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June 15, 2013 at 10:21 AM
New products introduced over the last week include the availability of W.E. Donoghue’s Power Dividend Index Portfolio through Envestnet’s SMA platform and Sharia-compliant portfolios from Accretive Wealth Management.
In addition, Wisdom Tree announced the listing of 12 additional ETFs on the Mexican stock exchange, and RiverPark Funds is closing it’s a short-term high-yield fund to new investors.
Here are the latest developments of interest to advisors:
1) Charles Schwab Lowers Expenses on Two Index Funds
Schwab (SCHW) says it reduced the operating expense ratios (or OERs) for two of its fundamental index mutual funds on Thursday–-the Schwab Fundamental International Small Company Index Fund (SFILX) and the Schwab Fundamental Emerging Markets Large Company Index Fund (SFILX), which now have OERs of 0.49% and 0.50%, respectively.
Previously, the global small-company fund had an expense ratio of 0.55%, while the emerging-markets large-company fund’s expense ratio was 0.61%.
2) W. E. Donoghue Portfolio Available through Envestnet
W. E. Donoghue & Co., Inc. recently announced that its Power Dividend Index Portfolio is now available through Envestnet’s SMA platform.
The portfolio tracks W.E. Donoghue’s Power Dividend Index, which is calculated by Standard and Poor’s Custom Indexes. It isolates the top five dividend yielding stocks from each of the 10 GIC sectors in the SPX 500, equally weights those 50 stocks, rebalances quarterly and provides Donoghue’s tactical overlay for defense.
3) Accretive Wealth Management Announces Sharia-Compliant Portfolios
Accretive Wealth Management, LLC, announced a strategic partnership with Aperio Group that enables it to offer separately managed Sharia-compliant portfolios.
Patrick Geddes, Aperio’s chief investment officer, said, “The separately managed account (SMA) structure also allows taxable investors the opportunity to harvest tax losses that can be used to offset gains elsewhere in the portfolio, improving their overall after-tax return.”
