Money Management Executive

Bank of America Looks to Build Instead of Buy

Published July 19, 2001, 1:00 a.m. EDT

1 Min Read

New Managers Brought on to Run Value Funds

Processing Content

Banc of America Capital Management has opted to hire a pair of value portfolio managers rather than acquire a value shop, according to company representatives. Lori Ensinger and Diane Sobin both come from New York-based Zurich Scudder.

Company spokesperson Richard Brown said that the firm had been exploring the possibility of an acquisition but decided instead to hire individual portfolio managers for economic reasons.

Indeed, the current economy has brought value into great demand at more than just the fund supermarkets; Bank of America hasn't been the only one shopping for value. Tech fund Kinetics Asset Management has been looking in that direction and Berger Funds has considered a similar move. John Hancock Funds has also had its eye on deep value.

The new portfolio managers allow Bank of America to develop internally manage value products, and Ensinger is anticipated to help develop new mid- and small-cap products.

'The hiring of Lori and Diane gives us the opportunity to roll out additional products in the value segment and add to our standing as one of the nation's leading investment management firms,' said Rob Gordon, co-chairman and chief marketing officer at Bank of America.

The pair will also take over management of the firm's value products not currently sub-advised by San Diego-based Brandes Investment Partners.

For reprint and licensing requests for this article, click here.

Money Management Executive

MORE FROM FINANCIAL PLANNING

Wealth management

Firms push to make private markets more like publics

As regulators lower regulatory hurdles, many advisors are seeking greater access to private investments, while asset managers and fintechs are trying to eliminate technical barriers keeping regular investors out.

By Dan Shaw
Reporter

September 28
Tax

Navigating the pitfalls and perks of private-placement life insurance

Private-placement life insurance can offer tax-free growth and alternative investments for ultrawealthy clients, but advisors warn it isn't right for everyone who can afford it.

By Zoe Sagalow
Reporter

September 28
Wealth management

For RIA custody, Betterment's platform fees will begin at 0.20%

Betterment Advisor Solutions, formerly Betterment for Advisors and Betterment Institutional, is changing its platform fees into a tiered rate that begins at 0.20% for advisory practices with less than $10 million in the business, Betterment CEO Sarah Levy says.

By Tobias Salinger
Chief Correspondent

September 28
Professional development

Financial Planning's September CE quiz now live for subscribers

Earn credit toward industry certification while staying up to date on key financial planning topics and strategies.

By Editorial Staff

September 28
ESG

What climate finance means for portfolios

As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.

By Grace L. Williams
Reporter

September 25
Wealth management

RIAs working with Schwab get higher-yielding option for clients' cash

As AI threatens firms' lucrative business managing uninvested cash, Schwab gives its RIA partners a new way to keep clients' cash holdings sticky.

By Dan Shaw
Reporter

September 25

Load More