Mutual funds

In the midst of global turmoil, these funds have turned in the best performances over three years.

Chicago-based NextCapital announced a $16 million funding deal in mid-December that includes support from Manulife and AllianceBernstein. It had already found investors in 2014 from Russell Investments and Transamerica Ventures Fund.

Munis produced a 5.8% risk-adjusted return in 2014, more than double the other investments. They also outperformed in 2011 and 2012 as yields -- which move in the opposite direction as price -- fell to the lowest since the 1960s.

A renewed appetite for Irish equities adds another leg to Ireland’s renaissance among international investors, seven years after the financial crash sent them running for the exit.

The Bloomberg Commodity Index, a measure of returns for 22 components, slumped about 25 % in 2015. The gauge is headed for a fifth annual loss, the longest streak since the data begins in 1991.

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.

Avenue Credit Strategies Fund, a high-yield fund run by Marc Lasry’s Avenue Capital Management, put about 45% of its portfolio into cash earlier this week.

State Street said it incorrectly invoiced at least $200 million in asset servicing expenses to clients over a period of 18 years and will compensate customers.

BlackRock’s $114 billion alternatives business, which also includes private equity, infrastructure and funds of hedge funds, is among its most lucrative.