Results for "money managers"

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Money management for social media stars

July 17, 2019

Jenn Im started making YouTube videos as a hobby nine years ago, a way to express her love for turning thrift-store finds into stylish outfits. (More:​ Millennial women take back seat when it comes to their own finances, UBS survey says) Creating...

Panic sales rekindle debate over ETF liquidity

July 12, 2019

A couple of prominent investment funds are currently living through a portfolio manager's worst nightmare: So many customers are demanding their money back that withdrawals need to be frozen. Amit Deshpande, a former longtime risk manager, sees...

American Century taps DFA vets for new factor-based business

June 26, 2019

If there was any doubt about American Century Investments' commitment to its expansion into the exchange-traded funds space, the $168 billion asset manager has put those doubts to rest with the launch of Avantis Investors. The new Los Angeles...

Asset managers hit by ever-rising costs as fees drop

June 25, 2019

Asset managers can add rising regulatory and technology costs to their list of woes as they struggle to expand revenue amid pressure to lower fees and expenses. Non-compensation costs, which also include back-office processing and office space,...

4 things to look for when picking an ESG manager

June 19, 2019

Environmental, social and governance investment strategies continued to enjoy a significant increase in assets, rising $8.7 trillion in just two years to $12 trillion in the U.S. alone, according to a 2018 report from the US SIF Foundation....

MFS settles 401(k) lawsuit for $6.9 million

June 17, 2019

Investment manager Massachusetts Financial Services Co. has reached a settlement of nearly $7 million in a lawsuit alleging the company enriched itself at the expense of employees' retirement savings by loading its 401(k) plans with costly,...

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,...

Fidelity drops Goldman, brings securities lending in-house

May 14, 2019

Fidelity Investments is cutting out its middleman — Goldman Sachs — when dealing with Wall Street short sellers. The money manager is bringing its stock-lending business in-house, according to a March 29 regulatory filing, instead of paying...

Franklin plans to cut up to 5% of workforce

April 23, 2019

Franklin Resources Inc. plans to cut as much as 5% of its workforce to help save at least $75 million as the fund company faces continued outflows. Franklin, the parent of Franklin Templeton Investments, started with voluntary buyout offers...

BlackRock rebounds as clients move from cash to fixed income

April 16, 2019

BlackRock Inc. rebounded from a rocky end of last year, as customers jumped into its fixed-income products and showed interest in illiquid alternatives. The world's largest asset manager saw $65 billion in net inflows in the first quarter, the...

Latest price-war salvo pegs fees to low-risk performance

March 28, 2019

Westwood Holdings Group, a $16.6 billion Dallas-based asset manager, is hoping to catch a ride on the price-war bandwagon with a managed-account fee model that links fees to the risk taken by the portfolio manager. To underscore the lack of...

401(k) managed accounts becoming more diverse

March 21, 2019

Some record keepers of defined-contribution retirement plans are diversifying the managed-account products they offer to employers and their employees in a bid to boost uptake and diversify their revenue streams in an environment of fee compression,...

Forget zero fees. This ETF is offering to pay investors

March 12, 2019

Free is no longer cheap enough in the ultra-competitive market for exchange-traded funds. Salt Financial, which currently runs one $10 million ETF, plans to woo buyers with a fund that will temporarily pay them to invest, according to regulatory...

Vanguard share of target-date fund market becoming 'obscene'

March 4, 2019

Vanguard Group extended its dominance over the target-date fund market last year as the flow of retirement assets into index funds continued unabated, with employers seeking to reduce the cost of their 401(k) plans. Vanguard swelled its target-date...

Vanguard to end its small cash-management service

March 4, 2019

Vanguard Group will end a service for larger customers on July 31 that lets them write checks and pay bills from a Vanguard account. The VanguardAdvantage program was launched in 2002 as a way to compete with banks. Customers who had between...

Vanguard using ETF portfolios to turn advisers into life coaches

March 1, 2019

Vanguard Group's Greg Davis has a message for financial advisers about their clients: "You are their emotional ballast for the uncertain times." The chief investment officer of the $5 trillion asset manager stressed the growing importance of...

Fidelity says it fully discloses fund fees in 401(k) plans

February 27, 2019

Fidelity Investments says it fully discloses fees that it charges some mutual funds for using the company's platform to access retirement plan customers. The fees and Fidelity's disclosure of them are being probed by the U.S. Labor Department,...

Allianz says investors pulled $35 billion in Q4

February 15, 2019

Allianz, the German insurer that owns investment firm Pacific Investment Management Co., saw outflows spike as clients fled volatile markets in the fourth quarter. Investors pulled 31 billion euros ($35 billion) of funds in the final three months...

Investing legend Jeff Vinik gets a lukewarm reception

February 15, 2019

For those who are newer to the investing world, it might seem like a foreign concept to bank on the performance history and reputation of a single portfolio manager. That's exactly the kind of wall that investing legend Jeff Vinik appears to...

WisdomTree said to have explored sale to JPMorgan Chase

February 11, 2019

WisdomTree Investments Inc. explored a sale late last year and held talks with JPMorgan Chase & Co., according to people familiar with the matter. WisdomTree's negotiations with JPMorgan ended in December because the parties couldn't agree on...

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