Results for "legg mason inc"

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Legg Mason cuts 12% of staff in revamp as investor Peltz joins board

May 24, 2019

Legg Mason Inc. is cutting 120 people, or about 12% of its staff, and streamlining its executive committee just days after adding investor Nelson Peltz to its board. The cost-cutting steps are "critical to our ongoing growth," Joseph Sullivan,...

ETF that doesn't reveal its assets poised to get SEC OK

April 9, 2019

An exchange-traded fund that doesn't have to reveal its assets is poised to get the regulator's blessing after a more than four-year wait. The Securities and Exchange Commission plans to issue an order granting Precidian Funds permission for...

Legg Mason to close a quarter of its ETFs

February 8, 2019

Legg Mason Inc., the Baltimore-based investment management company, plans to close a quarter of its ETFs next month. The firm is shutting three funds that focus on the U.S., emerging markets and developed markets outside the U.S. following a...

Regional broker-dealers quietly making comeback now, but the future remains uncertain

December 15, 2018

The financial advice industry frequently focuses on the rise of registered investment advisers and the independent broker-dealer market when it talks about trends in the business. But quietly making a comeback are regional broker-dealers, firms...

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...

Corporate bonds look risky after a decade of heavy issuance

May 4, 2018

Corporate debt investors, having partied like it's 1999, should remember what came after that: a big wave of defaults. The 2000 to 2002 recession looms only faintly in the minds of many on Wall Street, but it may be the best model for the potential...

Legg Mason seizes on states' fervor with an IRA program for small businesses

April 15, 2016

Asset management firm Legg Mason, Inc. on Friday debuted a retirement savings plan for small businesses, seeking to reduce the number of employers that don't offer access to a workplace savings plan and playing off a growing enthusiasm among...

Trian sells 9.9% stake in Legg Mason to Singapore's Shanda investing group

April 12, 2016

Activist investor Trian Fund Management agreed to sell its 9.9% stake in money manager Legg Mason Inc. to Shanda Group, a Singapore-based investing holding company. Trian is selling “substantially all” of the shares it owns, according to...

Adviser fears abound for fiduciary rule fallout

April 5, 2016

Every corner of the advice business is expecting to incur extra burdens from the Labor Department's new fiduciary rule, which requires that advisers to retirement accounts act in their clients' best interests. But advisers affiliated with independent...

First Goldman Sachs ETFs are cheaper than some from Vanguard

September 21, 2015

The Goldman Sachs Group Inc. made its debut managing exchange-traded funds Monday when its asset-management unit launched the first in a series of relatively low-cost index funds. Goldman is offering the new fund, the ActiveBeta U.S. Large Cap...

Legg Mason latest mutual fund manager to step into ETFs

September 8, 2015

Legg Mason Inc. disclosed plans for its first four exchange-traded funds last Friday in a filing asking regulators if it can build a suite of what it calls “smart beta” products. The plans amount to the most detailed account yet of how the...

Separately managed accounts

August 23, 2015

U.S. large-cap equity Product 2Q return 1-year return 3-year return 5-year return 5-year std dev 5-year Sharpe ratio Assets ($M) Manager Location Edgewood Management - Large Cap Growth Equity* 3.78% 12.17% 22.27% 22.33% 14.17% 1.57 $12,163.6...

Legg Mason wants to build 'better' ETFs

June 18, 2015

Legg Mason Inc. has asked U.S. securities regulators for permission to build index-tracking ETFs, a first step toward building its own business after poaching two Vanguard executives. In a statement Wednesday, Legg Mason said its application...

In latest test, active managers outperform bond indexes

June 15, 2015

Volatility is forcing bond indexes lower for the year, but active bond fund managers have been able to soften the blow. Nearly three-quarters of intermediate-term bond funds, or 71%, are beating the Barclays U.S. Aggregate Bond Index, according...

Separately managed accounts ranked by first-quarter returns

May 12, 2015

U.S. large-cap equity Product 1Q return 1-year return 3-year return 5-year return 5-year std dev 5-year Sharpe ratio Assets ($M) Manager Location Navellier & Associates - Large Cap Growth Portfolio 7.70% 19.89% 16.37% 16.90% 13.41% 1.25 $1,651.2...

Money managers like Jeffrey Gundlach scramble to jump into ETFs

April 19, 2015

Jeffrey Gundlach is no stranger to striking out on his own or launching new products. After an acrimonious split with the TCW Group Inc. in 2009, he did just that, building what has become a $63 billion business with 12 mutual funds. But when...

Liquidity restrictions haunt money-market funds

April 7, 2015

Some investors demand nothing less than unfettered access to their cash at a stable price. To deliver that, asset managers are increasingly going to be offering them money-market funds that invest almost exclusively in cash and very low-interest,...

Federated, BlackRock considering private funds to replace old money-market funds

March 18, 2015

Regulators' attempts to prevent another run on the $2.7 trillion money-market fund industry is having some unintended consequences. Some of the largest fund providers, led by Federated Investors Inc. and BlackRock Inc., are considering offering...

Investors see few benefits of lower fees in adviser-sold investments

March 17, 2015

On the whole, fees that mom-and-pop investors pay for mutual funds and other similar products have dropped substantially over the last several years. But in at least one corner of the investment universe, fees aren't budging all that much. The...

Don Froude stepping down as president of Ameriprise's personal advisers group

March 13, 2015

Don Froude will be stepping down as president of Ameriprise Financial Inc.'s personal advisers' group at the end of the month, according to SEC filings. Mr. Froude, 59, will remain at the firm in a position focused on "field initiatives and...

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