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SEC’s tapping of longtime portfolio manager to ride herd on mutual funds bodes well for industry, observers say; fate of 12(b)-1? The Securities and Exchange Commission’s appointment of Eileen Rominger, an 11-year veteran of Goldman Sachs Asset Management, as its new director of investment management, marks the first time in decades — if ever — [...]
Nimble investors could jump on some attractive acquisition candidates ahead of the unfolding 2011 takeover wave, according to the latest research from Morningstar Inc. After studying the “inklings of [an M&A] revival in 2010,” Morningstar deputy director of research R.J. Hottovy said deals in the year ahead will be larger and more plentiful than in [...]
Boss of asset management group rubbishes notion that Middle Kingdom’s white-hot growth will hurt other countries n the face of vitriolic comments by congressional leaders about hiking tariffs on Chinese imports, Goldman Sachs Asset Management’s chairman believes that global economies will continue to grow in coming years. And much of that growth, he says, will [...]
Inflows into firm’s low-fee fund have surged; ‘pricing war going on’ Vanguard Emerging Market ETF became the third-largest U.S. exchange-traded fund this week, surpassing a rival BlackRock Inc. fund that just a year ago was twice as big, and adding to evidence that investors are migrating to the cheapest offerings. The Vanguard fund had $46.2 [...]
Taps firm’s asset management operations around the world Franklin Templeton Investments has expanded the adage “all politics are local” to international investing. The Franklin World Perspectives Fund, launched Dec. 16, has raised the stakes on the idea of a globally managed mutual fund for U.S. investors. Following in the footsteps of an offshore version launched [...]
Nimble investors could jump on some attractive acquisition candidates ahead of the unfolding 2011 takeover wave, according to the latest research from Morningstar Inc. After studying the “inklings of [an M&A] revival in 2010,” Morningstar deputy director of research R.J. Hottovy said deals in the year ahead will be larger and more plentiful than in [...]
America could learn a lot from other countries — if only we paid attention America is a great nation, in part because we have always believed in better tomorrows. Look at the source of many of the ideas, products and methods that have made things better, faster, cheaper, more useful and more fun over the [...]
The cost of luring new brokers has increased, CEO notes LPL Investment Holdings Inc. will look to recruit at least 400 net new registered reps and investment advisers this year and into the future, while top executives at the firm acknowledge that attracting top brokers is getting more expensive. The cost of bringing independent contractor [...]
Agency’s much-anticipated report offers up three options for regulating industry: added fees, a new SRO, or Finra Establishing a self-regulatory organization for investment advisers is one of three options the Securities and Exchange Commission offered to Congress as a way to strengthen oversight of financial advice. In a report sent Wednesday night to House and [...]
Agency’s much-anticipated report on adviser oversight fails to offer single approach; controversy ahead In the Dodd-Frank financial reform law, Congress asked the Securities and Exchange Commission to assess how it could strengthen regulation of financial advice. The answer the agency gave in a report delivered to Capitol Hill Wednesday night will likely stoke the debate [...]