Five firms are said to have expressed interest in buying a stake in Lehman's investment management business.
An index covering all nine U.S. census divisions fell 15.4% compared with the year-over-year decline of 14.2% in the first quarter.
Industry insiders believe that the ETF slowdown is little more than a bump in the road and attributable more to sour markets than exchange traded funds themselves.
The boom in exchange traded funds appears to have come to an end.
The exchange traded fund world got a little more exciting this year with the introduction of the first truly actively managed ETFs.
In the biggest shakeout thus far, 25 exchange traded funds already have closed this year, indicating that this fast-growing sector of the fund industry may be settling down.
Portfolio managers who battened down their hatches for credit market squalls, falling U.S. rates and a sagging greenback led the ranks of fixed-income performers for the 12-month period through June 30, according to Morningstar Inc.'s separate-account/commingled-fund database.
A generous portion of commodities and no exposure to financial services company stocks was the recipe for success among equity managers for the 12-month period ended June 30, according to Morningstar Inc.'s separate-account/commingled-fund database.
The second quarter hasn't been kind to mutual funds that focus on the life insurance sector.
The group will oppose the SEC's proposal to regulate certain indexed annuities as securities.
Fifteen HealthShares exchange traded funds will close as part of a reorganization of the 19 HealthShares ETFs.
The wild popularity of 130/30 funds notwithstanding, recent analysis of the unique long-short strategy suggests that advisers would be wise to check under the hood for a closer look at the portfolio and not just jump in to the latest marketing craze.
Sales hit an estimated $24.6 billion during the second quarter, up 54.1% from the second quarter of 2007.
Sales were up 3.1% from June, but down 13.2% from the same month a year ago, according to NAR.
Pacific Investment Management Co. is raising fees as of Oct. 1 on the institutional share classes of several funds.
Sun Life Financial has introduced a 6% bonus credit for customers of its Masters Extra variable annuity.
Catherine J. Weatherford replaces Mark Mackey, who in January announced that he would step down from the post.
Penn Treaty American’s reinsurer has withdrawn its agreement to back long term care policies written by two subsidiaries.
Aon Corp., the world’s largest insurance broker, will acquire Benfield Group for $1.75 billion.
The New York-based firm has chosen Vanessa A. Wittman as its new finance chief and executive vice president.
