New products and changes introduced over the last week include a new arbitrage fund from Touchstone Investments and a new program from Commonfund.
In addition, AllianceBernstein added a new share class and revamped the retirement section of its website.
Here are the latest developments of interest to advisors:
1) Touchstone Investments Launches Arbitrage Fund
Touchstone Investments recently announced the launch of the Touchstone Arbitrage Fund (TMARX), which is subadvised by Longfellow Investment Management Co. TMARX seeks to achieve positive returns regardless of market conditions over the long-term. It primarily invests in securities of companies that are involved in publicly announced mergers and other corporate reorganizations that have been defined and disclosed. Non-deal arbitrage and fixed-income complement the fund’s merger arbitrage investments. TMARX will be offered across several share classes.
The fund’s portfolio management team includes Barbara McKenna, who is managing principal and portfolio manager; Alexander Graham; David Stuehr; and John Villela. Collectively, the team brings more than four decades of arbitrage investing experience to Touchstone.
2) Commonfund Launches Multi-Asset Program, Announces New Appointments
On Thursday Commonfund formally announced its multi-asset program, which is designed to increase investment solutions and support for the company’s mid-sized (under $50 million in assets) non-profit clients. The firm also announced three new appointments.