Municipal bond funds

Angst over the Fed’s decision to lower borrowing costs has seeped into the $3.8 trillion market for municipal bonds.

Just five asset managers hold about 80% of the new money added to the municipal-bond market this year.

Defined-maturity funds offer traditional fixed-income interest payments.

Activist investors have taken large stakes in at least 100 of the products so far this year.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

The funds include a wide range of offerings from emerging markets to precious metals, multi-strategy and REITs.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

New actively managed municipal bond ETFs from the firm have attracted $50 million in assets since their inception in October.

Recently, higher interest rates and stock market volatility have undermined gains.

The good times in munis aren’t likely to last as the Fed’s push to boost interest rates will hamper future results, an expert says.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

Data reported by the Investment Company Institute.

Clients may be compelled to sell their shares as nearly 90% of the products have experienced losses this year.

Morningstar’s annual study reveals how investors are catching up to funds by making better-timed trades.

Data reported by the Investment Company Institute.

Even profitable bond managers will have to up their game to remain relevant because in many cases investors have better options.