Scotiabank has agreed to purchase the remaining 40% of Aurion Capital Management shares that were owned by Aurion Capital employees for an undisclosed amount.
After a strong year for active managers in 2013, 31% of large cap managers were able to beat the S&P/TSX Composite Index in the first quarter of 2014, down from 86% in the previous quarter.
Pier 21 Asset Management has entered into an exclusive sub-advisory relationship with global equity specialist Taube Hodson Stonex Partners.
Diversified pooled fund managers outperformed the benchmark, on average, in the first quarter of the year.
CIBC and two groups of private equity firms are considering making an offer for Russell Investments, according to a report.
Investor confidence in global economic growth remains high even as expectations of higher short-term rates increase, according to the BofA Merrill Lynch Fund Manager Survey for April.
TIAA-CREF has agreed to purchase Nuveen Investments for US$6.25 billion ($6.85 billion) from private equity firm Madison Dearborn Partners.
Investment managers expect further growth in the U.S. economy and do not expect that problems in emerging markets will spread to developed markets, according to a quarterly survey conducted by Northern Trust.
Surging equity markets in 2013 yielded the strongest median revenue growth last year since 2010 at 52 publicly traded asset management firms worldwide, according to analysis by Casey, Quirk & Associates.
BlackRock is making changes to its senior management team, according to an internal memo.