The Asset Manager Arms Race Has Only Just Begun It was a banner year for mergers in money management as the continuing fee war squeezes margins. Don’t expect it to slow down in 2021.
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(Bloomberg Opinion) For years, the asset-management industry has braced itself for shocks. In 2018, $369 billion poured out of long-term mutual funds in favor of exchange-traded funds, a record at the time. In 2019, the case for traditional actively managed mutual funds became even harder to make when Charles Schwab Corp. jump-started a race to the bottom among online brokerages by eliminating commissions for ETFs along with U.S. stocks and options.
Mary Chris Jammet Joins the Boards of Directors of Adams Diversified Equity Fund and Adams Natural Resources Fund
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BALTIMORE, Dec. 10, 2020 /PRNewswire/ The Boards of Directors of Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO), two of the nation s oldest closed-end funds, announce the election of Mary Chris Jammet as an independent director of the Funds, effective December 10, 2020.
Ms. Jammet is a seasoned investment management professional and experienced corporate board member who brings more than 30 years of experience to Adams Funds. Currently a Principal with Bristol Partners, Ms. Jammet served as Senior Vice President and Portfolio Manager at global asset management firm Legg Mason, Inc. (now Franklin Templeton), where she was responsible for $20 billion in client assets before retiring in 2013. In 2014, Ms. Jammet was elected to the Board of Directors of MGM Resorts Inte