its U.K-based affiliate Threadneedle Investments on Monday. The rebranding, which...

Highland Capital ramps up liquid alternative strategy push

March 20, 2015

Highland Capital Management is ramping up its focus on liquid alternative investments by carving out a unit specifically dedicated to the fast-growing part of the $21 billion asset management company. The company is expected to announce early...

Exclusive: F-Squared Investments cutting 25% of staff

March 19, 2015

F-Squared Investments Inc., the largest ETF-based portfolio builder, is cutting up to 25% of its workforce Thursday as the firm reels from an admission it misled investors about its performance, a source with knowledge of the plans told InvestmentNews....

More money managers say U.S. stocks overvalued, cut holdings but add Europe, Japan

March 17, 2015

Money managers are reducing U.S. equity holdings amid expectations of a U.S. rate hike, said Bank of America Merrill Lynch's monthly fund manager survey. Accordingly, a net 19% of respondents reported being underweight U.S. equities, the highest...

Vanguard reshuffles leadership despite success with advisers

March 11, 2015

After posting its most successful fund-sales year ever, The Vanguard Group Inc. is reshuffling its U.S. leadership ranks, including the division that competes for the attention of third-party financial advisers. Thomas M. Rampulla, who helped...

Gross giving himself four years to re-establish track record

March 2, 2015

Bill Gross, the money manager who jumped to Janus Capital Group Inc. in September from the bond giant he co-founded, said he'll keep trading for the next two to four years to prove he can still beat the market. “I wanted to show clients and...

Four reasons Berkshire Hathaway and Buffett are so successful

February 28, 2015

Warren Buffett's latest annual letter to Berkshire Hathaway shareholders is out, and because it's the 50th anniversary, the letter offers a little something extra. Both Mr. Buffett and his second-in-command Vice-Chairman Charlie Munger have...

Gross says Pimco fired him

January 13, 2015

Bill Gross said he was fired from Pacific Investment Management Co., the first time he's publicly confirmed that he was dismissed from the firm he co-founded in 1971. In an interview with Bloomberg View's Barry Ritholtz, Mr. Gross said he offered...

Pimco money manager let go after trading violations

December 31, 2014

Rahul Seksaria, a money manager at Pacific Investment Management Co. running inflation-protection strategies, was dismissed after CME Group Inc. fined him for improper trades. Mr. Seksaria in April 2012 “orchestrated and prearranged trades...

Pimco focuses on talent retention as other firms take assets

November 10, 2014

Pimco's chief executive said on Monday his firm has risen to the challenge of losing its star investor, Bill Gross, and is rolling up its sleeves and moving on. The executive, Douglas M. Hodge, said that Mr. Gross' eventual exit from the firm...

Struggling active managers face the reckoning

June 8, 2016

Active investment managers have done a pretty poor job of beating their benchmarks. And to add insult to injury, AllianceBernstein CEO Peter Kraus says the $30 trillion industry may need to cut assets by as much as a third. One of Dodd-Frank's...

Alan 'Ace' Greenberg, who remade Bear Stearns, dies at 86

July 25, 2014

Alan C. “Ace” Greenberg, who as chief executive officer of Bear Stearns Cos. transformed a small bond shop into the fifth-largest U.S. securities firm before it collapsed in 2008 in one of the key events of the global credit crisis, has...

New Russell owners likely to sell asset manager

July 11, 2014

Russell Investments' asset management and consulting businesses will most likely be sold by the London Stock Exchange Group PLC, which is purchasing the entire firm for $2.7 billion, sources say. The price tag for those business lines could...

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