Banco Popular de Puerto Rico

The sector historically has been “resilient to economic downturns,” ProShares wrote in the new fund’s prospectus.

The back-office staff and asset-management division bore the brunt of a decline in the overall size in the class.

The business could fetch as much as $1 billion, sources say.

“I admit I’m nervous about how our clients will react,” AQR's Cliff Asness wrote following the worst run in global equities in six years.

The merged operation will be run by someone yet to be named who will report to Jon Weiss, head of wealth and investment management.

The fund culls data on more than 6,000 public companies each day before picking about 100 of them to own.

The settlement is the latest cost for Wells Fargo stemming from a phony accounts scandal that erupted in September 2016.

For advisors that make a claim of misconduct the deck appears stacked in favor of the employers.

The new fund is part of State Street’s larger plan to push into so-called thematics.

One VanEck fund had $574 million of outflows, the most since June and almost 40% of its assets.