Hedge funds

Pimco’s high-yield municipal-bond mutual fund is jockeying for the top returns of 2015 after picking winners among pockets of distress.

Vineer Bhansali is leaving Pimco, where he was a managing director specializing in quantitative portfolios, to start his own investment firm.

"ETFs are just a better mousetrap than a mutual fund,” Kapito said Tuesday at an investment conference sponsored by Goldman Sachs.

If the SEC's newest rules are enacted, open-end mutual funds and ETFs that invest in municipal securities are likely to become more risk-averse in a variety of ways that have implications for issuers and other investors that perhaps have not been fully considered by executives.

BlackRock is winding down a global macro hedge fund after losses and investor redemptions eroded assets.

Professional equity managers -- of mutual funds, pension funds or hedge funds -- use a number of methods to try to beat their benchmark index.