The private sector took off after traditional banks pulled back from some risky lending following the 2008 financial crisis.
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The announcement follows similar plans by prominent asset managers like State Street, Apollo, KKR and Capital Group.
The new funds specifically target retail investors, a segment that could turn into a lucrative, untapped marketplace for the industry.
The world’s second-largest asset manager has been known for taking a low-cost approach to investing over its 50-year history.
While passive US large-cap ETF flows overshadowed those of their active counterparts, sales for the latter are still growing quickly.
The trade war doesn’t look so bad for international markets (at least not yet), and the trend away from US stocks could benefit emerging markets…
Advisors are increasingly using model portfolios to outsource asset allocations and spend more time on financial planning.