Index funds became popular over the last four decades because they’re simple, conservative and low cost. A different kind of exchange-traded fund is drawing record cash by promoting better returns with the same stocks.
Asian stocks rose a second day after comments from Russian President Vladimir Putin signaled the Ukraine crisis won’t immediately escalate. China shares slid amid concern the country is facing its first onshore corporate bond default.
GAM Holding AG, the Swiss money manager that split from Julius Baer Group Ltd., reported a more than doubling in full-year profit, proposed a higher dividend and said it’s planning a new share buyback program.
Julius Baer Group Ltd. Chief Executive Officer Boris Collardi said he aims to reach a settlement this year with the U.S. Department of Justice amid a probe into Swiss banks helping Americans evade taxes.
Credit Suisse Group AG Chief Executive Officer Brady Dougan will testify this week at a U.S. Senate committee’s hearing on offshore tax evasion, increasing pressure on the largest of 14 Swiss banks under criminal investigation for helping Americans cheat on taxes.