Investment returns

Net income also dropped to $319 million, or 79 cents a share, from $373 million, or 89 cents, a year earlier, the firm reports.

Investors paid 61 cents for every $100 managed in 2015, down from 64 cents in 2014 and and 73 cents five years ago.

Smart-beta styles underlie about one in five ETFs globally with an estimated $400 billion under management, and if they plunged, millions of investors would be burned.

Fidelity needn’t settle for another me-too lineup of smart beta ETFs.

Bonnie Baha, the global developed credit director at DoubleLine, discusses several challenges facing fixed income.

Treasury ETF net redemptions have reached $2.9 billion so far in April, on top of $4.8 billion pulled out in March.

The biggest U.S. mutual fund company led in estimated flows to both actively managed funds as well as those that track indexes.

While the sector has been in a slump, advisors who go beyond the recent returns can show clients how these funds have bested the S&P 500 over time.

The low-cost, passive trend may be accelerated because of new fiduciary rules issued by the Department of Labor.

Blackstone will shutter a mutual fund that allocates money to hedge fund managers following a large redemption by the vehicle’s main backer, Fidelity.