SEC and Ameriprise settle lawsuit over high mutual fund fees
The regulatory lawsuit took aim at Ameriprise for allegedly making customers pay $1.78 million in unnecessary charges

KKR appoints new independent director
KKR has appointed French technology entrepreneur Xavier Niel to the Board of Directors of KKR Management

Canadian asset manager acquires Asian private credit specialist Clearwater
In a bid to gain entry to the Asian private credit market, Canadian investment firm Fiera Capital Corporation has acquired Asian credit specialist Clearwater Capital Partners

Credit specialist poaches Goldman Sach's Eric Muller in New York
Credit specialist Oak Hill Advisors has hired New York-based Eric Muller from Goldman Sachs Group, according to a market source

Manchester pension fund awards Stone Harbor £1 billion multi-credit mandate
A £21 billion UK pension fund has appointed global fixed income specialists Stone Harbor Investment Partners to manage a £1 billion multi-asset credit mandate

Cowen brings together credit and equity for its sales and trading platform
Cowen has announced two senior appointments as part of its effort to align its credit and equity trading platforms

Sun Life subsidiary launches new fixed income strategy for pension funds
New York-based Ryan Labs Asset Management has announced the launch of its Defensive Risk Premia strategy for corporate and public pension plans, as well as other institutional investors

Oppenheimer and Carlyle launch global credit fund as part of JV
Carlyle Group and OppenheimerFunds International have filed to register the first fund product of their previously announced joint venture. The vehicle will invest in a wide range of credit products including CLOs, direct lending and opportunistic debt

SEC delays compliance deadline for liquidity risk management initiative
Credit-focused mutual funds in the US now have an additional six months to comply with the (SEC’s incoming liquidity risk management programme

UBS O'Connor professional resurfaces in business development role at Context
Hedge fund manager UBS O'Connor has lost Arun Gowda to Context Capital Partners, a seeding firm focused on alternative investment strategies

BlueMountain hires former Pine River credit specialist
BlueMountain Capital Management has hired credit specialist Colin Teichholtz as global governments and agency mortgage-backed securities head

Redwood gets green light for marijuana-focused bond and equity fund
Ahead of expected legalisation of recreational marijuana use in Canada this year, Redwood Asset Management has launched the world first actively managed, marijuana-focused ETF in that country

GSAM loses another co-portfolio manager on $4 billion high yield fund
A former managing director has left Goldman Sachs Asset Management (GSAM) just months after one of his co-portfolio managers departed the firm, US SEC filings indicate

WisdomTree reaps benefits of "transformative" 2017 with strong earnings release
The ETF specialist revealed an 18.4% year-on-year AUM growth and fixed income inflows in its latest earnings presentation

JP Morgan AM establishes high yield municipal bond platform
JP Morgan AM has appointed a managing director and head of high yield municipal bond strategies to establish a high yield municipal bond platform

Och-Ziff’s multi-strategy funds continue to bleed assets
The embattled hedge fund firm’s AUM is down 14% year-on-year, and its multi-strategy assets – which sat at $31.8 million at the end of 2013 – were down to $13.7 billion in December 2017

Allianz's asset management business drives strong group results for 2017
Third-party net inflows for the group's asset management business hit a record €150 billion for the year as customers were drawn to top-performing funds, the company said on Friday

MFS fixed income veteran gives up PM duties on $1.45 billion of funds
A fixed income specialist at MFS Investment Management is relinquishing portfolio management duties on four closed-end debt funds with collective assets of about $1.45 billion

Buoyed by four credit fund closes, Brookfield grows AUM by $35 billion in 2017
Toronto-based property manager Brookfield Asset Management has described 2017 as a “very successful” year characterised by strong fundraising for real assets, as well as significantly increased net income and funds from operations

American Beacon's new Sound Point-subadvised fund to invest in CLOs and credit
American Beacon has filed to register a new interval fund with the SEC. The vehicle will invest in credit products and CLOs and be subadvised by Sound Point 

Ares switches to C-Corp structure as it announces "record year" in earnings release
Ares has announced a change to its corporate tax status in an earnings release that described 2017 as “a record year” for the firm

Apollo reorganises its global credit platform
Sources say Apollo Global Management has reshaped its credit business by merging certain divisions and promoting several staffers in New York. Separately, sources say a high-ranking credit head has left the firm

AB reports "exceptional" 2017 and growing AUM
AB has reported its earnings for 2017, described by chief executive officer Seth Bernstein as an “exceptional” year for the firm

AB names fixed income co-heads and replaces Ashish Shah on two funds
Following the departure of Ashish Shah, who was AB's head of fixed income and chief investment officer, Will Smith has been appointed co-manager on two bond funds. Meanwhile, the firm has named two co-heads of fixed income

Natixis AM reports $1 trillion AUM in 2017 results
Paris-headquartered Natixis has reported solid growth, and an end-of-2017 AUM of $1 trillion, for its asset and wealth management unit