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The majority of money gathered by Grosss new fund at Janus Capital Group Inc. came from the same Morgan Stanley brokerage where his personal financial adviser works, according to the Wall Street Journal. The wealth-management office in La Jolla, Calif., routed about $700 million to Grosss fund in October and November, the newspaper reported yesterday.
January 8 - Money Management Executive
Firms successfully developing alternative products are now targets for traditional fund giants, demonstrated by New York Life Investment Management's December acquisition of liquid alternative exchange-traded fund provider IndexIQ. But one such firm, Denver-based 361 Capital, isn't seeking merger offers. 361 Capital's president and CEO, Tom Florence, explains why.
January 7
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Vanguard Group Inc. plans to offer its first exchange-traded fund focused on the $3.6 trillion U.S. municipal-bond market.
January 7 -
The key to being quoted accurately - and more often - can be summed up in two words: sound bites. Developing the ability to speak and write in sound bites is essential.
January 6
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Investors poured $102.8 billion into exchange-traded funds run by BlackRock Inc., the worlds largest asset manager, as they made record use of the fastest-growing product in the money management industry.
January 6 -
In 2015, much of the industry's growth outlook will depend on how competition fares between the cascade of funds entering the market, currency hedging and smart beta trends, and the momentum new non-transparent ETFs can gain with investors and offerings.
January 5
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Pacific Investment Management Co.s biggest mutual fund had the worst year of client withdrawals in the history of fund management as the firm lost both of its co-chief investment officers, Bill Gross and Mohamed El-Erian. Investors pulled $19.4 billion from Pimco Total Return Fund in December, bringing redemptions in 2014 to a record $105 billion.
January 5 -
The $162.8 billion Pimco Total Return Fund returned 4.7 percent in 2014, trailing 53% of comparable funds, according to data compiled by Bloomberg. In 2013, it lost 1.9%, lagging behind 65% of peers.
January 2 -
Morgan Stanley is in talks with the U.S. to resolve an investigation into the banks creation and sale of mortgage-backed bonds, the latest in a string of Wall Street cases tied to the 2008 financial crisis, a person familiar with the matter said.
December 31 -
Year-to- date, energy ETFs have attracted $9.25 billion of new money, the most of any sector behind real estate funds and more than triple the same period in 2013.
December 30
