The shift to passive has caused much soul searching, not to mention cost cutting, at some of the world's biggest money managers.
Net income also dropped to $319 million, or 79 cents a share, from $373 million, or 89 cents, a year earlier, the firm reports.
Investors paid 61 cents for every $100 managed in 2015, down from 64 cents in 2014 and and 73 cents five years ago.
Smart-beta styles underlie about one in five ETFs globally with an estimated $400 billion under management, and if they plunged, millions of investors would be burned.
Fidelity neednt settle for another me-too lineup of smart beta ETFs.
While IT budgets at buy-side firms have not fully recovered from the cutbacks of the Great Recession, front-office demands keep growing in quantity, complexity and required speed of response.
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
Mutual fund families have traditionally left the topic of how to allocate certain fund expenses to management and fund officers.
Rob Goldman founded Goldman Small Cap Research (GSCR)--not affiliated with Goldman Sachs--in 2009. He has over 20 years of investment and research experience as a senior research analyst and as a portfolio and mutual fund manager.
Innovation is a constant in any industry, but sometimes in the fund business its mark is not always obvious.