Mutual fund managers in China are waiting for the economic outlook to improve before they launch new funds, according to China Knowledge Press.Industry insiders say that as of Aug. 18, managers of 16 funds that have already received approval from the China Securities Regulatory Commission, including nine stock funds and seven bond funds, are waiting to launch until the Chinese stock market and investor attitudes improve.According to official statistics, there were 88,000 new accounts for fund investment in July, down 19% from the prior month. There were 5 million new accounts added in August 2007.
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Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
July 16 -
The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
July 16 -
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
July 16 -
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
July 16 -
The accusations led to the end of 16 years at the firm.
July 15 -
In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
July 15