Mutual funds

BlackRock’s revenue increased 2.1% to $2.91 billion from the same period last year as the firm brought money into most of its products.

BlackRock is rolling out its first impact-labeled U.S. mutual fund. In the nascent world of impact investing -- backing profitable companies trying to produce social and environmental good -- it is a milestone.

Investors added the most money to municipal bond mutual funds since January as state and local government bond yields fell to the lowest level in five months.

Promoting long-standing tax-managed funds to advisors will first require an educational effort about tax strategies on the part of asset managers.

Bill Gross claims he was wrongfully pushed out as the bond giant’s chief investment officer by a “cabal” of executives seeking a bigger slice of the bonus pool.

Fiduciary proposal opponents suggest that robo advisors may be unregistered investment companies, in violation of both the Investment Company Act of 1940 and SEC regulation.

Reflecting the global ambitions of Asian asset managers, South Korean-based Mirae Asset Management this summer quietly expanded its stateside presence, hiring four wholesalers across the country.

The world’s largest issuers of ETFs are holding talks with stock exchanges and market-makers to avoid a repeat of the issues that plagued ETFs during Aug. 24’s market turmoil, according to five people with direct knowledge of the matter.

John Brynjolfsson, the chief investment officer of Armored Wolf, said he is closing the money management firm to outside investors and converting it into a family office.

Only 10% of ETFs are in positive territory, after market selloffs in the U.S., Europe, and Asia, and a plunge in commodity prices.