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First Sentier Investors (FSI) is shuttering four investment teams, seeing the exit of 30 professionals by the end of the year and the loss of about $14 billion in assets under management.
(Bloomberg) -- Australian fund manager First Sentier Investors plans to close four funds totaling A$14 billion ($9 billion) in a retreat from low-margin business lines, it announced Tuesday.Most Read from BloombergTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayRay Dalio’s Famous Trade Is Sputtering and Investors Are BailingStocks Climb as US Earnings Kick Into High Gear: Markets WrapRussians Transform Dubai as They Flee Putin’s War: Photo EssaySea Billionaire’s Wife to Buy Singapo
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The big banks’ share prices have got ahead of their earnings outlook, but that doesn’t mean investors are dropping them en masse.