Portfolio

Total money market mutual fund assets decreased by $1.38 billion to $2.562 trillion for the week ended Wednesday, October 10, according to the Investment Company Institute.

The past week may have been an otherwise lackluster one for the tax-exempt market, but municipal bond mutual funds saw heavy demand in the form of inflows. Funds that report their flows weekly recorded inflows of $915 million for the week ended Oct. 10.

John Hancock Funds has unveiled a new 'Insights & Commentary' section on its website featuring commentary and thought leadership on topics ranging from alternative asset classes to the Eurozone debt crisis.

The Investment Company Institute has named former journalist Mike McNamee its chief public communications officer, responsible for all media and public relations, public policy writing, editorial, website, and design activities.

A report by the National Center for Policy Analysis, a conservative think thank, investigated how much Baby Boomers are spending on things like education and clothing and how that’s changed over the past 20 years.

Old Mutual Asset Management, the US-based global asset management business of Old Mutual plc, has agreed to sell five of its US affiliates to their current senior management teams.

Total money market mutual fund assets decreased by $1.38 billion to $2.562 trillion for the week ended Wednesday, October 10, according to the Investment Company Institute.

UMB Financial Corp., a Kansas financial service holding company, has launched the UMB Business Partner Portal, an online tool to help business partners better serve their employer clients.

Investors in U.S. mutual funds pulled money out of U.S. equity funds for the 17th consecutive month as they continued to seek the perceived safety of fixed income funds and other non-equity plays, according Morningstar.

Miami-based investment advisor Thomas J. Herzfeld Advisors has hired asset management and mutual fund industry veteran, Robert Adler as its head of distribution, a newly created position.