Core Insights - The global economic recovery is uneven, with financial markets experiencing volatility due to inflation, interest rate policy adjustments, and geopolitical factors [1] - The common goal for asset management institutions and clients is to seek stability while pursuing progress [1] - There is a growing focus on capturing growth opportunities through diversified asset allocation while managing risks [1] Industry Trends - China's capital market reforms and opening up present new opportunities for the asset management industry [1] - There is an increasing demand for allocation in equity assets, bonds, alternative investments such as REITs, private equity, commodities, and cross-border assets [1] - Private banks and wealth management institutions are accelerating their transformation to meet the diverse needs of high-net-worth clients through digital tools and customized services [1]

Group 1 - Index investing is gaining prominence and is becoming a significant driver for the high-quality development of capital markets [1] - ETF products are not only a current market hotspot but also an important tool for asset allocation as investment strategies mature [1] - The growth of ETFs reflects a transformation in the wealth management market and capital markets, indicating a new trend [1]

Core Insights - T. Rowe Price Group, Inc. (TROW) reported preliminary assets under management (AUM) of $1.70 trillion for July 2025, reflecting a 1.6% increase from the previous month [1][7] - The company's diversified business model and strong brand are expected to support future AUM growth despite concerns over reliance on investment advisory fees [4] AUM Performance Breakdown - TROW's equity products reached $859 billion, up 2.4% from the prior month [2][7] - Fixed income products, including money market, grew 1% to $202 billion [2][7] - Multi-asset products totaled $586 billion, showing a slight increase [2] - Alternative products valued at $56 billion increased by 1.8% from the previous month [2] Target Date Retirement Portfolios - T. Rowe Price registered $524 billion in target date retirement portfolios in July 2025, showing a marginal increase from the prior month [3] Comparison with Other Asset Managers - Franklin Resources, Inc. (BEN) reported preliminary AUM of $1.62 trillion as of July 31, 2025, with a slight increase attributed to market impacts and flat long-term net inflows [5] - Invesco (IVZ) announced AUM of $2,024.5 billion for July 2025, up 1.2% from the previous month, influenced by favorable market returns despite a negative impact from foreign exchange [6]

Core Insights - Virtus Investment Partners, Inc. (VRTS) reported preliminary assets under management (AUM) of $170.8 billion for July 2025, showing a slight increase from June 30, 2025, primarily driven by positive net flows in exchange-traded funds and institutional accounts, despite net outflows in U.S. retail funds, retail separate accounts, and global funds [1][7] Group 1: AUM Performance - The company’s AUM of $170.8 billion includes $1.8 billion of other fee-earning assets, which were excluded from the AUM balance [2] - The open-end fund balance decreased nearly 1% from the prior month to $55.3 billion, while the closed-end fund balance increased by 1% to $10.6 billion [3] - Institutional accounts balance fell slightly to $57 billion sequentially, and retail separate accounts balance rose by 1.2% to $47.4 billion [3] Group 2: Business Model and Financial Outlook - The integrated multi-boutique business model of the company is expected to support its performance in a rapidly growing industry [4] - A decline in operating expenses is anticipated to bolster Virtus Investment's bottom line in the near term [4] Group 3: Industry Comparison - Victory Capital Holdings, Inc. (VCTR) reported AUM of $299.8 billion for July 2025, reflecting a marginal increase from June 30, 2025 [5] - Invesco (IVZ) announced its AUM of $2,024.5 billion as of July 31, 2025, which increased by 1.2% from the previous month, influenced by favorable market returns and impacted by foreign exchange [6]

Core Viewpoint - The proposed business combination between 180 Degree Capital and Mount Logan Capital is receiving strong support from shareholders, with over 57% of outstanding shares of 180 Degree Capital voting in favor as of August 14, 2025 [1][2][3] Group 1: Shareholder Support - As of August 14, 2025, more than 90% of the approximately 63% of outstanding shares of 180 Degree Capital voted in favor of the business combination [1] - In excess of 50% of the outstanding shares of 180 Degree Capital have been voted in favor of all other proposals scheduled for the special shareholder meeting on August 22, 2025 [1] - Mount Logan has received proxies representing votes exceeding the required thresholds to approve the resolutions necessary for the business combination [1] Group 2: Management Statements - Kevin Rendino, CEO of 180 Degree Capital, expressed encouragement regarding the strong shareholder support and emphasized the importance of collaborative work with Mount Logan for value realization [3] - Ted Goldthorpe, CEO of Mount Logan, highlighted the confidence in the business logic of the combination and the focus on long-term value creation [3] Group 3: Upcoming Meetings - Special meetings for shareholders of both 180 Degree Capital and Mount Logan to approve the proposed business combination are scheduled for August 22, 2025 [3] - Shareholders are encouraged to access the joint proxy statement and prospectus for detailed voting instructions [3]

Financial Performance - The Partnership reported a net loss of $6.2 million for the quarter ended June 30, 2025, a significant decrease from a net income of $21.6 million in the same quarter of the previous year, primarily due to unfavorable foreign currency movements and higher tax recoveries in the prior year [2][4] - Investment income for the quarter included $26.241 million in dividends and $6.450 million in other investment income, totaling $32.691 million, compared to $27.589 million in the prior year quarter [4] - Operating expenses decreased to $1.048 million from $1.301 million year-over-year, while financing costs remained relatively stable at $2.501 million compared to $2.545 million in the previous year [4] Investment Portfolio - The Partnership holds approximately 121 million Class A Limited Voting Shares of Brookfield Corporation (BN) and approximately 31 million Class A Limited Voting Shares of Brookfield Asset Management Ltd. (BAM), representing about 8% and 2% interests in BN and BAM, respectively, as of June 30, 2025 [5] - The market prices for BN and BAM shares as of June 30, 2025, were $61.85 and $55.28, respectively, with prices increasing to $65.60 and $62.11 by August 14, 2025 [3] Financial Position - As of June 30, 2025, total assets amounted to $10.329 billion, an increase from $9.640 billion at the end of 2024, with significant investments in Brookfield Corporation and Brookfield Asset Management [6] - The Partnership's liabilities included $1.271 billion, with preferred shares totaling $1.010 billion, reflecting an increase from $939 million at the end of 2024 [6] - The net book value at the end of the period was $9.010 billion, with a per unit value of $11.47, adjusted for a ten-for-one unit split effective August 8, 2025 [4][6]

Core Viewpoint - The proposed business combination between 180 Degree Capital and Mount Logan Capital is receiving strong support from shareholders, with over 57% of 180 Degree Capital's outstanding shares voted in favor as of August 14, 2025 [1][2][3] Company Updates - 180 Degree Capital is actively engaging in dialogue with its shareholders regarding the proposed business combination, indicating confidence in achieving the required vote thresholds [2][3] - The special meetings for shareholders of both companies to approve the business combination are scheduled for August 22, 2025 [3] Management Statements - Kevin Rendino, CEO of 180 Degree Capital, expressed encouragement regarding shareholder support and emphasized the importance of proper structure and governance for the combined company [3] - Ted Goldthorpe, CEO of Mount Logan, highlighted the confidence in the business logic of the combination and the focus on long-term value creation [3] Company Profiles - 180 Degree Capital Corp. is a publicly traded closed-end fund that invests in undervalued small publicly traded companies, aiming for significant turnarounds [5] - Mount Logan Capital Inc. specializes in alternative asset management and insurance solutions, focusing on public and private debt securities in North America [7]

Core Insights - The article focuses on the iShares Short Duration Bond Active ETF (BATS: NEAR), managed by Blackrock, with the goal of outperforming its benchmark [1]. Group 1: Fund Overview - The iShares Short Duration Bond Active ETF aims to provide better returns than its benchmark [1]. Group 2: Management - The fund is operated by Blackrock, a well-known investment management firm [1].

Core Viewpoint - The 2025 Asset Management Annual Conference will focus on "Breaking the Game and Restructuring - Rebuilding Competitiveness in Asset Management" and will address topics such as multi-asset allocation, index investment, new trends in asset management, and how green productivity can support high-quality corporate development [1]. Agenda Summary - The conference will feature a series of keynote speeches and roundtable discussions, including topics like multi-asset allocation strategies and the rise of passive investment trends in asset management [2][4][7]. - Keynote speakers include prominent figures from various financial institutions, such as the People's Bank of China and BlackRock, who will share insights on industry developments [5][9]. - The event will also include discussions on ESG (Environmental, Social, and Governance) investment and its implications for financial culture and market expansion [9][10].

Market Dynamics & Investment Opportunities - Small caps are outperforming the S&P 500 due to hopes of a Federal Reserve rate cut in September [1] - Small caps have a valuation disconnect with large caps, requiring greater growth to justify risk-adjusted returns [2] - Potential interest rate cuts could inject liquidity into the market, benefiting small caps due to their smaller total market capitalization compared to mega-cap stocks [3] - Deregulation and tax certainty are expected to encourage companies to proceed with planning and investments [3][4] - Long-term investors (12-18 months) may find the small-cap area interesting [9] AI Impact & Technological Moats - AI adoption is expected to drive productivity gains, but companies are still assessing the winners and losers [5][6] - Software companies face potential risks from AI entrance, requiring them to adapt to maintain their terminal values [7] - Companies with technological moats for their products and services are more likely to defend against competition [7][8] Challenges & Management - Companies are managing tariffs and their impact on supply chains [4] - Potential for slower growth in the second half due to pulled-forward purchasing to get ahead of tariffs [9] - Strong management teams are crucial for navigating the numerous challenges [8]