Vanguard Group Inc., the third- biggest provider of exchange-traded funds, gained ground on larger competitors this year after gathering more than seven times as much money into its ETFs than the rest of the U.S. industry combined.
Pacific Investment Management Co., the envy of the bond world when it tripled assets following the financial crisis, is finding itself in an unusual role: Playing catch up to competitors in the growing market for exchange- traded funds.
Devan Kaloo led Aberdeen Emerging Markets Fund to top risk-adjusted returns by picking the best stocks in the most volatile industries, beating peers from Fidelity Investments to Franklin Resources Inc.’s Mark Mobius.
CenturyTel Inc., the Louisiana phone company that’s expanding across the U.S., plans to buy Qwest Communications International Inc. for about $10 billion, more than doubling its customers in its largest purchase yet.
The cost of betting on swings in an exchange-traded fund tracking Treasuries fell to the lowest level since 2010 on speculation volatility will diminish as the Federal Reserve delays plans to taper stimulus.
ClearBridge Investments’ Richard Freeman followed drug company Alza Corp. for 28 years before buying shares in 1999, when a failed acquisition by a larger company sent shares plunging. Two years later, Johnson & Johnson bought Alza for triple the price the fund paid.
AT&T Inc. Chairman and Chief Executive Officer Randall Stephenson is facing the toughest regulatory challenge of his career as U.S. officials put his $39 billion gamble on T-Mobile USA Inc. in jeopardy.
Pacific Investment Management Co., the bond manager that started expanding into stocks four years ago, hired Virginie Maisonneuve from Schroders Plc to lead the push after Neel Kashkari left in January.