Portfolio

New York Life's Investments Group, which offers retail mutual funds through its MainStay Funds family, set new sales records for MainStay mutual funds.

Nervous money, spooked off last year by banking analyst Meredith Whitney's prediction on "60 Minutes" of widespread defaults, is now flocking back to the tax-free debt of cities, states and other public entities such as colleges and toll bridges.

Invesco says shareholders of the Invesco High Income Municipal Fund and the Invesco U.S. Mid Cap Value Fund have approved a plan to merge those funds into the Invesco Van Kampen High Yield Municipal Fund and Invesco Van Kampen American Value Fund, respectively.

The first criminal trial involving muni market executives accused of bid-rigging is scheduled to begin next week in a federal court in New York City, unless they enter into plea agreements.

It’s almost a done deal.

Chicken Little was wrong about municipal bonds and the funds that invest in them.

The Dow Jones Industrial Average fell another 130.55 points Monday to close at 12,929.59 while the Nasdaq and S&P 500 lost 33.42 points and 15.88 points, respectively.

New York-based Fred Alger Management, Inc. today launched a new interactive timeline, dubbed "Three Leaders, One Vision," on the firm’s website detailing the history of the firm’s leadership.

New York Life Investments today said it achieved company records in both gross and net sales in 2011.

Financial advisors are increasingly turning towards alternative investments and tactical asset allocations in response to market turbulence, according to a survey released by Curian Capital.