Finance

The change will boost the firm’s “ability to reach a dramatically larger audience,” said CEO Stephen Schwarzman.

The products have benefited from the past decade of “economic expansion and bull market for risk assets,” one expert says.

The company’s acquisition will allow it to target prospective clients who are still in the wealth creation phase of life, says CEO James Gorman.

The fund aims to undercut its cheapest competitor by 1 basis point.

Taking on ESG presents fresh challenges for a $3.1 trillion industry that has grappled with sub-par returns.

The firm is benefiting some referrals from Bank of America’s other business units.

The last time SPY saw inflows of this magnitude U.S. stocks were on the cusp of a bear market in late 2018.

Headcount is down more than 1,250 since a fake accounts scandal came to light in 2016.

The regulator is on high alert as more than 10% of new launches last year targeted a theme.

Procure Holdings’ intergalactic foray is part of a broader industrywide push into so-called thematic funds.