Table of Contents

Issue Date: Monday, January 9, 2017

News

Record keepers gear up for advice role

REGULATION/LEGISLATION

REGULATION/LEGISLATION

Several large record keepers are expanding their fiduciary duties by providing more advice to defined contribution clients in response to the Department of Labor's conflict-of-interest rule that is...
Alternatives firms get gobbled up

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Alternative investment consultants are being snapped up by general investment consultants, a growing trend that some fear could result in increasing conflicts of interest and an insufficient number...
Major deal makes the difference

MONEY MANAGEMENT

MONEY MANAGEMENT

Merger and acquisition deal value in the global money management industry totaled $25.5 billion in 2016, up 18% from 2015, boosted by Amundi Group's $3.74 billion purchase of Pioneer Investments.
Raft of unknowns make Fed direction tough to predict

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Fed watchers trying to predict when and where interest rates will go in 2017 will have plenty of challenges, including a new president with an ambitious agenda.
Pension funds weigh their options on clearing

REGULATION/LEGISLATION

REGULATION/LEGISLATION

European pension funds might find it more economical to begin clearing their derivatives trades through central counterparties sooner rather than later, due to incoming bilateral rules.
ESG factors making gains in fixed-income portfolios

MONEY MANAGEMENT

MONEY MANAGEMENT

The integration of environmental, social and governance factors into fixed-income portfolios is gaining traction with money managers across the globe.
Traditional managers snapping up stakes in alternatives firms

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Traditional money managers are stepping up the pace when it comes to buying stakes in alternative investment firms, particularly private equity and real estate managers.
Big players pan modifications to  DOL's Form 5500

REGULATION/LEGISLATION

REGULATION/LEGISLATION

The reviews are in for the Department of Labor's proposed changes to the Form 5500 annual report — and they're not raves.
Investors quick to cut managers not performing

MONEY MANAGEMENT

MONEY MANAGEMENT

The numbers are in: 2016 was a bad year for poor hedge fund performers as institutional investors expressed dissatisfaction by redeeming and redeploying assets with other managers.
Ares adds to credit assets with acquisition of BDC

MONEY MANAGEMENT

MONEY MANAGEMENT

Ares Management's business development company closes a deal to buy troubled BDC American Capital, adding $3 billion to Ares' U.S. credit unit's assets under management.
Maker-taker rebate pilot could die before it starts

REGULATION/LEGISLATION

REGULATION/LEGISLATION

An SEC pilot program that would measure the effects of maker-taker rebates on equity trade execution could be in jeopardy because of uncertainty over who will lead the agency — and how he will...
Fisher hoping hybrid approach will lure more institutional fans

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Fisher Investments isn't typically the first choice among institutional investors, but founder Kenneth Fisher says there still are plenty of opportunities — even as a runner-up.
Firms boost focus on infrastructure administration

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Fund administrators are expanding into infrastructure as asset owners move more money into the asset class.

MONEY MANAGEMENT

MONEY MANAGEMENT

Active management goes against the grain for exchange-traded funds (and fund flows in general), which have favored indexed strategies.
Business development companies the norm for credit managers now

MONEY MANAGEMENT

MONEY MANAGEMENT

Business development companies have become an integral part of most credit managers' capital war chest, giving investors a choice between liquid and illiquid investments.

Special Report

Amundi Group's purchase of Pioneer Investments caps off what was otherwise a quiet year for M&A activity.

Frontlines

Editorial

SEC must stay on focus

REGULATION/LEGISLATION

REGULATION/LEGISLATION

With his nomination of Jay Clayton as chairman of the Securities and Exchange Commission, President-elect Donald Trump must ensure he is living up to his populist-inspired ideals in naming a new...

DEFINED BENEFIT

DEFINED BENEFIT

Dallas risks becoming the new Detroit or Puerto Rico from its exposure to unfunded pension liabilities.

Other Views

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Stocks continued to rise in 2016, but challenges remain for individual investors looking to save enough for retirement.

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

Depending on spending and investment decisions over time, retirement plan participants can reduce living-standard risk based on a lifecycle planning framework.

Between the Lines