Portfolio

Municipal bond mutual funds recorded a second consecutive week of strong flows, as funds that report their flows weekly saw $1.44 billion in inflows for the week of Jan. 16.

According to Joe Hurley, founder of Savingforcollege.com, by far the most frequently asked questions he receives from advisors concern the impact of 529 plans on financial aid.

Legg Mason, the money manager best known as home to stockpicker Bill Miller, is folding Miller’s Legg Mason Capital Management division into its ClearBridge Investments equity unit as assets have tumbled.

So what does a quartet of space ships beaming up a cow and an exploding airbag have to do with investment management?

Look out for a switch in sub-advisers for one Touchstone Investments fund.

Morningstar has launched the Morningstar US Real Asset Index, a diversified portfolio of liquid assets that traditionally provide a hedge against inflation, including Treasury inflation-protected securities, real estate investment trusts, and commodity stocks and futures.

Two firms are touting the launch of a new high income fund.

BlackRock Inc., the world’s biggest money manager, said fourth-quarter earnings increased 24 percent as its exchange-traded funds drew client deposits and assets rose.

Nasdaq OMX Group said it hired Bradley J. Peterson as its global chief information officer.

After four consecutive weeks of negative flows, mutual funds finally enjoyed a week of stellar sales.