Capital markets

The $217 billion alternative asset manager reported its biggest loss as a public company in the first quarter.

The latest cash influx values the fee-free trading app at $8.6 billion.

The manager joins firms including JPMorgan and Arena Investors in seeking opportunities in the sector, particularly in the wake of the coronavirus pandemic.

Almost 90% of smaller fund managers would no longer have to report their investments and their firms would save $136 million a year, the agency estimates.

Mass exodus from the market has forced managers to dump securities to raise cash, sending prices tumbling the most in at least four decades.

Affluent investors are concerned about transparency, performance and value, according to a new report by Capgemini.

Its rivals have been building out their own insurance arms in recent years and have brought on executives who can help them attract more business.

The firm announced plans in March to acquire $200 million of its stock and has been in the market on average once every three trading days since.

The leaders raked in a combined $949 billion over the past decade.