New products and changes introduced over the last week include an alternative mutual fund from Context Asset Management, an MLP bond index from Solactive AG, and an additional index allocation from Allianz Life on its Allianz Life Pro+ policy.
In addition, FNEX and PENSCO announced a partnership allowing access to FNEX.com on the PENSCO platform, and SunGard launched WealthStation PlanAdvisor.
Here are the latest developments of interest to advisors:
1) Context Asset Management Launches Alternative Mutual Fund
Context Asset Management has launched the Context Alternative Strategies Fund (CALTX), a multimanager, multistrategy fund that seeks to deliver capital appreciation by emphasizing absolute returns and low correlation to the broader U.S. equity and bond markets. The fund is managed by Andy Dudley and Jason Myers.
CALTX uses various investment strategies and allocates assets among multiple subadvisors who employ a variety of investment strategies in pursuit of returns consistent with capital appreciation. Context selects and oversees the subadvisors, who each manage separate segments of CALTX’s portfolio using distinct investment styles. The investment strategies allow Context and the subadvisors the flexibility to use leverage or short-sale positions to take advantage of perceived inefficiencies across the global capital markets in order to pursue their objectives.
2) Solactive AG Launches MLP Bond Index
Solactive AG has announced the launch of the Solactive MLP Bond Index, which is a rules-based, market-value-weighted index designed to track the master limited partnership (MLP) bond market. The index is intended to track all bonds that have been issued by MLPs and is a total return index, with coupon payments being reinvested.
To be included in the index, bonds must have at least $250 million outstanding and a remaining time to maturity of at least 12 months. The weighting is capped at 20% per issuer. Rebalanced quarterly, the index had a base value of 100 as of Jan. 23.
3) Allianz Life Announces Index Allocation