Asset managers

Clients are paying about half as much to own funds as they were 20 years ago.

One of its products added a record $368 million after the firm discreetly slashed its fee in March.

Rather than developing a new family of ETFs, the asset manager created them as a share class within its existing mutual funds.

The expanded line up of index funds demonstrates one way the brokerage industry is grappling with an ongoing race to offer products at the lowest price.

As she advanced in her career, Franklin Templeton's Dina Ting had many mentors who helped her navigate challenges.

The first of her family to work in financial services, Dina Santoro leads the strategic product and marketing agenda for Voya Investment Management.

Since joining Mackay Shields as an investment management assistant 46 years ago, Lucille Protas is now president, executive managing director and COO.

Since making the decision to join Jeffrey Gundlach at DoubleLine, Luz Padilla now oversees a 16-person team with nearly $9 billion in AUM.

Since starting her career at Vanguard more than a decade ago, Denise Krisko has launched her own sub-advisory business that manages $4.5 billion.

The hiring will “reflect the changing nature of fund management,” a company spokeswoman said.

The mutual funds and ETFs that ranked at the bottom of the sector still benefited from a “long-running bull market,” an expert says.

Amid all available career paths, “I think [asset management] just found me," said Julie Genjac, managing director of strategic markets at Hartford Funds.

The Invesco QQQ Trust dropped as much as 0.6% after Google’s parent company reported first-quarter sales below Wall Street estimates.

The firm joins a growing roster of asset managers taking advantage of new tax breaks for investing in low-income communities.

The discussions, which have since been abandoned, centered on a REIT with a market value of $2 billion, according to people familiar with the matter.

The allegation was laid out in an SEC order, which hit a U.S. unit of the firm with a $500,000 penalty.

CEO Ronald O’Hanley says the poor performance reflects both the industry’s “continued challenging conditions,” as well as “lower client activity.”

The partnership aims to provide exposure to areas such as middle-market private equity, real estate and infrastructure.

The firm has experienced net outflows in each fiscal year since 2014.

The change will boost the firm’s “ability to reach a dramatically larger audience,” said CEO Stephen Schwarzman.