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Top Portfolio Products: Goldman Launches Small/Mid Cap Value Fund

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New products and changes introduced over the last week include the Goldman Sachs Small/Mid Cap Value Fund; the Perritt Low Priced Stock Fund; an expanded advisory role for the advisor of the Vanguard Windsor II Fund; a new version of LPL Financial’s Portfolio Manager; and an integrated platform for Wells Fargo’s health savings accounts and 401(k) services.

In addition, NASDAQ OMX announced expanded availability of some of its global indexes; AdvisorShares announced the launch for its YieldPro ETF; Envestnet launched liquid endowment portfolios; First Trust launched the Dorsey Wright Focus 5 ETF; and Scivantage launched the next generation of its Scivantage Investor platform.

Here are the latest developments of interest to advisors:

1) Goldman Sachs Asset Management Launches Small/Mid Cap Value Fund

Goldman Sachs Asset Management (GSAM) has announced the launch of the Goldman Sachs Small/Mid Cap Value Fund (GMVAX, A shares; GSMVX, I shares). The fund seeks long-term capital appreciation in a portfolio of small- and mid-cap securities that portfolio management believes are undervalued and have potential attractive risk-reward profiles.

The fund aims to actively invest in 125—200 small- and mid-cap stocks across a variety of industries with typical market capitalizations ranging from $2 billion to $6 billion. It is benchmarked to the Russell 2500 Value Index. Fund shares are available not only in A and I shares, but also in C, R and IR shares. A and C shares are available with $1,000 minimum initial investments.

2) Perritt Capital Management Launches Perritt Low Priced Stock Fund

Perritt Capital Management has announced the Perritt Low Priced Stock Fund (PLOWX),which will invest in micro-cap and small-cap stocks priced under $15 when purchased.

Co-portfolio managers are Michael Corbett, the firm’s chief investment officer, and Brian Gillespie.

The firm also announced that George Metrou has been named co-portfolio manager of the Perritt MicroCap Opportunities Fund (PRCGX) and Matt Brackman has been named co-portfolio manager of the Perritt Ultra MicroCap Fund (PREOX). Michael Corbett remains lead manager on both.

3) Vanguard Announces Expanded Role for Fund Advisor

Vanguard has announced new investment advisory arrangements for the Vanguard Windsor II Fund (VWNFX), increasing the percentage of the fund’s assets for which Hotchkis & Wiley Capital Management, LLC is responsible. Hotchkis & Wiley will now manage about 11% of VWNFX’s assets, assuming the roughly 4% of fund assets previously managed by Armstrong Shaw Associates Inc., which is no longer an advisor to the fund.

Barrow, Hanley, Mewhinney & Strauss, LLC continues to manage about 60% of the fund’s assets, Lazard Asset Management LLC about 16%, and Sanders Capital, LLC about 10%. Vanguard Equity Investment Group continues to manage the remainder of the fund’s assets.

4) LPL Financial Announces Release of Upgrades to Portfolio Manager

LPL Financial (LPLA) has announced that a new version of Portfolio Manager has been released.

The new version features redesigned reports; the ability for advisors to personalize branding; the ability to choose views of either time-weighted or dollar-weighted (IRR) calculations; and report frequency scheduling.

5) Wells Fargo Integrates HSA, 401(k) Services Platforms

Wells Fargo has announced that its health savings account (HSA) and 401(k) services platforms have been integrated.

Customers are now able to view both accounts at the same time, allowing a full picture of their retirement and HSA assets for better planning.

6) NASDAQ OMX Global Indexes Available through eVestment

The NASDAQ OMX Group, Inc. has announced that 19 NASDAQ OMX global indexes are now available to clients of eVestment’s suite of analytic solutions for institutional investors.

The available indexes are: NASDAQ Developed Ex North America Index; NASDAQ Developed Ex North America Large Mid Cap Index; NASDAQ Developed Market Index; NASDAQ Developed Large Mid Cap Index; NASDAQ Developed Small Cap Index; NASDAQ Emerging Markets Index; NASDAQ Emerging Large Mid Cap Index; NASDAQ Emerging Small Cap Index; NASDAQ Global Ex US Index; NASDAQ Global Index; NASDAQ Global Large Mid Cap Index; NASDAQ Global Small Cap Index; NASDAQ US Large Cap Index; NASDAQ US Mid Cap Index; NASDAQ US Small Cap Index; NASDAQ US Benchmark Index; NASDAQ US Dividend Achievers Select Index; NASDAQUSBroad Dividend Achievers Index; and the NASDAQ Dividend International Achievers Index.

7) AdvisorShares Announces YieldPro ETF Launch

AdvisorShares has announced the launch of the AdvisorShares YieldPro ETF (YPRO). YPRO, a “fund of funds” multi-asset income strategy, is subadvised by The Elements Group, LLC (TEG) and seeks to provide current income and capital appreciation by investing primarily in other exchange-traded products (ETPs).

YPRO aims to allocate the majority of its portfolio to long and short investments across all sectors of income-producing securities. It will attractive yield and manage volatility through a quantitative approach to risk budgeting, which also includes the use of options to hedge residual equity and interest rate risk as needed.

8) Envestnet PMC Launches Liquid Endowment Portfolios

Envestnet, Inc. announced that Envestnet PMC has launched its liquid endowment portfolios (LEP), a series of multimanager portfolios. The LEP series is part of PMC’s guided portfolios program, a selection of portfolios that combine diverse investment vehicles into one account in a unified managed account (UMA) format, with transparency and no hidden fees.

LEPs consist of a mix of ETFs, mutual funds, separately managed accounts and fund strategist portfolios, and are offered at four asset tiers starting at $35,000. The LEPs are tailored to each asset tier, allowing a broad range of investors access to a roster of managers and index-based investments. LEPs combine strategic asset class allocations, tactical managers and liquid alternative investment strategies in an effort to enhance diversification in portfolios. The liquid alternative allocation is designed to help guard against rising correlations and risk of loss during major market drops.

9) First Trust Launches Dorsey Wright Focus 5 ETF

First Trust announced the launch of the First Trust Dorsey Wright Focus 5 ETF (FV), which seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of the Dorsey Wright Focus Five Index.

The index, created by Dorsey, Wright & Associates (DWA), is designed to provide targeted exposure to the five First Trust sector- and industry-based ETFs identified by DWA’s index methodology to offer the greatest potential to outperform the other ETFs in the selection universe.

10) Scivantage Launches Next Generation of Scivantage Investor Platform

Scivantage has announced the newest version of its Scivantage Investor platform. Built on the firm’s online brokerage solution Scivantage Investment Platform, the new offering allows brokerage firms and banks to deliver a more personalized online investment experience to their clients.

The new platform provides a set of new features for investors to manage their portfolios, access financial research and execute trades via a single application. It is being rolled out in a phased approach.

Read the Mar. 1 Portfolio Products Roundup at ThinkAdvisor.


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