Neuberger Berman was founded in 1939 to do one thing: deliver compelling investment results for our clients over the long term. This remains our singular purpose today, driven by a culture rooted in deep fundamental research, the pursuit of investment insight and continuous innovation on behalf of clients, and facilitated by the free exchange of ideas across the organization. From offices in 39 cities across 26 countries, Neuberger Berman manages a range of equity, fixed income, private equity and hedge fun ...

Core Viewpoint - Lazard Global Total Return and Income Fund, Inc. has announced a monthly distribution of $0.15340 per share, payable on February 23, 2026, to shareholders of record on February 10, 2026, as part of its Managed Distribution Policy [1]. Distribution Details - The current distribution consists of $0.00078 from net investment income (1%), $0.15262 from return of capital (99%), and totals $0.15340 per share [2][3]. - Cumulative distributions for the fiscal year to date amount to $0.15340 per share, with 0.83% of cumulative fiscal year distributions as a percentage of NAV as of December 31, 2025 [3]. Performance Metrics - The average annual total return in relation to NAV for the 5-year period ending December 31, 2025, is 7.40% [3]. - The annualized current distribution rate expressed as a percentage of NAV as of December 31, 2025, is 10.02% [3]. - The cumulative total return in relation to NAV for the fiscal year through December 31, 2025, is 15.34% [3]. Investment Strategy - The Fund's investment objective is total return, focusing on capital appreciation and current income, with net assets invested in a portfolio of approximately 60 to 80 US and non-US equity securities, including those with market capitalizations greater than $2 billion [7]. - The Fund may also invest in emerging market currencies and debt obligations, including government and corporate obligations [8].

Leadership Transition - T. Rowe Price announced a leadership transition within its T. Rowe Price Investment Management division (TRPIM), with Steph Jackson retiring at the end of 2026 after impactful leadership [1][3] - Steven Krichbaum will assume the role of associate head of TRPIM effective January 22, 2026, and will succeed Jackson as head of TRPIM on January 1, 2027 [4][5] Background of Steph Jackson - Jackson has been with T. Rowe Price since 2007, holding various influential roles, including portfolio specialist and director of research for the Equity Associate Analyst Program [2] - He played a pivotal role in establishing TRPIM in 2022, enhancing the firm's ability to serve clients [2] Contributions and Legacy - Jackson has championed multiple business resource groups and promoted inclusivity within the firm [3] - He has deepened community ties in Baltimore through initiatives like the T. Rowe Price Foundation's Moonshot initiative [3] Background of Steven Krichbaum - Krichbaum joined T. Rowe Price in 2006 and has nearly two decades of investment and leadership experience, including roles as analyst and head of strategic initiatives [5] - He has served as TRPIM director of equity and fixed income research prior to his new role [5] Company Overview - T. Rowe Price Investment Management (TRPIM) was established in 2022 to enhance the firm's ability to deliver specialized investment solutions globally [6] - As of December 31, 2025, T. Rowe Price manages $1.78 trillion in client assets, with about two-thirds being retirement-related [7]

Bank of America said on Tuesday it will award about $1 billion in equity to all employees except senior management, after the lender capped a strong year marked by a surge in profits. ...

Core Insights - Morgan Stanley reported fourth-quarter earnings that exceeded analyst expectations, with net revenues of $17.9 billion and earnings per share of $2.68, surpassing consensus estimates of $17.72 billion and $2.41 respectively [1] - The firm experienced a quarterly revenue increase of 10.3% from $16.2 billion in the prior-year period [1] Investment Banking Performance - Investment banking revenue surged 47% year over year to $2.41 billion, while equity revenues rose 10% to $3.67 billion [2] - These gains were partially offset by a 9% decline in fixed income revenues, which decreased to $1.76 billion [2] Full-Year Financials - For full-year 2025, Morgan Stanley reported record net revenues of $70.6 billion, an increase of 14.3% from 2024 [2] - Net income totaled $16.9 billion, or $10.21 per diluted share, with a return on tangible common equity of 21.6% [2] Wealth and Investment Management - The Wealth Management division posted net revenues of $8.43 billion, reflecting a 13% year-over-year increase [3] - Investment Management revenues increased by 5% to $1.72 billion [3] - The firm concluded the year with a standardized CET1 capital ratio of 15.0% [3]

Core Viewpoint - Neuberger Berman focuses on delivering compelling long-term investment results for clients, driven by a culture of fundamental research and innovation [1] Company Overview - Founded in 1939, Neuberger Berman operates in 39 cities across 26 countries, managing a diverse range of investment strategies including equity, fixed income, private equity, and hedge funds [1] - The firm has a total of 2,850 employees, including 763 investment professionals, emphasizing a commitment to client outcomes and investment excellence [1] Employee and Culture - Neuberger Berman has achieved high retention rates among senior investment staff and has been recognized in the Pensions & Investments "Best Places to Work in Money Management" survey as either first or second since 2014 [1] - As a private, independent, employee-owned investment manager, the firm aligns its structure with the long-term interests of clients, with no external parent or public shareholders [1] Financials - As of June 30, 2025, Neuberger Berman manages $538 billion in assets [1]

Core Viewpoint - Franklin Resources, Inc. (BEN) is a global investment management firm with a market cap of $12.4 billion, managing over $1.6 trillion in assets and expected to announce its fiscal first-quarter earnings for 2026 soon [1] Financial Performance - Analysts anticipate BEN to report a profit of $0.57 per share on a diluted basis for the upcoming quarter, reflecting a 3.4% decrease from $0.59 per share in the same quarter last year [2] - For the full fiscal year, EPS is projected to be $2.50, which is a 12.6% increase from $2.22 in fiscal 2025, with further growth expected to $2.80 in fiscal 2027 [3] Stock Performance - BEN stock has outperformed the S&P 500 Index, gaining 18.2% over the past 52 weeks compared to the index's 16.9% increase, and also surpassed the Financial Select Sector SPDR Fund's 13.9% gains during the same period [4] Growth Drivers - The company's outperformance is attributed to strong alternative assets, ETF inflows, and digital investment solutions, with $22.9 billion raised in private markets and $1.7 billion in digital-asset AUM growth [5] Recent Results - On November 7, BEN shares fell over 4% after reporting Q4 results, with an adjusted EPS of $0.67 exceeding Wall Street's expectations of $0.57, and revenue reaching $2.3 billion, surpassing forecasts of $2.1 billion [6] Analyst Ratings - The consensus opinion on BEN stock is cautious, with a "Hold" rating overall; among 12 analysts, three recommend a "Strong Buy," four a "Hold," one a "Moderate Sell," and four a "Strong Sell," with an average price target of $24.45 indicating a potential upside of 2.7% [7]

Core Insights - Schneider Downs Wealth Management Advisors significantly increased its position in Federated Hermes, acquiring 2,577,442 shares, bringing its total stake to 2,657,263 shares valued at $137.99 million, which constitutes 16.37% of the fund's total assets under management (AUM) [1][7] - Federated Hermes has demonstrated strong financial performance with a total revenue of $1.74 billion and a net income of $380.98 million over the trailing twelve months (TTM) [3] - The company has a consistent dividend policy, having raised its dividend payout by 25.9% over the past five years, with a current yield of 2.77% [6] Company Overview - Federated Hermes, Inc. is a prominent asset management holding company based in Pittsburgh, Pennsylvania, with additional offices in New York and London, managing a diverse range of investment products across global equity and fixed income markets [4] - The firm employs both fundamental and quantitative investment strategies, catering to a wide array of clients, including individuals, high net worth investors, financial institutions, and government entities [8] Recent Developments - Schneider Downs Wealth Management Advisors' portfolio has grown by 92.6% since the end of Q3 2023, reaching a total size of $843 million [5] - The asset manager's stock has outperformed the S&P 500 by 9.02 percentage points over the past year, with a share price increase of 20.49% [7]

Core Insights - Neuberger Berman was established in 1939 with the primary goal of delivering compelling long-term investment results for clients [1] - The firm operates with a culture focused on deep fundamental research, investment insight, and continuous innovation [1] - Neuberger Berman manages a diverse range of investment strategies including equity, fixed income, private equity, and hedge funds [1] Company Overview - The firm has a global presence with offices in 39 cities across 26 countries [1] - Neuberger Berman employs 763 investment professionals and a total of 2,850 employees [1] - The company has achieved high retention rates among senior investment staff and has been recognized in the Pensions & Investments "Best Places to Work in Money Management" survey since 2014 [1] Investment Philosophy - As a private, independent, employee-owned investment manager, Neuberger Berman is aligned with the long-term interests of clients [1] - The firm has no external parent or public shareholders, allowing it to focus solely on its core mission [1] - Employee compensation is directly linked to team and firm strategies, fostering a collaborative investment approach [1] Financial Metrics - As of June 30, 2025, Neuberger Berman manages $538 billion in assets [1]

Core Insights - T. Rowe Price Group reported preliminary assets under management (AUM) of $1.77 trillion as of September-end, an increase from $1.73 trillion at the end of August [3] Summary by Asset Class - Equity AUM stood at $885 billion [3] - Fixed income, including money market, accounted for $208 billion [3] - Multi-asset AUM was reported at $618 billion [3] - Alternatives AUM totaled $56 billion [3]