Portfolio

Many market participants may be on vacation, but there's still interest in municipal bond mutual funds. Flows to muni bond funds rose on the week, keeping their hot streak alive.

The Dow Jones Industrial Average tumbled 106.77 points Thursday to close at 13,000.71 while the Nasdaq and S&P 500 shed 32.48 points and 11.01 points, respectively.

Scout Investments has expanded its mutual fund lineup with the launch of the Scout Low Duration Bond Fund (SCLDX).

Total U.S. mutual fund assets increased by $161.5 billion to $12.338 trillion in July, according to the Investment Company Institute’s official survey of the mutual fund industry.

For bank reps looking to advance their careers, there's no better news than a promotion or a job offer that's too good to refuse. Here's a sampling of bank reps who were recently promoted or moved to new organizations to assume roles of greater responsibility.

Thrivent Asset Management has launched the Thrivent Partner Emerging Markets Equity Fund, which will be subadvised by DuPont Capital Management Corporation.

New York-based Drexel Hamilton Investment Partners, the investment adviser for each of Drexel Hamilton 8IP Asia Pacific Equity Fund and the Drexel Hamilton FOUR European Equity Fund, this week decided to liquidate the two mutual funds.

Investment advisory shop Arnerich Massena has promoted Scott Dunbar to managing director of advisory services.

Participation in 529 college savings plans has leveled off after years of growth, according to a Fidelity survey. Perhaps not coincidentally, the study found that most advisors do not "proactively suggest the 529 plan" to parents with youngsters.

The former CFO and Treasurer of Legg Mason's fixed income funds has been barred from the securities industry for altering books and records of one of the funds.