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1 week ago | 
citywire.com | William Johnson |Ashley McConnell |Eva Thomas
Mercer is making significant changes to the $1.9bn Mercer Opportunistic Fixed Income fund (MOFIX).
According to a recent filing with the Securities and Exchange Commission (SEC), Mercer is removing BlackRock, Colchester Global Investors, Loomis, Sayles and Western Asset from the fund this month.
Ares, Crescent Capital Group and Polen have been picked to replace BlackRock and Colchester, effective April 15. Already have an account?
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1 week ago | 
citywire.com | William Johnson |Eva Thomas |Ashley McConnell
Rajiv Jain, the founder and CIO of GQG Partners, has dropped an additional $2.24m into GQG, bringing the total he’s pumped into the company since last month to nearly $4m.
Jain started slowly buying up shares of the firm he founded in 2016 on March 4, when he increased his number of Chess Depository Interests in GQG from 119,330 to 1.35 million by March 18. As of April 15, that number has increased to 3.12 million, regulatory filings show.
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1 week ago | 
citywire.com | William Johnson |Tania Mitra |Ashley McConnell |Eva Thomas
Hamilton Lane’s co-head of evergreen portfolio management, Steve Brennan, thinks that model portfolios will become a crucial part of alternatives adoption in the wealth channel.
Advisors have increasingly been utilizing model portfolios to outsource investment management decisions, and as asset managers continue to expand their alts capabilities for wealth investors, getting their products into the models will propel growth.
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1 week ago | 
citywire.com | William Johnson |Alec Rich |Ashley McConnell |Eva Thomas
Alternatives-focused software platform Luma Financial Technologies has raised $63m in a funding round led by investment firm Sixth Street Growth.
The capital raise marks the completion of Luma’s third tranche of funding, which Luma chief executive and president Tim Bonacci said is his firm’s largest to date. Along with Sixth Street, Luma’s existing investors include industry heavyweights like Morgan Stanley, Bank of America, UBS and TD Bank Group.
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1 week ago | 
citywire.com | William Johnson |Eva Thomas |Ashley McConnell
JP Morgan Asset Management will merge away its $2bn JPMorgan National Municipal fund (JITAX) into an ETF, according to a Wednesday filing with the Securities and Exchange Commission (SEC).
On July 25, JITAX will be merged into the $2.6bn JPMorgan Municipal ETF (JMUB). Michelle Hallam, Michael Myers and Rachel Betton serve as portfolio managers on JITAX and JMUB, and both funds focus on investing in municipal bonds.
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1 week ago | 
citywire.com | William Johnson |Ian Heath |Ashley McConnell |Tania Mitra
BlackRock has overhauled its Global Emerging Markets (GEM) division and split it into two distinct teams, Citywire has learned.
The changes include the recruitment of two senior investors in Asia and the repositioning of certain portfolio managers, team leaders and strategies.
The resulting structure will create an EM & Asia Core Team in Hong Kong and an EM & Frontiers Team based in London, with the division remaining under the overall leadership of emerging markets CIO Belinda Boa.
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1 week ago | 
citywire.com | William Johnson |Tania Mitra |Ashley McConnell
Former Pitcairn gatekeeper RJ Smolenski has landed at Second Mountain Partners as the firm’s chief operating officer.
In a LinkedIn post, Smolenski said:
‘Very pleased to announce that I have joined Second Mountain Partners, as Chief Operating Officer. Looking forward to growing the business, and great things ahead! Thanks to all that have helped me on this journey!’ Already have an account? Do you personally advise on or manage investments for clients?
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1 week ago | 
citywire.com | Eva Thomas |William Johnson |Ashley McConnell
Anthony Karaminas sees an emergence in systematic high-yield bond managers. And he wants to get to know them.
‘It’s a smaller universe relative to the traditional fundamental analysis, but there seems to be managers kind of popping up in that area. So, we’ve been chatting to a number of those,’ Karaminas told Citywire.
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1 week ago | 
citywire.com | Eva Thomas |Tania Mitra |Ashley McConnell
Matthews Asia’s new interim CEO, Mark Headley, is focused on re-building the firm after a troubling few years marred by high turnover and declining AUM.
Last week, the firm brought back Headley, Matthews’ co-founder, to lead the firm as executive chairman and interim CEO, replacing Cooper Abbott, who became CEO in 2022. Headley previously held both CEO/co-CEO (2002-2009) and CIO (2007-2009) roles at the company.
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1 week ago | 
citywire.com | Eva Thomas |William Johnson |Ashley McConnell
SEI will liquidate the subadvised $247m SEI World Select Equity fund (SIIT) (SWSAX), according to a Tuesday filing with the Securities and Exchange Commission (SEC).
SEI cited its ‘assessment of current market conditions and investor needs’ in the filing.
Launched in 2017, SWSAX has six subadvisors: Towle & Co, Poplar Forest Capital, Lazard LSV, PineStone and Brickwood. Already have an account? Do you personally advise on or manage investments for clients?
