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Fidelity reorganization moves Pyramis out to pasture
trueThe formation of Fidelity Institutional Asset Management marks the end of the road for Fidelity Investments' long-struggling institutional business, Pyramis Global Advisors.
Money managers gearing up for solo flights in China
trueGlobal asset management firms are poised to enter China's market on their own terms for the first time, after 17 years of an enforced buddy system with local majority partners.
Fidelity establishes wholly owned foreign enterprise in China
trueFidelity Worldwide Investment announced it has established a wholly foreign-owned enterprise in Shanghai to “facilitate future expansion plans in the world's second-largest economy.”
Fidelity ditches Pyramis name, rebrands institutional distribution business
trueFidelity Investments consolidated a number of its divisions to create a new business for consultants and institutional investors, said spokesman Jeff Cathie.
Dell's acquisition of EMC will create company with $9.1 billion in retirement assets
trueThe acquisition of EMC Corp., Hopkinton, Mass., by Dell Inc., Round Rock, Texas, could create a single technology company with a combined $9.1 billion in retirement assets.
Vanguard moves past Fidelity in ranking of manager of DC mutual fund assets
trueVanguard overtook Fidelity to become the largest manager of defined contribution mutual fund assets, according to Pensions & Investments' latest survey.
401(k) decumulation may impact money managers
trueA reversal in the dynamics in the 401(k) market will have major ramifications for money managers in terms of hanging onto or gaining defined contribution assets.
Japan's Chikyoren taps 11 active global bond managers
trueJapan’s ¥21.1 trillion ($173 billion) Pension Fund Association for Local Government Officials hired 11 managers to run active global bond portfolios, said a spokesman for the Tokyo-based pension fund.
Departure at Fidelity Capital Markets stirs speculation
trueThe departure of Fidelity Capital Markets' head of transition management has spurred talk of what will happen at the firm, which had looked at expanding its transition management business to the defined benefit market from defined contribution plans.
Lattice Strategies names head of research and portfolio management
trueWilliam Hoyt was named managing director and head of research and portfolio management at investment strategy firm Lattice Strategies, spokesman Matthew Kirdahy said.
Fidelity Investments DCIO executive dies at age 54
trueFrederick Charles Conley, senior vice president of institutional DCIO sales at Fidelity Financial Advisor Solutions, died June 26. He was 54.
Learning from a walk through the fund graveyard
trueExchange-traded fund issuers and acolytes like to flaunt significant figures — nearly $3 trillion in assets under management globally, $2 trillion in the United States — but the industry is not exactly crowing about a recent milestone.
Appeal notice filed in Fidelity float income case
trueAttorneys for participants in several defined contribution plans filed a notice of appeal with the 1st U.S. Circuit Court of Appeals, Boston, to overturn a federal district court's dismissal of their suit against Fidelity Investments.
Morningstar: Target-date expenses continue falling
trueTarget-date fund expense ratios continued their steady decline, falling to 78 basis points in 2014 on an asset-weighted basis vs. 84 basis points in 2013, said the latest annual survey of target-date funds published Tuesday by Morningstar.
Fidelity float-income lawsuit dismissed
trueA U.S. District Court judge in Massachusetts has dismissed claims by participants of several defined contribution plans that Fidelity Investments, Boston, breached its fiduciary duties through its management of float income as the DC plans' record keeper.