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Viewing stories published on November, 1, 2017. Click here to view latest.

PwC: Technology, fee pressures to revamp asset management industry in 10 years

MONEY MANAGEMENT -

MONEY MANAGEMENT -

The global asset management industry will be substantially overhauled over the next 10 years, a new PwC report predicts.
Diversity becoming more important to asset owners, new research shows

GOVERNANCE -

GOVERNANCE -

Diversity is moving up asset owners' agendas, with the issue beginning to influence how they select managers and structure their boards.
Glendon Capital closes second credit and special situations fund at $2.5 billion

Alternatives -

Alternatives -

Glendon Capital Management closed its second credit and special situations fund, Glendon Opportunities Fund II, at $2.5 billion.
Millennium Management agrees to $639,000 settlement on illegal short-selling charges

Regulation -

Regulation -

Millennium Management agreed to pay $639,000 to settle charges of illegal short selling ahead of stock offerings.

MONEY MANAGEMENT -

MONEY MANAGEMENT -

Chi Kit Chai joined Hong Kong-based Ping An Overseas Holdings as head of capital markets and a member of the firm's executive committee.
Connecticut governor signs budget that keeps pension costs unchanged

Legislation -

Legislation -

Connecticut governor signs budget that includes required pension contributions without shifting teacher pension costs to municipalities.
SEC nominees approved, making commission full for first time since 2015

Washington -

Washington -

Hester Peirce and Robert J. Jackson Jr. were confirmed Wednesday to serve on the SEC, bringing the commission to its full complement.
Crestline Opportunity Fund III closes

ALTERNATIVES -

ALTERNATIVES -

Crestline Investors closed its latest credit fund, Crestline Opportunity Fund III and related managed accounts, with a combined $1.34 billion.
PFM to acquire stable value manager Fiduciary Capital Management

Defined Contribution -

Defined Contribution -

PFM will acquire institutional stable value manager Fiduciary Capital Management.
Fed keeps rates unchanged at least until December; inflation remains soft

Washington -

Washington -

A unanimous Federal Open Market Committee decided not to raise the federal funds rate on Wednesday.
Permira-backed company to buy Duff & Phelps for $1.75 billion

Private Equity -

Private Equity -

Private equity firm Permira, through a portfolio company backed by its funds, has agreed to buy Duff & Phelps for $1.75 billion.
Apollo's AUM gains 4.2% in quarter, 28% for year on strong inflows

Alternatives -

Alternatives -

Apollo Global Management's assets under management were $241.6 billion as of Sept. 30, up 4.2% from June 30 and an 28% increase from a year earlier.
Senate Democrats propose protecting and expanding 401(k) savings

Washington -

Washington -

Senate Democrats unveiled their plan for tax reform late Tuesday that calls for raising limits for 401(k) contributions.

MONEY MANAGEMENT -

MONEY MANAGEMENT -

Leon Douch was named head of insurance and Jason Allan was hired as director, institutional business development at Allianz Global Investors.

CONSULTANTS -

CONSULTANTS -

Janet Li, Hong Kong-based director of investments for Greater China with Willis Towers Watson, has left the firm.