Asset management

Funds of funds, pensions, consultants, family offices and endowments have pulled $16.4 billion from generalist long-short equity funds this year.

The price rise and concurrent yield slide on BB-rated bonds is giving some planners pause.

Under the proposed structure, the funds will conceal a portion of their assets and instead publish a list of securities that’s highly correlated to the performance of the portfolio.

Cash flow has subsided and market conditions have changed since the fund was closed to most new accounts in 2016.

The indexing giant’s pilot Digital Advisor will be priced at 15 basis points, but allocate client assets almost entirely in proprietary funds.

"Asset managers, like many businesses today, are being asked to do more with less," an executive says.

The firms broke with Climate Action 100+, a group of money managers overseeing more than $33 trillion, during this proxy season.

Some accuse index funds of promoting monopolies and distorting markets, among other horrors, but nothing has stemmed the wave of inflows to passive.

“What we’re trying to build here is something that stands the test of time,” says Todd Boehly.

Investment in technology and data management is becoming increasingly critical to distribution, and to managing regulation, reporting and operations.