Passive management is an investing strategy that tracks a market-weighted index or portfolio. Passive management is most common on the equity market, where index funds track a stock market index, but it is becoming more common in other investment types, including bonds, commodities and hedge funds.
Fidelity Investments Inc., commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts. The company was established in 1946 and is one of the largest asset managers in the world with $4.9 trillion in assets under management as of June 2020 and a combined total customer asset value number of $8.3 trillion. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, cryptocurrency, securities execution and clearance, asset custody, and life insurance.
An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the day on stock exchanges whereas mutual funds are bought and sold from the issuer based on their price at day's end. An ETF holds assets such as stocks, bonds, currencies, futures contracts, and/or commodities such as gold bars, and generally operates with an arbitrage mechanism designed to keep it trading close to its net asset value, although deviations can occasionally occur. Most ETFs are index funds: that is, they hold the same securities in the same proportions as a certain stock market index or bond market index. The most popular ETFs in the U.S. replicate the S&P 500 Index, the total market index, the NASDAQ-100 index, the price of gold, the "growth" stocks in the Russell 1000 Index, or the index of the largest technology companies. With the exception of non-transparent actively managed ETFs, in most cases, the list of stocks that each ETF owns, as well as their weightings, is posted daily on the website of the issuer. The largest ETFs have annual fees of 0.03% of the amount invested, or even lower, although specialty ETFs can have annual fees well in excess of 1% of the amount invested. These fees are paid to the ETF issuer out of dividends received from the underlying holdings or from selling assets.
Haverford is an affluent, unincorporated community located in both Haverford Township in Delaware County, Pennsylvania, US, and Lower Merion Township in Montgomery County, about 3 miles (4.8 km) west of Philadelphia. The Pennsylvania Railroad (PRR) opened Haverford Station in 1880 on their Main Line west out of Broad Street Station in Philadelphia. Haverford sits at milepost 9.17.
The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania with about $7 trillion in global assets under management, as of January 13, 2021. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares. In addition to mutual funds and ETFs, Vanguard offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management. Along with BlackRock and State Street, Vanguard is considered one of the Big Three index fund managers that dominate corporate America.
D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The company is known for developing complicated mathematical models and sophisticated computer programs to exploit anomalies in the financial market. D. E. Shaw & Co. manages $55 billion in AUM, $35 billion of which are alternative investments and the remaining $20 billion long-oriented investments. In 2018, Institutional Investor reported that among hedge funds, D. E. Shaw & Co. had delivered the fifth-highest returns in the world since its inception.
Value investing is an investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis. The various forms of value investing derive from the investment philosophy first taught by Benjamin Graham and David Dodd at Columbia Business School in 1928, and subsequently developed in their 1934 text Security Analysis.
Franklin Resources Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson, Sr. In 1973 the company's headquarters moved from New York to San Mateo, California. As of October 12, 2020, Franklin Templeton held US$1.4 trillion in assets under management (AUM) on behalf of private, professional and institutional investors.
New York Life Insurance Company (NYLIC) is the third-largest life insurance company in the United States, the largest mutual life insurance company in the United States and is ranked #67 on the 2021 Fortune 500 list of the largest United States corporations by total revenue. NYLIC has about $593 billion in total assets under management, and more than $25 billion in surplus and AVR. In 2007, NYLIC achieved the best possible ratings by the four independent rating companies. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.
State Street Global Advisors (SSGA) is the investment management division of State Street Corporation and the world's fourth largest asset manager, with nearly $3.59 trillion (USD) in assets under management as of 31 March 2021.
John B. Neff, CFA, was an American investor, mutual fund manager, and philanthropist. He was notable for his contrarian and value investing styles as well as for heading Vanguard's Windsor Fund.
In the investment management industry, a separately managed account (SMA) is any of several different types of investment accounts. For example, an SMA may be an individual managed investment account; these are often offered by a brokerage firm through one of their brokers or financial consultants and managed by independent investment management firms ; they have varying fee structures. These particular types of SMAs may be called "wrap fee" or "dual contract" accounts, depending on their structure. There is no official designation for the SMA, but there are common characteristics that are represented in many types of SMA programs. These characteristics include an open structure or flexible investment security choices; multiple money managers; and a customized investment portfolio formulated for a client's specific investment objectives or desired restrictions.
Virtus Investment Partners, Inc. operates a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated subadvisers.
Lord, Abbett & Co. LLC is an independent, privately-held investment management company headquartered in Jersey City, New Jersey. The firm offers a variety of fixed−income and equity strategies to individual and institutional investors. Lord Abbett has a global presence with offices in London, Dublin, Paris, Tokyo, and Montevideo.
First Eagle Investments is a US investment management company based in New York City that is an adviser to the First Eagle Funds. The company manages a number of investment strategies and Investment funds including the First Eagle Global Fund, First Eagle Overseas Fund and First Eagle Fund of America.
AQR Capital Management is a global investment management firm based in Greenwich, Connecticut, United States. The firm, which was founded in 1998 by Cliff Asness, David Kabiller, John Liew, and Robert Krail, offers a variety of quantitatively driven alternative and traditional investment vehicles to both institutional clients and financial advisors. The firm is primarily owned by its founders and principals. AQR has additional offices in Boston, Chicago, Los Angeles, Bangalore, Hong Kong, London, Sydney, and Tokyo.
Profit Investment Management, LLC is a SEC registered investment advisory firm based in Bethesda, MD. The Firm was founded in 1996 by Eugene Profit, the current president, CEO, and portfolio manager of the firm. Profit Investment Management manages large-cap, small-cap and ESG equity portfolios.
Affiliated Managers Group, Inc. is an American international investment management company headquartered in West Palm Beach, Florida, that owns stakes in a number of boutique asset management, hedge fund, and specialized private equity firms.
Michael Dever is an American businessman, futures trader, entrepreneur, and author. Dever is the founder and CEO of Brandywine Asset Management, Inc., an investment management firm founded in 1982, and he is the author of the best-selling investment book "Jackass Investing: Don't do it. Profit from it."
Brandywine Asset Management, Inc. is an American investment management firm founded and managed by Michael Dever. The firm is registered as a commodity trading advisor.
