Will Asset Managers Move to More Passive Investing?

BlackRock Inc.’s Laurence D. Fink said he expects consolidation in the asset management industry as firms struggle to beat benchmarks and new U.S. rules favor passive strategies. There are too many money managers having a tough time extracting alpha, Fink said Tuesday at the Deutsche Bank Global Financial Services Conference. HSBC Holdings Plc is cutting senior investment-banking positions as part of the lender’s ongoing plan to reduce costs across the company, according to a person with knowledge of the matter. The cuts reflect a gradual trimming of jobs, said the person, who asked not to be identified because the move hasn’t been announced publicly. Aviva Investors Head of Multi-Assets Peter Fitzgerald discusses the future of asset management with Bloomberg's Anna Edwards in London and Manus Cranny in Dubai on "Countdown."

‘MAGA’ ETF Combines Politics and Investing
01:57 - Bloomberg Intelligence's Eric Balchunas and Bloomberg's Abigail Doolittle look at politically themed ETFs. They speak on "Bloomberg Markets." (Source: Bloomberg)
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