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Jul 26, 2012

Big asset managers miss Wall Streey views as investors flee

By Ross Kerber and Aaron Pressman

(Reuters) – Four of the largest U.S. money managers reported sharp declines in second-quarter earnings on Thursday, as volatile markets and fleeing customers cut into their fee income.

The decline was steepest at Denver-based Janus Capital Group Inc, which remains mired in a multiyear trend of lagging fund performance and customer withdrawals. The company’s shares lost 2.6 percent on the New York Stock Exchange.

Jul 26, 2012

Two big asset managers miss Wall Street views as investors flee

By Ross Kerber and Aaron Pressman

(Reuters) – A pair of big asset managers missed Wall Street’s second-quarter profit expectations on Thursday as customers pulled out cash amid volatile markets.

Both Janus Capital Group Inc (JNS.N: Quote, Profile, Research, Stock Buzz) and Invesco Ltd (IVZ.N: Quote, Profile, Research, Stock Buzz) reported net outflows from their funds for the quarter, which dragged their earnings slightly below analysts’ expectations.

Jun 23, 2012

Analysis: Wave of departures raises BlackRock questions

BOSTON/NEW YORK (Reuters) – A series of high-level departures from BlackRock this month has raised questions about the direction of the world’s largest money manager.

Coming in rapid succession over the past two weeks, the departures included Susan Wagner, a founding partner and vice chairman, who will retire at the end of June, and Robert Capaldi, who has already left and was senior client strategist for Chief Executive Laurence Fink.

Jun 23, 2012

Wave of departures raises BlackRock questions

BOSTON/NEW YORK, June 22 (Reuters) – A series of high-level
departures from BlackRock this month has raised questions about
the direction of the world’s largest money manager.

Coming in rapid succession over the past two weeks, the
departures included Susan Wagner, a founding partner and vice
chairman, who will retire at the end of June, and Robert
Capaldi, who has already left and was senior client strategist
for Chief Executive Laurence Fink.[ID:nL2E8HM57O]

Jun 22, 2012

Vanguard’s Sauter to retire at year-end

NEW YORK, June 22 (Reuters) – Gus Sauter, the long-time
chief investment officer at Vanguard Group, the largest U.S.
mutual fund company, will retire at the end of the year, the
company said on Friday.

Sauter, 57, will be replaced by Tim Buckley, 43, a managing
director at Vanguard, based in Valley Forge, Pennsylvania.
Sauter currently directs Vanguard’s global investment management
groups, which oversee $1.6 trillion in aggregate assets.

Jun 1, 2012

Corrected: Dartmouth, Brown lead Ivies in investing with trustees

BOSTON (Reuters) – At Dartmouth College and Brown University, the old school tie might come with a silver lining.

Dartmouth and Brown – two of the eight Ivy League colleges and universities – lead the group in terms of investing their endowments with firms that have business ties to members of their boards of trustees, a review by Reuters of the Ivies’ investment practices found.

May 31, 2012

Dartmouth, Brown lead Ivies in investing with trustees

BOSTON (Reuters) – At Dartmouth College and Brown University, the old school tie might come with a silver lining.

Dartmouth and Brown – two of the eight Ivy League colleges and universities – lead the group in terms of investing their endowments with firms that have business ties to members of their boards of trustees, a review by Reuters of the Ivies’ investment practices found.

May 29, 2012

State reviewing Dartmouth conflict of interest claim

By Aaron Pressman

(Reuters) – The New Hampshire Attorney General’s office said on Tuesday it is reviewing allegations of mismanagement and conflicts of interest at Dartmouth College’s $3.4 billion endowment.

The Attorney General’s office received an anonymous letter in February alleging that Dartmouth’s endowment steered business to well-known investment firms like Apollo Global Management and Lone Pine Capital, which were owned by members of the Ivy League college’s board of trustees and investment committee.

May 23, 2012

Facebook exec ducks questions about IPO debacle

BOSTON (Reuters) – Facebook Chief Operating Officer Sheryl Sandberg spoke to Harvard University students in her first public appearance since the company’s disappointing initial public offering, but refrained from addressing the controversy around its messy, glitch-plagued debut.

Instead, Sandberg urged students graduating this week from Harvard’s business school to work for fast-growing companies, communicate honestly and address inequality in the workplace.

May 9, 2012

American Funds clamps down to improve bond fund

BOSTON, May 9 (Reuters) – American Funds succeeded for
decades with a simple strategy of dividing its giant funds among
multiple managers who each operated independently.

But the model broke down amid the recent financial crisis,
particularly on the fixed income side, prompting a major
overhaul and the beginning of a move away from fully independent
co-managers on the bond side.

    • About Aaron

      "Boston-based reporter covering investment management and investing. Previously worked at Businessweek in Boston and at The Industry Standard and Reuters in Washington, D.C."
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