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Blackrock recorded a 2% drop in revenue and a 7% drop in net income in the second quarter.
As investors flee actively-managed, higher revenue products in favor of passive funds, asset managers need a smarter sales strategy than cold calls.
PIMCO is investing in a number of technology areas, but CEO Manny Roman said he's always worried about staying a step ahead of new competitors.
Asset managers like BlackRock are increasingly interested in building digital tools to work more directly with financial advisors.
PIMCO is trying to turn every employee into a 'citizen data scientist,' chief technology officer Dirk Manelski told Business Insider.
Shares of WisdomTree cratered in the last 12 months, falling 40% amid a broader sell-off among asset managers. The industry is suffering from fee pressures, outflows, and increased market volatility.
2018 was the fifth year in a row that the total number of hedge-fund launches declined, per Preqin, despite some big-name and record-setting launches.