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Related Special Reports
...The move is an edict from Andy Sieg, who runs Citi’s wealth management division and joined the company last year from Bank of America....
...Whenever there’s a study that dunks on active portfolio management, we’ll be here to cut and paste. Today’s active management dunk comes from Morningstar....
...Private equity firms are increasingly raising money to buy individual companies on a deal-by-deal basis, as they struggle with a downturn in the market and investors look for ways to cut management fees....
...More than half of BlackRock’s $10tn in assets under management are retirement savings, including institutional pension funds, corporate defined contribution plans known as 401(k)s and individual accounts...
...“Managing directors” who are not directors of any company and don’t manage anything. “Vice-presidents” who carry bags and take minutes. “Executive directors” who are mid-level bureaucrats....
...BNP Paribas Asset Management launched its first active ETFs in Europe in February....
...were put on some form of performance management plan or facing dismissal....
...Boeing, another company in which financial engineering has replaced the real kind, is a timely case in point....
...Last month, the company co-hosted a power grid investment summit in Houston with Dan Patrick, Texas’s lieutenant-governor....
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...“Much of the friction of understanding bitcoin and doing the work on bitcoin asset managers was done in 2021,” reckons Steve Kurz, global head of asset management at Galaxy, referring to the private bitcoin...
...The first is a standalone public company — albeit with a lot of other businesses bolted on — while the latter two are part of broader listed companies, S&P Global and LSEG respectively....
...The company raised $713mn....
...Smith’s style is to invest in a small number of “high quality, resilient, global growth companies”, primarily in the US, that he aims to hold for the long term....
...So perhaps his TMTG management team is chock full of world-class fundraisers....
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...As companies tackle digital overhauls of their businesses — from homeworking to customer relationship management — they are increasingly relying on external providers for information technology services...
...Signa Holding, the central company, recently filed for administration....
...US money market funds have a record $5.9tn in assets, according to the Investment Company Institute. As rates come down, much of that is expected to move into riskier investments....
...private capital, an industry started decades ago by small teams of mercenary dealmakers, was entering a phase of consolidation in which size, resources and the ability to win access to the world’s largest companies...
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...Just last month it said it would buy US-based power chip company Transphorm for $339mn. Getting the most out of those buys could stretch any management team....
...Iger has also drawn endorsements from heirs of company founders Roy and Walt Disney in recent weeks....
...This has enabled the company to shake up the asset management industry by reinvesting profits into lowering the fees charged to investors and putting pressure on rivals to do the same....
...In a few days, it lost JPMorgan Asset Management, State Street and Pimco. BlackRock has moved its membership from the huge corporate entity to its much smaller international business....
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