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.
Invesco acquired Jemstep, a robo solution for advisors, for an undisclosed sum. It's the latest in a line of digital advice moves from asset management giants, which began in earnest last year.
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