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Cetera brings in money managers to advise reps

October 9, 2011

Cetera Financial Group Inc. is launching a mutual fund/ETF advisory program that will give financial advisers in the firm's three broker-dealers access to institutional services and advice from three major money managers. Wilshire Associates...

Asset management revenue, profits down in 2016 for first time since 2008

July 12, 2017

Rising markets aren't a haven for money managers. For the first year since the 2008 financial crisis, revenue earned by asset management firms globally fell in 2016 along with profits, according to a report Tuesday by Boston Consulting Group....

Fidelity Investments closes door on institutional business as retail remains key focus

November 16, 2015

The formation of Fidelity Institutional Asset Management marks the end of the road for Fidelity Investments' long-struggling institutional business, Pyramis Global Advisors. Sources said that throughout its 10-year existence, Pyramis faced issues...

Private exchanges are looking to lure money managers

May 1, 2011

Executives at illiquid-asset exchange SecondMarket Inc. want traditional money managers to use their company. “Asset managers are at the top of our target list,” said Jeremy A. Smith, chief strategy officer and head of the private-partnerships...

Marsico restructures buyout debt

November 21, 2010

Executives at Marsico Capital Management LLC have restructured $2.7 billion in debt as they fight for their company's survival three years after a highly leveraged deal to buy back the firm from Bank of America Corp.. The restructuring, which...

BlackRock faces backlash for supporting 'fat cat CEOs'

May 23, 2016

BlackRock is in the hot seat for being “soft” on high pay for corporate executives. The world's largest asset manager faces an angry throng toting an online petition. In reading the Fed's tea leaves, the market might have overlooked a couple...

Bank-owned asset management firms hustle to earn their keep

January 25, 2010

Money managers owned by global investment banks are re-engineering their business models in response to mounting pressure to earn their keep. “The successful bank-owned asset manager must prove its worth by winning assets to manage in open...

Money manager and radio personality charged with foreign-currency fraud

December 6, 2009

The Securities and Exchange Commission has obtained an emergency court order freezing the assets of a Minneapolis money manager and a nationally syndicated radio personality for allegedly operating a foreign-currency-trading scheme. Patrick...

Eliminating fear as a factor

December 6, 2009

In his 38 years in the business, I. Craig Hester has never seen clients as scared as they were during the market downturn. “Many times, I thought I had witnessed the emotion of fear — in 1987 and again on 9/11. It turns out, relatively speaking,...

Al Frank Asset Management buys Innealta

December 1, 2009

Al Frank Asset Management Inc. today announced it has acquired Innealta Portfolio Advisors LLC, a quantitative asset management firm specializing in the creation and tactical management of exchange-traded fund portfolios. “This acquisition...

A rosy quarter for assets under management

November 15, 2009

The latest quarter was an enormous relief for many major money managers, which reported gains in assets under management for the three-month period ended in September, though several still saw declines from a year earlier. Affiliated Managers...

Back in the game: Gary Black, former Janus CEO, launches investment shop

October 23, 2009

Gary Black, former CEO of Janus Capital Group, launched a new money management firm, Black Capital Management, in New York. In a telephone interview, Mr. Black said his firm, which will be SEC registered, will offer traditional long-only as...

Stock jockeys feeling bullish, Russell finds

June 23, 2009

Investment managers are gathering into a bull stampede, according to the latest findings from Russell Investments. The Investment Manager Outlook, a quarterly survey of approximately 300 institutional money managers, found that while most managers...

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...

Gross' fund at Janus suffers worst monthly redemptions since October

July 9, 2015

The Janus Global Unconstrained Bond Fund suffered its worst monthly redemptions since bond legend Bill Gross started managing it in October. Clients pulled an estimated $39.8 million from the bond fund at Janus Capital Group Inc. in June, bringing...

Janus acquires fund firm to give Bill Gross a co-manager

July 1, 2015

Bill Gross, who has been running the $1.5 billion Janus Global Unconstrained Bond Fund since leaving Pacific Investment Management Co. last year, is getting a co-manager. Janus Capital Group Inc. on Wednesday said that Kumar Palghat, who worked...

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