Fund performance

Assets in fixed-income ETFs have exploded, increasing 380% since January 2010.

The new regulations are adding more pain to funds that have been plagued by seven years of the Fed's zero interest-rate policy.

Active asset managers such as GAM are facing higher regulatory costs and the growing popularity of low-cost ETFs that passively track markets.

The views echo concerns expressed by some managers as stocks reached record highs and bond yields plunged to historic lows.

The hedge fund's legal woes, however, have taken a toll on the company's stock, which has fallen about 71% in the past year.

Equities and currencies are extending two months of gains after a report showed U.S. gross domestic product grew at less than half the pace forecast by analysts.

Michael Sonnenfeldt doesn't mince words: "There is no safety in safety," the founder of Tiger 21, a network of "ultra-high-net-worth" investors, said.

Dividend Growth attracted $3 billion over the past six months and its assets have almost doubled over the past three years.

In its asset management business, State Street had net outflows of $35 billion in the quarter.

The firm says second-quarter revenue dropped at its prime finance unit, extending a slump beyond businesses that Germany's largest lender is seeking to exit as client concerns added to volatile markets.