Investment management

Vanguard Announces Senior Leadership Change

Retrieved on: 
Tuesday, December 19, 2023

VALLEY FORGE, Pa., Dec. 19, 2023 /PRNewswire/ -- Vanguard today announced the retirement of Tom Rampulla, managing director and head of Vanguard's Financial Advisor Services (FAS) division, following 35 years of dedicated service to the firm. Amma Boateng, current head of the Broker-Dealer channel within FAS, will join Vanguard's senior leadership team and become the head of the division effective January 1, 2024.

Key Points: 
  • Amma Boateng, current head of the Broker-Dealer channel within FAS, will join Vanguard's senior leadership team and become the head of the division effective January 1, 2024.
  • Mr. Rampulla joined Vanguard in 1988 and was appointed to Vanguard's senior leadership team as head of FAS in 2015.
  • Under his leadership, FAS has grown to manage more than $3 trillion in assets, serving more than 150,000 financial advisors with investments, services, education, and research.
  • "For more than 35 years, Tom has worked tirelessly for Vanguard clients and crew," said Vanguard Chairman and CEO Tim Buckley.

Voya Investment Management releases new annual long-term assumptions for the capital markets

Retrieved on: 
Wednesday, December 13, 2023

Voya Investment Management (Voya IM), the asset management business of Voya Financial, Inc. (NYSE: VOYA), today issued its annual Capital Markets Assumptions report for 2024.

Key Points: 
  • Voya Investment Management (Voya IM), the asset management business of Voya Financial, Inc. (NYSE: VOYA), today issued its annual Capital Markets Assumptions report for 2024.
  • Among the key insights are:
    The next decade will likely be characterized by returns below historical averages across all major asset classes.
  • Voya IM’s base case forecasts 1.6% U.S. GDP growth through 2033, driven by below trend productivity growth and subdued labor force growth.
  • Developed market equities are likely to deliver mid-single digit returns, with U.S. markets higher than most comparable non-U.S. ones.

Wells Fargo Investment Institute Believes 2024 is a Pivotal Year for the Economy and Markets

Retrieved on: 
Thursday, December 7, 2023

With Wells Fargo Investment Institute’s (WFII’s) release of its “ 2024 Outlook: A pivotal year for the economy and markets ,” the team offers its highest conviction ideas for investors to consider in the new year.

Key Points: 
  • With Wells Fargo Investment Institute’s (WFII’s) release of its “ 2024 Outlook: A pivotal year for the economy and markets ,” the team offers its highest conviction ideas for investors to consider in the new year.
  • WFII believes the 2024 economic story could be a tale of two halves for fixed income and equities.
  • View the full release here: https://www.businesswire.com/news/home/20231206386597/en/
    Wells Fargo Investment Institute 2024 Outlook (Graphic: Wells Fargo)
    “More long-term opportunities to put money back to work across some markets and regions should come as 2024 develops,” said Darrell Cronk, chief investment officer for Wells Fargo Wealth & Investment Management.
  • Consider all relevant information, including your existing portfolio, investment objectives, risk tolerance, liquidity needs, and investment time horizon.

The Fifth Annual Milken Institute Middle East and Africa Summit Returns to Abu Dhabi

Retrieved on: 
Thursday, December 7, 2023

The Milken Institute’s fifth annual Middle East and Africa (MEA) Summit will take place December 7-8, 2023 at the Rosewood Hotel Abu Dhabi.

Key Points: 
  • The Milken Institute’s fifth annual Middle East and Africa (MEA) Summit will take place December 7-8, 2023 at the Rosewood Hotel Abu Dhabi.
  • "This year’s Middle East and Africa Summit will focus on solutions to some of the challenges in the region that have global import," said Richard Ditizio , CEO of the Milken Institute.
  • The Milken Institute has a long-standing commitment to advancing solutions to global issues, and the MEA Summit is a testament to that commitment.
  • The Milken Institute will live-stream the Middle East and Africa Summit public sessions, expanding access to the event.

Commonwealth Expands Model Portfolio Platform to Provide Advisors Greater Choice and Control

Retrieved on: 
Tuesday, December 5, 2023

The expanded model platform empowers Commonwealth’s advisors to deliver on their client’s unique investment goals while gaining scale and efficiencies in their advisory practices.

Key Points: 
  • The expanded model platform empowers Commonwealth’s advisors to deliver on their client’s unique investment goals while gaining scale and efficiencies in their advisory practices.
  • With PPS Select, advisors can lean on Commonwealth’s investment expertise that pursues competitive performance across more than 100 diversified model portfolio solutions, simplifying the investment management process.
  • From 2019 to 2022, average production growth for advisors leveraging PPS Select was higher than those who opted to retain full control of investment management responsibilities.
  • The newest iteration of PPS Select provides advisors with even greater choice, control, and flexibility.”
    The newest offering, PPS Select Compass, allows advisors to retain control over client portfolio construction while outsourcing the time-consuming tasks of due diligence, ongoing monitoring, and operational functions to Commonwealth’s seasoned team of experts.

DigitalBridge to Participate in Upcoming Investor and Industry Conferences in December 2023

Retrieved on: 
Friday, December 1, 2023

DigitalBridge Group, Inc. (“DigitalBridge” or the “Company”) (NYSE: DBRG), a leading global alternative asset manager dedicated to investing in digital infrastructure, today announced senior executives from DigitalBridge will participate in the following upcoming investor and industry events:

Key Points: 
  • DigitalBridge Group, Inc. (“DigitalBridge” or the “Company”) (NYSE: DBRG), a leading global alternative asset manager dedicated to investing in digital infrastructure, today announced senior executives from DigitalBridge will participate in the following upcoming investor and industry events:
    Jacky Wu, CFO of DigitalBridge, will be speaking on Tuesday, December 5, 2023, at 2:15 pm ET.
  • Senior Management executives from the firm will be conducting 1x1 meetings with investors at the conference.
  • To listen to the webcast, please register here.
  • Wilson Chung, Managing Director, Investment Management at DigitalBridge, will be participating in a keynote fireside chat, “The Next Wave of Digital Infrastructure in the Coming Five Years” on Tuesday, December 12, 2023, at 9:15 am SGT.

Voya Investment Management survey finds employers think their workforce is on track for retirement, but employees say otherwise

Retrieved on: 
Thursday, November 30, 2023

This year, Voya IM surveyed plan participants for the first time, and their responses show just how much plan sponsors overestimate participant retirement readiness.

Key Points: 
  • This year, Voya IM surveyed plan participants for the first time, and their responses show just how much plan sponsors overestimate participant retirement readiness.
  • As in 2021, sponsors’ top concerns remained to ensure that their plans comply with new regulations and that their participants are properly invested.
  • As a result, it’s become clear there is a disconnect between employers and their employees surrounding retirement readiness,” said Brian Houston, SVP, Business Development Manager, DCIO, Voya IM.
  • In addition, 87% are also more likely to stay with their employer if they offer competitive retirement planning services and products.

Wells Fargo & Company Declares Cash Dividends on Preferred Stock

Retrieved on: 
Friday, November 17, 2023

Wells Fargo & Company (NYSE: WFC) today announced dividends on seven series of preferred stock.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced dividends on seven series of preferred stock.
  • A quarterly cash dividend of $414.06 per share was declared on its 6.625% fixed-to-floating noncumulative perpetual class A preferred stock, Series R, liquidation preference $25,000 per share.
  • A quarterly cash dividend of $351.56 per share was declared on its 5.625% noncumulative perpetual class A preferred stock, Series Y, liquidation preference $25,000 per share.
  • News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Voya Equity Closed End Fund Declares Distribution

Retrieved on: 
Thursday, November 16, 2023

Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE: VOYA), announced today the monthly distribution on the common shares of one of its closed-end funds.

Key Points: 
  • Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE: VOYA), announced today the monthly distribution on the common shares of one of its closed-end funds.
  • With respect to the Fund, the distribution will be paid on December 15, 2023, to shareholders of record on December 4, 2023.
  • The distribution per share for the Fund is as follows:
    Voya Global Equity Dividend and Premium Opportunity Fund (NYSE: IGD)
    IGD intends to make regular monthly distributions based on the past and projected performance of the Fund.
  • There can be no assurance that a Fund will be able to declare a distribution in each period.

Firsthand Technology Value Fund Announces Third Quarter Financial Results, NAV of $0.10 Per Share

Retrieved on: 
Tuesday, November 14, 2023

During the quarter, the Fund suffered material setbacks in IntraOp Medical Corp. and Wrightspeed, Inc., two of its largest holdings at the start of the quarter.

Key Points: 
  • During the quarter, the Fund suffered material setbacks in IntraOp Medical Corp. and Wrightspeed, Inc., two of its largest holdings at the start of the quarter.
  • Effective September 30, 2023, the Fund has entered into a fee waiver agreement with its investment adviser, Firsthand Capital Management, Inc. (“FCM”).
  • For the quarter ended September 30, 2023, the Fund reported a total investment loss of approximately $0.2 million.
  • The Fund reported net realized and unrealized losses on investments of approximately $12.3 million for the quarter.