MD Financial Management Inc. (MD) has announced changes to the sub-advisory structure of several of its mutual funds, effective September 23, 2024. These changes involve the appointment of new investment sub-advisors for specific funds, while maintaining the existing investment objectives and risk ratings.
Results for: Investment Management
Franklin Resources, Inc. (BEN) reported preliminary assets under management (AUM) of $1.68 trillion as of August 31, 2024, reflecting a 1.1% increase from the previous month. While positive market performance contributed to the growth, long-term net outflows, including $7.7 billion from Western Asset Management, partially offset the gains. The report also highlights the performance of other asset managers, including Cohen & Steers, Inc. (CNS) and Invesco (IVZ).
Franklin Resources, Inc. (BEN) announced preliminary assets under management (AUM) of $1.66 trillion as of July 31, 2024, representing a 1% increase from the previous month. The growth was primarily attributed to positive market performance, partially offset by long-term net outflows. The company’s equity assets surged by 1.5% to $603.7 billion, while fixed income AUM climbed 1.2% to $571.3 billion. Franklin’s efforts to diversify its business through acquisitions, its strong AUM balance, and its robust distribution platform are anticipated to drive future revenue growth.
T. Rowe Price Group, Inc. (TROW) announced preliminary assets under management (AUM) of $1.59 trillion for July 2024, representing a 1.1% sequential increase. The rise was driven by positive market conditions and net inflows of $2 billion. While the company’s diversified business model and expansion efforts are positive, concerns remain regarding its reliance on investment advisory fees and high costs impacting bottom-line growth.
Peter Harrison, the long-standing CEO of FTSE 100 investment giant Schroders, is set to retire next year after more than eight years at the helm. The company has initiated a comprehensive search for his successor, aiming to ensure a smooth transition with Mr. Harrison’s assistance. With £750 billion in assets under management, Schroders has retained executive search experts to facilitate the selection of a new leader.