Bulk of the outflow occurred at Allianz unit Pimco.
His struggle to attract assets shows how low fees and passive investing have brought star managers back down to earth.
Sources say Kestra is being valued at between $600 million and $800 million, about eight to 10 times EBITDA.
But a memorable stock ticker can give exchange-traded funds a boost.
IBD agrees to repay customers $1.9 million in addition to a $225,000 fine
Bigger cash weightings reveal a preference for safety over returns as the bull market ages
Readers are flocking to stories on tax-free munis — but why?
Both will now offer more than 500 exchange-traded funds on a commission-free basis.
ETF fees have fallen, but so far no providers have matched Fidelity's offer of free mutual funds
Investors need an active money manager for one simple reason: to protect them from themselves
Discussions ended in December because the parties couldn't agree on a price.
The firm is shutting three funds next month following a review of its product lineup.
Investors are moving out of ETFs to buy single stocks, with active bets seen as the key to outperformance.
These are the first models to include exchange-traded funds.
When it comes to fixed income, active management helps investors avoid the inherent biases of bond indexes.
State and local government bonds tend to outperform when taxes are rising.
His returns at Janus failed to live up to his stellar long-term record at Pimco.
Renaissance Technologies workers have seen their Roth IRA holdings in its Medallion Fund grow eight-fold in five years.
Franklin Templeton's Sonal Desai sees two more rate hikes this year, citing the U.S. economy's continued strength.
Convertible securities fund to be liquidated because it attracted the wrong kind of investors.
