Banco Popular de Puerto Rico

The firm had a target of joining the "$1 trillion club." Instead, clients withdrew more than $157 billion from its 2017 merger to the end of last year.

The industry outranked asset classes including private equity and venture capital, which have historically ranked higher in a Credit Suisse survey.

The bank says an announcement on how far the current 51-cent payout would drop is expected in mid-July.

The central bank is now the third largest holder of the $54 billion iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).

The manager is still recovering from losses that started in 2015, when his main fund fell 20%, and deepened with a record 34% decline three years later.

Some of the industry’s biggest players are taking a wait-and-see approach as active, non-transparent funds take their crucial first steps.

“Time is quickly running out for these taxpayers," IRS Commissioner Chuck Rettig said in a statement.

Jacob Gottlieb, whose $8 billion fund shuttered amid an insider trading scandal two years ago, received a $150,000 to $350,000 loan for his new shop.

Amy Cooper, who was fired from her job as head of insurance investment, could face up to one year in jail, three years of probation or a $1,000 fine.

A “distribution bump” from the commission-free trading trend that took hold late last year may be behind the surge, analysts say.