Portfolio

The Senate Special Committee on Aging held a hearing Wednesday to examine the risks and potential conflicts of interest inherent in target-date funds.

Franklin Resources reported profits for its fiscal fourth quarter ended Sept. 30 rose 22% to $367.4 million, or $1.60 a share, up from $300.5 million, or $1.28 a share, a year ago. That beat analysts’ expectations of earnings of $1.32 a share.

The percentage of Americans at risk of having to cope with lower living standards in retirement has risen to 51%, seven percentage points higher than the 44% last measured in 2007, the Center for Retirement Research at Boston College found. And the figures would be even higher if they accounted for healthcare and long-term care, the center said.

IndexIQ has launched two new exchange-traded funds designed to hedge against inflation. The IQ CPI Inflation Hedged ETF tracks the eponymously named index and the IQ ARB Global Resources ETF invests in a diversified portfolio of commodity-related equities to solve the problem of other broad-based commodity products tending to be overweight energy.

Fifth Third Bancorp is enjoying growth in its health savings account business after improving its product and expanding its staff.

Barclays Global Investors plans to launch a family of municipal bond exchange-traded funds designed to behave more like munis themselves by liquidating at maturity.

Eighty-four percent of workers who are automatically enrolled in a 401(k) plan stick with the plan, up from 77% in 2007, Charles Schwab found. Participation among all plans rose to 77%, up from 73% in 2007.

Dan Calabria, the former chief executive officer of Templeton Funds, criticizes the industry in a new book called “Mutual Funds Today: Who’s Watching Your Money?,” The Salt Lake Tribune reports.

Asset managers are embracing the UCITS IV directive in Europe, and are turning to master/feeder structures as the number of asset managers and funds decline, KPMG reports.

Bank of America Corp. wants to remind everyone that Merrill Lynch & Co. is more than just a sideshow.