Capital markets

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.

One theory for underperformance has been the long steady gains in markets since the financial crisis.

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

People familiar with the matter said that Centerbridge Partners is in talks to buy the four-firm, 6,500-advisor IBD network.

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 large aggregator faces questions about its future.

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

The products have benefited from the past decade of “economic expansion and bull market for risk assets,” one expert says.

The fund aims to undercut its cheapest competitor by 1 basis point.

Taking on ESG presents fresh challenges for a $3.1 trillion industry that has grappled with sub-par returns.

The last time SPY saw inflows of this magnitude U.S. stocks were on the cusp of a bear market in late 2018.

The regulator is on high alert as more than 10% of new launches last year targeted a theme.

Procure Holdings’ intergalactic foray is part of a broader industrywide push into so-called thematic funds.

Fund companies could launch a new type of product that does not have to reveal its assets.

The firm unveiled a discount in a footnote on page 94 of a revised regulatory filing.

VanEck, Hartford Funds and DoubleLine are among the firms with executives being honored.