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A recovering economy has done little to change the bleak retirement that Baby Boomers see in their future.

A group of alternative mutual funds is kicking off its second annual advisor road show today in hopes of educating advisors on the benefits of alternative investing and, ultimately, winning business.

Mutual funds managed $2.5 trillion of the assets held in 401(k), 403(b), and other defined contribution plans at the end of December, up from $2.3 trillion at the end of September. Mutual funds managed 55% of DC plan assets at the end of the fourth quarter.

The usage of defined contribution plans and collective investment trusts is growing quickly, resulting in a big impact on the ways that pension holders invest for the future, according to research released by SEI.

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.

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.

Research finds splintered group of younger Millennials exhibiting different values on several subjects, including a strong sense of entitlement.