Money Management Executive Latest News

Neuberger Berman has hired 22 emerging markets debt (EMD) investment professionals, 19 of whom have joined the firm from ING Investment Management, where they managed over US$16 billion in EMD assets.

Direxion has added two new leveraged inverse products to its repertoire. The Direxion Daily Brazil Bear 3x Shares (BRZS) seeks to capture 300% of the inverse performance of the MSCI Brazil 25/50 Index.

Invesco Ltd. (IVZ), owner of the Invesco, Van Kampen and PowerShares funds, said first-quarter profit rose 15 percent as record client deposits lifted assets.

Franklin Resources Inc. (BEN), manager of the Franklin and Templeton mutual funds, said fiscal second- quarter profit rose 14 percent as gains in global stock markets increased assets under management.

New Dawn for Money Fund Reform

WisdomTree Investments, an ETF sponsor and asset manager, reported net income of $7.9 million for the first quarter of 2013, up seven times from the year ago quarter and 50% from the fourth quarter of 2012.

First Trust Advisors L.P. will launch the First Trust Senior Loan Fund (FTSL), its fourth actively managed ETF, on May 2. The fund will bring the firm’s total number of ETFs to 76.

Fixed-income exchange-traded funds have made big strides in asset gathering over the past five years, rising from $53.7 billion in 2008 to $229.1 billion by March of 2013, according to Lipper.

BMO Global Asset Management has named John Boritzke, managing director, as head of fixed income.

Multistrategy alternative mutual funds experienced strong asset growth of 37.4% in 2012 compared to single strategy at 17%, according to Cerulli’s latest U.S. Monthly Product Trends.