Blackstone, the nation’s largest provider of alternative investments, has quietly established a major presence in the financial advisor space by working with private banks, wirehouses, RIAs and independent brokerage firms. Executives at the firm now estimate that 15 to 20 percent or more of assets flowing into the firm’s various alternative platforms are coming through these sources.
Investors are warming to passive fixed income products, but that may be a mistake, according to one of the world’s largest asset managers.
According to “Active Advantage,” a report from Newark, N.J.-based PGIM Investments, there are now more than $3.8 trillion in fixed income mutual funds and ETFs, with actively managed assets making up the majority. Yet PGIM also notes that most assets are flowing into passively managed strategies, even within fixed income.
In the financial industry’s battle of humans versus machines, billionaire bond fund manager Jeffrey Gundlach is betting people will prevail.
“I don’t believe in machines taking over finance at all,” Gundlach, chief executive officer of DoubleLine Capital, said Thursday night in a cocktail-hour interview before his induction into the Fixed Income Analysts Society Inc.’s Hall of Fame.
Equity markets might appear unflappable as domestic politics become more turbulent, but advisors are sensing rising tension among their clients.
Advisors are reporting that domestic politics are now causing more sleepless nights for their clients than international politics, according to a recent poll of 218 financial advisors by Hartford Funds, even as domestic equity indexes continue to post new record highs amid low volatility.
“The anxiety levels advisors saw from their clients regarding markets in 2008 and 2009 may exist around politics today,” says John Diehl. “These anxieties are not yet making their way into investment implications.
A Miami man accused of flooding consumers with 96 million phone calls touting fake travel deals faces a record proposed $120 million fine from federal regulators, who said he operated the worst robocall spoofing effort they had seen.
Adrian Abramovich tried to trick consumers into answering and listening to his advertising messages, the Federal Communications Commission said in a news release Thursday. The pace of calls works out to an average of more than 1 million per day.
“The FCC is taking major, unprecedented action against what appears to be the most egregious neighbor-spoofing robocalling scheme that we have ever seen,” said FCC Chairman Ajit Pai.