Franklin Resources, manager of the Franklin and Templeton mutual funds, said fiscal first-quarter profit fell 6.2% as investors pulled money from the firms best-known global bond funds.
Invesco said fourth-quarter profit rose 5.6% as client assets increased.
The bond market's main concern is the ballooning ETF industry and how it has shaken up the traditional way to buy and sell debt.
Buy an index fund and let the bull market guide you to a 44% gain. Most money managers who actually pick stocks couldn't match the Standard & Poors 500 Index, let alone beat it. Thanks to three weeks of volatility, thats beginning to change.
Deborah Fuhr, a veteran ETF industry observer, says the explosive growth of ETFs is vindication for a product once dismissed by some investment professionals. In a discussion with Money Management Executive, Fuhr outlines factors that have led to the market's enthusiastic acceptance of 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.