Portfolio

Citigroup Inc. plans to raise more than $3 billion for its private-equity and hedge funds, a person familiar with the matter said Friday.

Despite the resistance of small employers, the U.S. Chamber of Commerce and the mutual fund industry in general, legislation to require companies with 10 employees or more to provide employees with a seamless lifetime savings plan through an Automatic IRA, is definitely gaining steam.

The distinction between accumulation and distribution is the key to your clients’ understanding target date funds.

While April’s sales couldn’t compete with March’s rocketing success, quarterly fees buoyed overall performance.

The sovereign debt crisis in Europe is coupling with the general malaise in financial markets to make life easier for tax-free money market funds by boosting key short-term interest rates.

NYSE Technologies on Thursday will introduce a service that displays up-to-the-minute statistics on how fast it delivers details on orders and transactions to customers.

Investor confidence has declined, but concerns over the European economy appear to be easing, a monthly Bank of America Merrill Lynch survey of fund managers found.

Registered investment advisor firms need more capacity to handle client demand for professional financial planning advice. That aligns with the recent trend of wirehouse brokers getting fed up with that channel and considering doing business in the independent channel instead.

Invesco PowerShares plans to launch its second exchange-traded fund devoted to Build America Bonds, highlighting both the proliferation of municipal ETFs and the growing importance of taxable state and local government debt.

The Securities and Exchange Commission is stepping up its enforcement efforts in the municipal securities market for the first time in more than a decade, with a staff of roughly 30 attorneys charged with investigating and trying muni and public pension fund cases.