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Money Management Executive

Cohen’s Firm Will Stop Paying Bonuses for Best Investment Ideas

– Steven A. Cohen’s new firm will stop collecting employees’ best trading ideas for a central investment pool and rewarding them with a special bonus, a practice that the U.S. government said created wrong incentives at his former hedge fund SAC Capital Advisors LP.

Product Launch Highlights

– Among recent notable product launches is an ETF aimed at accessing China's onshore bond market, a new index that will track publicly-listed companies developing or providing cyber security technology, and a fund aiming to outperform an index composed of futures contracts on 14 heavily traded commodities.

Adapting to Technology to Improve Practices

– Greg Davies, head of behavioral finance at Barclays reviews how technology has fit within the industry and the opportunities and challenges that development has brought.

Manage Automation to Achieve Better Oversight

– There are no jurisdictional walls when it comes to the damaging effects of net asset value errors. This realization and the global collaboration taking place to address it are creating the new, global standard for "best practice" with or without the existence of domestic or foreign regulatory policy.

Online Threats Drive Cyber Insurance Need

– As the pace of cyberattacks increases, asset managers are taking a hard look at their cyber insurance coverage to make sure that it will cover them should they become a target.

BlackRock, Precidian Pull Applications for Non-Transparent ETFs

– BlackRock Inc. and Precidian Investments pulled applications for a new type of exchange- traded fund that wouldn’t disclose holdings daily, after regulators said they planned to reject them.

Industry Ponders: Google Asset Management?

– The likelihood that a powerful tech innovator such as Google will enter the asset management space and upend the market has increasingly become a matter of concern and speculation within the financial industry.

Pimco's Loss Turns Out to Be Legg Mason's Gain

– Legg Mason attracted $5.1 billion into its bond funds in October, the most in more than seven years, after the departure of Bill Gross from Pimco prompted investors to reallocate billions of dollars.

The Impact of the Aifmd on U.S. Asset Managers

– Many non-EU fund managers still view the impacts of the Alternative Investment Fund Managers Directive on their business with suspicion.

Janus Funds Attracts More Than $1 Billion as Gross Joined

– Janus Capital Group saw more than $1 billion of estimated net deposits into two bond mutual funds in October after hiring star bond manager Bill Gross.

Industry Evolution Challenges Managers

– Changes in the industry confront asset managers on several fronts. Michael Rawson, an analyst covering passive strategies on Morningstar's manager research team, shares his expectations on the outcomes these industry shifts will bring.

As Pimco Struggles, BlackRock Nets Billions

– In the wake of Bill Gross's abrupt departure from Pimco, fund competitor BlackRock's promotion of its scale, distribution and product performance has helped it capture more business.

Fund Supermarkets Rising, But Cost an Issue

– The rise of fund supermarkets poses a tough balancing act for asset managers.

Liquid Alternative Funds: Marriage of Old and New

– While the industry has long been talking about the convergence of alternatives and mutual funds, the growth of liquid alternatives did not pick up steam until the past few years.

How to Prioritize Adding Value, Minimizing Risk

– As clients have become better informed and sophisticated, so too has the asset management industry, with more demanding gatekeepers, a flood of products, competition and tougher regulation forcing firms to demonstrate value and innovate, industry heads say.