Shares Of Asset Managers Rise On March Gains

NEW YORK (AP) — Shares of asset managers rose Thursday as investors were encouraged by the industry's March performance, but Goldman Sachs analysts warned of remaining challenges ahead.

While "less worse" than the previous quarter, analysts Marc Irizarry, Alexander Blostein and Neha Killa wrote they expect first-quarter earnings to remain disappointing.

They noted that that the 24 percent rally in stock prices the group saw in March was a surprise and that equity flows improved from last quarter. But redemptions from worried investors remain at negative levels, they wrote. ...