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Governance

News

Fed’s Fischer Wants More Attention on Asset Managers

Fischer said regulators must be attuned to the growth and evolution of the asset management industry after funds “that track the returns of indexes of relatively illiquid assets have mushroomed in size.”

BlackRock Urges Stress Tests in FSOC Query of Asset Managers

BlackRock endorsed stress tests of mutual funds and reiterated its view that individual asset managers don’t pose a risk to the financial system.

'Shadow Bank' Claims Stir Debate at ICI Forum

The perceived threat of asset managers operating as a shadow banking system, thereby needing bank-like regulatory oversight from the Fed, produced the strongest commentary at the ICI forum, as key speakers spoke of pushing back against any attempt to entwine firms into further government oversight.

Industry Highlights and Trends

This week's notable news from the asset management industry includes a recent SEC roundtable meeting where some participants discussed the potential "unintended consequences" of universal proxy ballots, global ETP flows in February reached a record $50 billion, the fastest start to any year on record, and leadership at Vanguard were tasked with new roles within the firm.

ETF Manager F-Squared Said to Cut Staff After Settlement

F-Squared Investments, which last year admitted to misleading investors about its performance, has eliminated about 25% of its staff, according to a person with knowledge of the matter.

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Articles

State Street's Global CIO Talks Change

Last month, State Street Global Advisors revealed numerous changes meant to modify its core teams in the traditional asset space.

Executive Briefs

Broadridge Financial Solutions has agreed to acquire Bonaire Software Solutions, a provider of fee calculation, billing, and revenue and expense management solutions for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms.

SEC Chair Gets Some Advice

By now, the Securities and Exchange Commission's newly-minted Chair Mary Jo White must be inundated with advice on how to succeed at her job from sources near and far.

Executive Briefings

Franklin Resources has acquired the remaining 80% stake of alternative investments specialist Pelagos Capital Management.

2013 Tech Survey: Productivity On the Go

Thirty eight percent of fund firms across the country said that they will increase technology-related costs while a total of 17% of respondents said they expected no change in whether their firm's technology costs would rise or decline for the rest of 2013, according to the 2013 Money Management Executive Technology Survey.

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