Investors poured more money into bond mutual funds last week than they have since May, before former Federal Reserve Chairman Ben S. Bernanke first signaled the central bank would reduce asset purchases.
Fidelity Investments’ John Carlson and DoubleLine Capital LP’s Luz Padilla pursue different strategies in their emerging-market debt funds. One thing they have in common is buying bonds denominated in U.S. dollars.
BlackRock Inc. Chief Executive Officer Laurence D. Fink, whose firm oversees $4.3 trillion in assets, said the recent market decline is a temporary setback as opposed to a departure from current economic growth.
Ronald P. O’Hanley, Fidelity Investments’ head of asset management, is stepping down after less than four years in the role, giving President Abigail Johnson an opportunity to consolidate control of the family- owned firm.
Bank of New York Mellon Corp. said fourth-quarter profit unexpectedly fell 18 percent as revenue missed analysts’ estimates and the world’s largest custody bank wrote down its investment in ConvergEx Group LLC, a brokerage that last month admitted to defrauding customers of millions of dollars.