Results for "money managers"

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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...

Royal Bank of Canada deal with BlackRock gives it ETF heft without much cost

January 9, 2019

Royal Bank of Canada is vaulting into the No. 1 spot in Canada's rapidly expanding ETF market without much added cost with its new partnership with BlackRock Inc. Royal Bank's RBC Global Asset Management division and BlackRock's Canadian asset...

Federated Investors fires staffers after they used hand signs during TV interview

January 4, 2019

Federated Investors Inc. fired at least two employees for unprofessional conduct last month during a Bloomberg Television interview of one of the firm's money managers. "We apologize to anyone who was offended," Meghan McAndrew, a spokeswoman...

Vanguard shutters $1 billion mutual fund

January 3, 2019

The ongoing evaluation and cleanup of the fund lineup at The Vanguard Group is eliminating another large mutual fund from its big mutual fund complex. The $5 trillion asset manager announced Thursday that it will liquidate the Vanguard Convertible...

Money manager finds path to Bay Area elite through bike riding

December 11, 2018

When Stan Miranda relocated from London last year, the money manager quickly realized that joining a club of aging, Lycra-wearing finance and technology executives who bike the mountains around Silicon Valley on Saturday mornings would be great...

BlackRock leads October slide in stocks of asset managers

October 30, 2018

It's been a cruel month for U.S. asset managers. BlackRock Inc., State Street Corp. and rivals have seen their shares take a hit as jittery institutional investors have seized up in choppy markets. The other culprits: weak fee revenue and lackluster...

UBS looks for asset management deals, joint ventures

October 30, 2018

UBS Group is weighing acquisitions and joint ventures for its asset management business to help it compete with larger rivals, people with knowledge of the matter said. Targets may include U.K. and U.S. asset managers focused on retail clients...

Cheap is great; free will usually cost you

October 17, 2018

There is a basic, fundamental foundation upon which all of economics is built: Everything has a cost. The effort to get around this concept is described informally by the phrase "there's no free lunch." What is a free lunch? The notion historically...

Investors increasingly bearish on global growth

October 16, 2018

Pessimism on the global economy is piling up amid rising trade tensions and expectations the U.S. central bank will carry on tightening despite the tumult in equity markets. Fund managers surveyed by Bank of America Merrill Lynch this month...

Vanguard experiences technical problems during Wednesday sell-off

October 11, 2018

Vanguard Group, the biggest U.S. mutual fund firm, experienced technical problems Wednesday that made it difficult for some customers to access its website by phone or the internet amid the market rout. The company blamed "periodic network connectivity...

Marie Chandoha, head of Charles Schwab Investment Management, to retire

October 4, 2018

Marie Chandoha, the president and CEO of Charles Schwab Investment Managements since 2010, will retire at the end of March. She is being replaced by Jonathan de St. Paer, currently senior vice president of business strategy and product management...

Managing wealth of the world's richest is still a man's domain

September 25, 2018

Men dominate the largest financial institutions globally even as their executives say they're trying to make Wall Street more welcoming for women. The situation is even worse at family offices, outfits which manage money for the world's richest...

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...

Former CEO of AllianceBernstein raises $4 billion to launch fund company

September 20, 2018

Peter Kraus, the Wall Street veteran who recently led AllianceBernstein Holding, is starting a mutual fund company — and aiming to shake up the industry's traditional fee model. Italian insurer Assicurazioni Generali is backing Mr. Kraus's...

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...

Fidelity CEO says zero-fee funds aimed at attracting new customers

September 14, 2018

Fidelity Investments CEO Abigail Johnson said the company's decision to launch a series of no-fee mutual funds had a simple rationale: Bring in new customers. "The objective was to lower the friction and get more people to try Fidelity," Ms....

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