New products introduced over the last week include a new target volatility portfolio launched by Fidelity Investments and a new emerging-markets local debt portfolio from Invesco PowerShares.
In addition, Prudential Retirement and Wells Fargo teamed up to offer Prudential’s guaranteed lifetime income solution to defined contribution retirement plan participants, and ING added a new investment strategy to its VUL and IRA mutual fund custodial account products.
Here are the latest developments of interest to advisors:
1) Fidelity Investments Launches Target Volatility Portfolio
Fidelity Investments announced Thursday the availability of a target volatility strategy, the Fidelity VIP Target Volatility Portfolio. Offered exclusively through variable annuity and variable life insurance products, the portfolio seeks to manage total return volatility within a target range. The lead portfolio manager is Xuehai En, who has been with Fidelity for 19 years; Bob Vick is co-manager; he has been with Fidelity for 24 years.
Fidelity also said that Ohio National Financial Services and Jefferson National are the first insurance companies to package the portfolio in their annuity offerings, ONcore individual and group variable annuities (in New York, NScore variable annuities issued by National Security Life and Annuity Co.) and Jefferson National’s flat-fee variable annuity, Monument Advisori, respectively.
2) Invesco PowerShares Expands Fundamental Fixed-Income Line
Invesco PowerShares Capital Management announced Thursday the launch of the PowerShares Fundamental Emerging Markets Local Debt Portfolio (PFEM). PFEM is designed to provide investors fundamentals-weighted exposure to emerging-market sovereign debt denominated in local currencies. It has an expense ratio of 0.50% and is expected to issue monthly distributions.