Janney Montgomery Scott’s Rob Battista and Ryan Shugrue know that getting promising boutiques on board can open up exciting opportunities.
Based in Newport Beach, Calif., Browne will report to Mihir Worah, Pimco's managing director and chief investment officer for asset allocation and real return.
Merrill Lynch saw revenue rise 3% year-over-year to $3.9 billion, the highest third quarter revenue since its merger with Bank of America.
Emerging markets have been a passion for TIAA’s Katherine Renfrew since high school, and it takes more than a currency crisis or two to make her retreat to cash.
The Dow Jones Industrial Average rose 288 points or 1.15% at market's close on Friday. Meanwhile the S&P 500 gained 39 points or 1.42%. The Nasdaq Composite increased 168 points or 2.29%.
The remaining subadvisors on the fund are Goldman Sachs Asset Management, SSGA Funds Management and Western Asset Management.
The fund is structured as a master-feeder fund where Mercury is the sponsor which provides the investment vehicle, Solariant Capital is the investment advisor and KAR Wealth Advisors is the initial investor in the fund.
The Dow Jones Industrial Average tumbled 546 points or 2.13% at Thursday market's close. Meanwhile the S&P 500 fell 58 points or 2.06%. The Nasdaq Composite lost 93 points points or 1.25%.
The fund has been renamed the AdvisorShares DoubleLine Value Equity ETF and will change its ticker symbol to DBLV.
Aziz Hamzaogullari will oversee the firm's growth equity strategies platform, which managed $52 billion in assets as of September 30.