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Top Portfolio Products: Context Asset Management Rolls Out Alt Mutual Fund

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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 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

Allianz Life Insurance Company of North America has announced that a new index allocation is now available on the Allianz Life Pro+ Fixed Index Universal Life (FIUL) Insurance Policy. The Barclays US Dynamic Balance Index is currently available exclusively to Allianz Life until 2015.

The Barclays US Dynamic Balance Index provides balance by shifting weight daily between the S&P 500 Index and the Barclays Capital U.S. Aggregate Bond Index based on realized market volatility. The index is available on Allianz Life Pro+ policies in 46 states and provides uncapped indexed interest potential with two participation rate choices. Clients can choose to have a 140% participation rate with a 0% floor or a 100% participation rate with a 2% floor.

4) FNEX Partners with PENSCO 

FNEX and PENSCO Trust Co. have announced an agreement that will allow PENSCO clients and their advisors to access through their PENSCO accounts. Through this partnership, investors and financial advisors who custody with PENSCO will be able to source, review and invest in a variety of alternative investments. provides accredited investors, investment advisors, family offices and institutions access to private investment opportunities offered by investment banks and funds across the U.S.

5) SunGard Launches WealthStation PlanAdvisor

SunGard has announced the launch of WealthStation PlanAdvisor, which automates the investment process to help advisors and their co-fiduciaries collaboratively design investment lineups and conduct fiduciary reviews while maintaining compliance with regulations such as 404(a)(5) and 408(b)(2).

WealthStation PlanAdvisor, an enhanced version of the former WealthStation FundSource solution, consolidates fund, plan and platform data onto a single platform. It provides flexible reporting and automatic fund reviews while flagging investment policy statement (IPS) exceptions, recommending replacement funds automatically and documenting discretionary approvals for future review and audit.

Read the Mar. 22 Portfolio Products Roundup at ThinkAdvisor.


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