Portfolio

Novato, Calif.-based Hennessy Funds moved closer to finalizing its acquisition of FBR Funds, and transferring the assets into various Hennessy funds.

The tax-exempt market ended on a slow note after a week that was described as mostly firmer by traders.

Advisors want more control over clients' managed accounts, and such accounts increasingly tilt towards mutual funds. Judging from recent results, though, the combination of these trends might not be good news for clients.

Risk management and regulatory reporting.

The Dow Jones Industrial Average gained 14.64 points Friday to close at 13,306.64 while the Nasdaq and S&P 500 added 0.61 points and 5.80 points, respectively.

Franklin Templeton has expanded its defined contribution investment only team this year with the addition of four wholesalers.

As the asset management industry evolves, innovative product options are being introduced to compliment traditional pooled vehicles.

Multi-manager shop Virtus Investment Partners has added Rampart Investment Management, which specializes in customized options strategies for institutional and high-net-worth clients, as a wholly owned affiliate of Virtus.

Now you can say it is so: Abigail Johnson last month was named president of Fidelity Investments and, effectively, successor to her father, Edward "Ned" Johnson, chief executive officer of Fidelity Investments.

Herb Morgan has a good barometer to tell how hot the market for exchange-traded funds is getting.