Results for "money managers"

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Invesco said to be in talks to purchase OppenheimerFunds

September 21, 2018

Invesco Ltd. is in talks to buy Massachusetts Mutual Life Insurance Co.'s OppenheimerFunds unit, which has more than $248 billion in assets under management, according to a person familiar with the matter. A deal could be announced later this...

Stocks are doing OK. Asset managers' stocks? Not so much

September 14, 2018

The U.S. stock market is having another solid year. You wouldn't know it by looking at the shares of companies that manage money. The S&P index of 18 asset managers and custody banks is down almost 11% this year, compared with a gain of more...

Active fixed-income management makes sense now more than ever

September 7, 2018

Cracks are beginning to appear in the case for passive investing, especially in the fixed-income world. Morningstar data show that the majority of actively managed bond funds in the intermediate-term bond category outperformed their passive...

Three disruptions reshaping fixed-income markets

September 4, 2018

Fixed-income markets are growing more efficient by the day, and with this, the old guard of bond fund managers is under pressure. Former stars at established firms are fading — in some cases fast — as market data grow wider, deeper, and...

Millionaire boom in Asia pushes highest rate hike in decade for wealth managers

September 4, 2018

With great wealth comes great remuneration. Competition to manage the money of Asia's burgeoning army of millionaires has pushed pay hikes for wealth managers to the highest in more than a decade. Those willing to jump to a rival are getting...

As ESG investments boom, asset managers seek out fixed-income options

August 30, 2018

Wall Street's do-good investment boom is finally taking notice of the credit markets. Sustainable investment assets grew 37% last year, according to Bloomberg data, but the majority of those funds focus on stocks. That's leading to some awkward...

JPMorgan Chase axes about 100 asset management employees

August 22, 2018

JPMorgan Chase & Co. is dismissing about 100 workers in its asset-management division after a business review, according to a person briefed on the matter. The cuts are global and range across several businesses in the group, said the person,...

Money managers prep for $1.5 trillion in corporate cash

August 17, 2018

The biggest U.S. asset managers are going head-to-head to win a piece of a $1.5 trillion corporate cash comeback. That's the sum companies are expected to bring onshore under the U.S. tax overhaul passed last year, according to Invesco estimates....

Rob Arnott of Research Affiliates cedes CEO title

August 10, 2018

Rob Arnott, founder of smart beta and asset allocation manager Research Affiliates, is relinquishing his CEO duties but remains chairman of the firm, a company spokesman said. Katrina Sherrerd, president and chief operating officer, was named...

MassMutual is considering sale of OppenheimerFunds division

August 10, 2018

Massachusetts Mutual Life Insurance Co. is weighing a sale of asset manager OppenheimerFunds Inc., which could fetch at least $5 billion, according to people familiar with the matter. The insurer is working with advisers to evaluate a sale,...

Vanguard isn't taking in as much money; neither is anyone else

July 6, 2018

Vanguard Group is attracting a lot less money from investors this year compared with 2017. Turns out, the mutual fund giant's not alone. Vanguard, the world's second-largest money manager, collected $138 billion in the first half of 2018, down...

Midsize asset managers face a squeeze

July 6, 2018

Rumors of the demise of medium-sized asset managers have proved to be greatly exaggerated, so far. But in the next five years, a combination of rising costs, a stagnant pool of profit and dwindling revenue will hasten a divide in the industry...

Celebrated investor Jim Rogers launches ETF

June 21, 2018

Celebrated investor Jim Rogers has launched an exchange-funded fund. The most intriguing question about this news: Will the perennially bearish Mr. Rogers be able to stay invested? The Rogers AI Global Macro ETF (BIKR), which launched Thursday,...

Former Morgan Stanley rep barred for using customer funds

June 14, 2018

A former Morgan Stanley broker, who was discharged in 2016, has been barred by the Financial Industry Regulatory Authority Inc. for making improper use of a customer's funds. Finra said that between April and July 2016, Justin Travis Mair "converted"...

Stifel loses $400 million adviser team to Janney

June 14, 2018

The Gormley Furlong Wealth Advisory Group, an eight-person team managing or administering $400 million in client assets, has joined Janney Montgomery Scott in Yardley, Pa. The group was previously affiliated with Stifel Nicolaus. Timothy P....

Wells Fargo duo managing $336 million moves to Raymond James

June 13, 2018

Thomas Monroe and John McDermott, who managed $336 million in assets at Wells Fargo Advisors, have moved to the employee unit of Raymond James in West Hartford, Conn. Moving with them is Wendy Petrovits, their client service associate. ​ Mr....

Funds like Magellan need gamblers like Bill Gross

June 7, 2018

I know why investors don't care about Fidelity Magellan's comeback. As Bloomberg reported on Monday, the mutual fund made famous by hall-of-fame stock picker Peter Lynch is enjoying a resurgence after years of mediocre performance. The fund...

Baird acquires $2 billion M. Griffith Investment Services

June 6, 2018

Baird, the wealth management firm based in Milwaukee, Wis., has agreed to acquire M. Griffith Investment Services, a hybrid advisory firm managing and overseeing $2 billion in assets. Terms of the acquisition were not disclosed. M. Griffith,...

Neil Hennessy: Active managers can grow their assets with acquisitions

June 5, 2018

Neil Hennessy is founder and chief investment officer of Hennessey Advisors Inc., a $6.6 billion publicly traded investment management company that offers 14 mutual funds to the public. Mr. Hennessy, who started his career as a PaineWebber broker...

Florida lures money managers

June 4, 2018

Florida's long-running effort to lure Wall Street hotshots is gaining traction thanks to a provision in the federal tax law that hits residents of high-tax states. The Sunshine State's most recent conquests are two of the founders of I Squared...

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