The firm serves institutional investors, including corporations, public pension funds, multiemployer plans, endowments and foundations, health-care organizations, insurance companies and financial intermediaries, its website states.
SuMiTB was also looking for the solution with a single common database to facilitate its global system management while overcoming the induced challenges of time zones, volume and confidentiality across offices.
Driven by strong demand for private equity exposure over the past decade, a vast amount of capital has been committed to secondary market funds from investors looking to increase and diversify their private equity exposure.
Goldman already had a license to carry out fixed-income trades in Mexico, a business it's been operating for the past few years, and plans to expand the platform into equities.
In addition, the CCR approved four Invesco ETFs, including the Invesco EQQQ Nasdaq-100 Ucits ETF, and 11 BlackRock iShares vehicles, including the iShares Edge MSCI Europe Momentum Factor Ucits ETF.
Those firms, as well as other big Wall Street names, are now following Schwab’s lead, by lowering or canceling fees, launching new services and seeking mass-affluent customers.
The combined advisory group, which will operate under the brand name LourdMurray, oversees approximately $4.8 billion in client assets.
The firm's flagship Composite Fund, a multi-strategy vehicle that manages some $14 billion, has delivered annualized returns net of fees of nearly 11 percent since it was launched in 2001.
Institutional clients will also benefit from INTL FCStone’s full range of financial services and products within the securities, commodities, derivatives, FX, global payments, and wealth management sectors.
By asset class, equities attracted $47 billion in inflows, compared to outflows of $11 billion and $55 billion, respectively, in the fourth and first quarters in 2018.