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Fed Done Lifting Rates: Morgan Stanley's Ellen Zentner on the US Economy and Monetary Policy

Wells Fargo staging a $1 billion turnaround launching independent RIAs to capture high new worth clients.

Several money managers, including BlackRock, State Street, Columbia Threadneedle, Janus Henderson, and Hartford Funds, have closed more than two dozen sustainable funds in the US this year, according to Morningstar data. The closures come as interest in ESG investing wanes amid political backlash and disappointing returns. Some funds struggled to attract assets, while others underperformed due to their weighting towards growth strategies.

The SEC approved a rule that requires investment funds to accurately reflect their investment focus in their names. The rule states that a fund must invest at least 80% of its assets in line with the focus suggested by its name. The SEC hopes that this will help investors understand the investment strategy of a fund and prevent misleading advertising. The new rules will become effective 60 days after they are published in the Federal Register, and fund groups will have 12-18 months to comply.

Baron’s success belies the fact that for most stock pickers, beating market indexes by betting big on a few names is a strategy with exceedingly dismal odds. That’s especially true in this tech-powered era of the Magnificent Seven.

Either the man is misremembering or he's telling the truth. If he's claiming to have dictated rate policy, the biggest problem is that people will believe the Fed is for sale if you figure out which arm to twist.