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Asset Manager Shares Mostly Rise On Upgrades

Stock quotes in this article: BEN , BLK , IVZ , LM  

MARK JEWELL

BOSTON (AP) — Shares of asset managers mostly rose on Wednesday after a Citi Investment Research analyst upgraded his ratings on four of the companies' stocks, citing recent improvement in the flow of cash to equity and fixed income investments.

Several drivers of a recovery in the flow of money to asset managers "should support higher upside, but more importantly partially offset downside risk in a declining market," analyst Keith F. Walsh wrote in a research note Tuesday.

"Our general view of the group has become more positive based on the trends," Walsh said. ...

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