Vanguard Group plans to merge two institutional index funds into other Vanguard offerings with similar objectives, while adding an institutional share class to the surviving funds.
High-yield bonds have given stocks a run for investors' money this year, and a tepid U.S. economic recovery could keep institutional money flowing to that corner of the credit market, according to some market watchers.
Former AllianceBernstein CEO Lewis A. Sanders will launch a new firm as early as January, according to sources who declined to be identified.
Legg Mason today reported assets under management of $656.9 billion as of June 30, up 4% from the prior quarter but down 29% from the year before.
Morgan Stanley Investment Management raised more than $600 million from institutional and high-net-worth investors for its TALF strategy, spokeswoman Erica Platt confirmed.
Some well-known equity boutiques have begun offering bond strategies this year, diversifying their portfolios after the market collapse focused attention on the ability of money management companies to cope with severe downturns.
BlackRock is likely to announce an agreement to buy Barclays Global Investors from Barclays, creating the world’s biggest institutional money manager, according to sources who declined to be named.
Walter Donovan resigned Thursday from the top equity job at Fidelity Investments to take the same position at Putnam Investments, according to sources who declined to be identified.
Mercer and Callan Associates halted plans to merge their investment consulting businesses, according to a Callan news release.
