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Wells Fargo said on Wednesday it agreed to acquire about $34 billion in assets under management from embattled independent money manager Strong Financial for an undisclosed price.
He began putting together Alerian in July 2004 and trading MLPs with $5 million under management from Hans Utsch, a portfolio manager at Federated Investors, whom Hammond had met at a luncheon.
By the age of 32 she was managing director of an ailing part of Morgan Grenfell, and took its assets under management from £4bn to £22bn.
Hostplus, another industry fund, has also seen large inflows of members and funds under management from the big four banks, AMP and IOOF.
International banks continue to hold pole position in terms of assets under management from high-net-worth clients in the region.
It has catalyzed a shift of more than $4.3 trillion in assets under management from fossil fuels to new-economy solutions.
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Fund vendors get their fees from assets under management — and from the performance of the funds they run.
DHIL is a value-based asset manager that has grown its assets under management (AUM) from just $107 million at the end of 2002 to more than $7 billion today.
She helped develop the standards for B Corporations, and has coordinated global research across 15 universities using data from $4.5 billion of impact assets under management and from over 11,000 impact entrepreneurs in 29 countries.
Richards, who joined in June from Aberdeen Asset Management, said a tenth of M&G's £255.4bn assets under management were from EU clients.
Hedge funds are expected to end the year with about $1.3 trillion in client assets under management, down from a peak of $2.5 trillion last summer, according to a recent study from Barclays Capital.
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