Michael Fiala/ReutersFranklin Resources and Legg Mason's $4.5 billion merger is the latest, and biggest, consolidation in the increasingly competitive active asset management space.
"We believed both firms were likely to be acquirers of smaller asset managers as opposed to either one being an acquisition target," Greggory Warren, an analyst at Morningstar, said in a report. Discussions have not gone very far because of the price requested by Great-West, which paid $3.9 billion for the asset manager in 2007.
The investment firm Waddell & Reed, with the asset manager Ivy Investments under its umbrella, reported $10 billion in net outflows in 2019 across all of its funds and $1 billion in overall revenue. Waddell is also trying to convey itself as an agile firm as the broader active asset management industry undergoes sweeping changes.a new chief investment officer, Daniel Hanson, as the company "furthers transformation." It noted that Hanson has a focus in ESG investing.
Russell Investments chief executive Michelle Seitz told Business Insider last October, just as competing brokerages all eliminated trading commissions, that she was wary of what some of the knock-on effects of no-commission trades might be for longterm investors.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Next stock market crash: Bubble in tech, value to burst, JPMorgan says - Business Insider'This bubble will likely collapse': JPMorgan sounds the alarm on a hugely popular trade that's twice as overstretched as it was before the dot-com crash In the time that I've been 'in the market' as an every day American investor, I have seen bubbles build & pop. Lost a few 100g's in the tech🎈& learned the hard way. Bubbles will build again! Bubbles will blow again! Lil ole can tell u, the pin is about to meet the rubber. BOOM! CLICK BAIT POST Nice paywall. I won’t subscribe to anything now that anonymous micro payments are possible using crypto currency. Get caught up on technology BI and open the door to a whole new readership.
Source: BusinessInsider - 🏆 729. / 51 Read more »
SUCESS INSIDER: McKinsey, Hilton, freelance web design, depression - Business InsiderSUCCESS INSIDER: Read the email templates a freelance web designer has used to get customer referrals and make a $200,000 salary
Source: BusinessInsider - 🏆 729. / 51 Read more »
Etihad A320 business class review Maldives to Abu Dhabi: food, seat - Business InsiderBefore getting to fly on Etihad's luxurious double-decker A380, I flew to the airline's Abu Dhabi hub on one of its regional narrow-body planes.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Pier 1's bankruptcy filing may hold a silver lining for the struggling home-goods retailer - Business Insider'There's something there that's worthwhile to continue operating or get sold,' bankruptcy attorney Sid Scheinberg told Business Insider.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Global stocks tank as investors brace for a coronavirus pandemic - Business InsiderThe flu-like illness has now killed people in Italy, Iran, and South Korea, fanning fears it will hinder the global economy.
Source: BusinessInsider - 🏆 729. / 51 Read more »