As 2016 comes to a close, it's time for MFWire
to look back on the news of the year and highlight the stories that you, the readers, favored above the rest. Here are the 16 most-read industry stories of 2016.
| Michael Niedermeyer|
Wells Fargo Asset Management
11/15 - The mutual fund shop's
chief unveiled expense cuts and promoted a new COO and a trio of CIOs.
2/2 - The Waddell & Reed arm's
president retired on June 30.
3/18 - Proportionately, DoubleLine
brought in more net inflows in February than any other top 50 fund firms, per M*'s
7/28 - An arm of Mitsubishi UFJ Financial Group
acquired Rydex Fund Services
from Guggenheim Investments
. The price tag on the deal was reportedly $190 million, 0.37 percent of Rydex Fund Services' $52 billion in assets under administration.
1/19 - Per M*'s estimates, in 2015 Vanguard
brought in $230.396 billion in net flows in open-end mutual funds and ETFs, more than double what any other fund firm netted.
3/1 - Publicly-traded Canadian asset manager Fiera Capital Corporation
agreed to buy Dayton, Ohio-based Apex Capital Management
, a U.S. growth equity specialist, for $145 million.
2/9 - Northern Trust
CEO Rick Waddell
sent a memo freezing salaries across the board for U.S. and European employees and freezing hiring "for both new and replacement posts."
1/28 - Bill Adams
and Margo Cook
took over as co-presidents of Nuveen
2/17 - On June 30 senior managing director and equity PM Frank Boggan
withdrew from the partnership.
1/4 - Per Bloomberg
data, the Fidelity Select Retailing Portfolio
, PMed by Deena Friedman
, was the top of the $1-billion-plus U.S. equity mutual fund pack in 2015.
2/19 - Analysts' new estimates of the value of Oaktree Capital's
20-percent stake in DoubleLine Capital
suggest that the latter firm is worth $4.465 billion.
3/23 - Thrivent
were the biggest winners at Lipper's
2016 fund awards show in New York City.
2/16 - Per M* estimates, Vanguard, DoubleLine, and DFA
were the only fund firms that brought in more than $1 billion in net open-end mutual fund and ETF inflows in January.
1/14 - Senior vice president and PM Jamie Rome
withdrew from the partnership on June 30.
2/18 - The OppenheimerFunds
CEO picked new marketing and corporate strategy chiefs and a new general counsel.
1/8 - Wells Fargo Asset Management
CEO Mike Niedermeyer
retired in March after more than 28 years with the company.
Stay ahead of the news ... Sign up for our email alerts now