Asset managers

The State Street fund has climbed 68% since falling to a more than seven-year low in March.

State Street’s stockpile takes up one corner of a vault in a system that stores bullion on behalf of central banks, sovereign wealth funds and others.

Firms founded by Jason Wenk allegedly failed to oversee a former advisor accused of investing clients in unregistered securities.

As liquidity disappeared amid the coronavirus-sparked mayhem, veteran fixed-income portfolio manager Gemma Wright-Casparius saw opportunities.

Withdrawals this year have equaled almost half of last year’s inflows, leaving Pimco with net outflows of $46.8 billion in the first quarter.

“This is all about having the flexibility and having multiple options for our investors,” says GSAM’s head of ETF strategy.

Crush of inflows to money-market funds has come even as the funds’ own yields approach zero.

With marketing, reporting and the Junxure CRM, the acquisition brings much more than a robo advisor to the asset manager.

Many of the executives selected this year say the industry’s future may lie in its sudden change to a fully virtual business model.

Funds advised by Katie Koch, whose firm has about $1.8 trillion under supervision, are beating their benchmarks at an 80% rate in 2020.