Reflecting the global ambitions of Asian asset managers, South Korean-based Mirae Asset Management this summer quietly expanded its stateside presence, hiring four wholesalers across the country.
The worlds largest issuers of ETFs are holding talks with stock exchanges and market-makers to avoid a repeat of the issues that plagued ETFs during Aug. 24s market turmoil, according to five people with direct knowledge of the matter.
Only 10% of ETFs are in positive territory, after market selloffs in the U.S., Europe, and Asia, and a plunge in commodity prices.
CSOP Asset Management lowered the fee on its first U.S. exchange-traded fund tracking Chinese stocks and plans to start two ETFs after an equity rout wiped out $5 trillion in market value.
Angry customers have filed hundreds of arbitration claims with FINRA, seeking more than $1.1 billion in damages from UBS after huge losses in the tax-free bond funds. Three of UBS Puerto Rico's five offices have closed since 2010, and nearly 60 of the unit's 140 financial advisors have left.
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.