Investment manager Pimco has been fined nearly $20m (£15.9m, €18.9m) by the US Securities and Exchange Commission (SEC) for misleading investors about the performance of its actively managed Total Return ETF.
Ever get the feeling you’ve been cheated? As I write, the masses are rebelling against a momentous decision that has thrown the free world off its axis… and that’s just the changing shape of the Toblerone.
Zurich has named the chief executive of its newly amalgamated division and announced a senior departure. HSBC Private Bank’s US investment services and products solutions business has a new head, while Pimco has appointed a head of Hong Kong retail and a head of China.
PIMCO has launched the PIMCO Global Investor Series US Investment Grade Corporate Bond Fund.
A senior management shift has seen Pimco poach its new chief executive from Man Group. Brewin Dolphin has named two divisional directors, while T. Rowe Price has created a new head of strategic partners role.
Aviva Investors has named a new chief executive for its French operation, while Axa Investment Managers has boosted its responsible investment team. Overseas Trust and Pension has appointed a managing director, with Pimco adding an emerging markets strategist and a portfolio manager.
Legal & General has named a Whitehall veteran as group chairman, while Axa has announced a series of senior level changes. Schroders has promoted from within to fill its head of multi-asset investment role.
Financial markets have undergone substantial changes as a result of regulatory shifts, but according to Pimco’s global head of portfolio risk management, William de Leon, much of the volatility currently in evidence has more to do with central-bank induced uncertainty than illiquidity.
Low, zero or even negative rates do not bring about the rebounds in growth and inflation that neo-Keynesian models predict, said Pimco’s Scott Mather.
Regionally focused small and mid-cap equity funds have filled a gap in the armour of RL360° following its recent annual review of four of its main investment vehicles.
We’re now in the second month of the year and corporate musical chairs doesn’t appear to be slowing. In fact, opening International Adviser’s mailbox each morning to a slew of appointments, promotions, and departures is beginning to feel a bit like Groundhog Day.
Mark Richards has joined JP Morgan Asset Management (JPMAM) as a strategist in the global multi-asset solutions group.
