A few weeks ago, The Vanguard Group Inc.'s chief executive, William McNabb, received an e-mail from one of his sales representatives that a longtime client wanted to have lunch with him.
Wellington Management Co. LLP issued a statement Friday saying it had been told it isn't a target in the current insider trading probe, despite having received a subpoena last week as part of the investigation.
The Vanguard Group Inc. is looking to expand its non-U.S. exchange-traded-fund business in the next five years. Specifically, the firm intends to enter Hong Kong and Canada next year, said F. William McNabb II, president and CEO.
Obervers say the advisory industry is spooked by the probes of Diamondback Capital and Level Global Investors. But the bigger concern may be the subpoena of Wellington Management, which is a subadviser to marquee firms like Vanguard, The Hartford, and John Hancock.
News of a federal investigation reportedly probing mutual fund companies, broker-dealers and consultants — as well as investment banks and hedge funds — could cause investors to dump equities, according to industry observers and financial advisers.
Invesco Ltd. is poised to challenge BlackRock Inc. for the position of world's biggest asset manager, according to Don Putnam, managing partner of Grail Partners LLC.
Senior adviser to Mary Schapiro touted as next head of the Division of Investment Management
Financial advisers are using last week's unexpected spike in interest rates to persuade clients that it's time to get out of long-term bonds and back into equities.
American Funds, long-known as an equity player, is trying to reposition itself as a more diversified asset manager with a string of funds set to launch in the next few months
Lee Kranefuss talks about the early days of bringing exchange-traded funds to the masses
