Investors withdrew an estimated US$23.5 billion from the Pacific Investment Management Company Total Return Fund in September.
Investor interest over the next five years will gradually shift back towards active strategies.
The departure of Bill Gross from Pacific Investment Management Company (PIMCO) had both positive and negative ripple effects.
Investment management fees are often structured in ways that reward asset managers in good times but spare them pain when they underperform, say many Canadian DB pension fund managers and investment consultants. They also argue that, although some fees for institutional investors have declined, they remain too high in general—and don’t always reflect great manager skill.
Pier 21 Asset Management has launched Parade Street Investments.
Gluskin Sheff + Associates Inc. has completed its acquisition of Blair Franklin Asset Management Holdings.
Forty-one percent of large cap managers beat the S&P/TSX Composite Index in the second quarter, a 10 percentage point increase from the first quarter, according to a Russell Investments report.
Institutionally oriented managers are boosting revenue at a faster rate in the retail market than their retail-oriented counterparts as investors and their advisors shift focus to non-traditional investment strategies, according to a Casey, Quirk & Associates report.
Legg Mason has agreed to acquire Martin Currie, an active international equity specialist based in the United Kingdom.
The global asset management industry has recorded its strongest year of recovery since the financial crisis.