Private equity firms have been increasingly adding another layer of debt to their complex borrowing arrangements, raising concern among some investors about potential risks to the wider industry and the financial system. Hit by a drought of deals and dwindling cash, some buyout firms are starting to resort to backroom financing to...
Investors overseeing $23.6 trillion of funds have kick-started a campaign to pressure 100 companies to ramp up the fight against biodiversity loss. Axa Investment Managers, Robeco, the Church Commissioners for England, Storebrand Asset Management and 186 other participants in the Nature Action 100 initiative have written to companies demanding “urgent...
UBS Group hired longtime trading executive Brian Williamson as it seeks to expand its U.S. execution hub, set up to help asset managers and hedge funds cut costs tied to running a trading desk. Williamson, who most recently was head of sales of the trading firm Luminex, joined UBS as...
European luxury stocks fell again on Tuesday as Morgan Stanley joined the chorus of analysts warning that demand for expensive handbags and jewelry in China and Europe is likely to slow. Shares in French luxury giant LVMH fell as much as 2.3%, extending their drop from the year’s high to...
Schwab Asset Management is making an aggressive attempt to offer some of the cheapest bond exchange-traded funds on the market. The asset manager announced Monday that it will cut fees on the $50 million Schwab High Yield Bond ETF (SCYB) and the $11.6 billion Schwab U.S. TIPS ETF (SCHP) to...
Half the states in the country suing the DOL won’t get the agency to budge on its new rule that allows retirement plan fiduciaries to consider ESG factors. Last Thursday, coincidentally during Climate Week NYC, U.S. District Court Judge Matthew Kacsmaryk granted summary judgment to the Department of Labor, finding...
Anxious Americans feel the need to choose — financially speaking, that is. According to a new survey by diversified financial services provider Thrivent, concerns about the economy and rising levels of personal debt have an increasing number of Americans feeling pressured to prioritize their financial needs. Most notably, Thrivent’s 2023...
If you’re in the middle of retirement planning, one of the risks you may want to consider is longevity. It’s a unique factor. It impacts everyone, it is impossible to forecast, and it changes over time with improvements in medical science. It’s also going to be a major topic covered...
The SEC ordered a subsidiary of Deutsche Bank to pay a $19 million penalty for not delivering to clients what it promised in its ESG mutual funds. In a Monday order, the Securities and Exchange Commission charged DWS Investment Management Americas Inc. with making misleading statements about incorporating environmental, social...
A group of financial advisors with $260 million in client assets and a specialty in retirement programs for schools, universities and hospitals, known as 403(b) plans, has jumped from Valic Financial Advisors Inc. to LPL Financial. The diverse practice is headquartered in Albuquerque, New Mexico, and led by financial advisor...