The acquisition enables Zurich-based GAM to introduce a computer-driven trading system focused on long-only and alternative strategies, the fund manager says.
The asset management industry's involvement in the digital advice space continues to deepen, as firms focus on providing institutional solutions for advisors.
Blackstone will shutter a mutual fund that allocates money to hedge fund managers following a large redemption by the vehicles main backer, Fidelity.
Fidelity suspended sales of MetLife's annuities as the life insurer weighs a possible sale, spinoff or public offering of a retail unit that provides the retirement products.
Legg Mason broadened its alternative investments capabilities and also made a deal to expand its ETF business.
Goldman Sachs Asset Management (GSAM) announced it has entered into an agreement with Deutsche Asset & Wealth Management (DeAWM) to acquire DeAWM's stable value business, with total assets under supervision of $21.6 billion as of June 30, 2013