Deals
For Asset Managers Battling Index Funds, It's Hunt or Be Hunted
- BlackRock, Franklin among firms seen targeting smaller rivals
- U.K.’s Aberdeen could pair up with a company in U.S. market
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Money managers, squeezed as investors flock to low-cost index funds, are cutting deals.
Janus Capital Group Inc. and U.K.-based Henderson Group Plc are merging to reduce costs, broaden their product mix and expand geographically. Last week, Japan’s SoftBank Group Corp. struck a $3.3 billion agreement to buy alternative-asset manager Fortress Investment Group LLC, whose shares had lost two-thirds of their value since the company went public in 2007.