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April 20, 2014 at 09:53 AM
New products and changes introduced over the last week include coming MLP ETNs from Barclays and OFI Global Asset Management and three liquid alternative mutual funds from Brinker Capital.
In addition, the Marathon Value Portfolio announced a fee reduction and Anfield Capital Management has been appointed the sole advisor to the Anfield Universal Fixed Income Fund.
Here are the latest developments of interest to advisors:
1) Barclays, OFI Capital Management to Offer MLP ETNs
Barclays Bank PLC and OFI Global Asset Management, which consists of OppenheimerFunds Inc. and certain of its advisory subsidiaries, announced the planned launch of the Barclays OFI SteelPath MLP ETNs. Barclays plans to apply to list the ETNs on the NYSE under the ticker symbol OSMS. If the application is approved, Barclays expects that the ETNs will begin trading on April 24.
The ETNs will be linked to the volume-weighted average price of the Barclays OFI SteelPath Midstream MLP Index, which is designed to track the performance of a basket of direct interests in master limited partnerships (MLPs) and limited liability companies.
2) Brinker Capital Launches Trio of Liquid Alternative Mutual Funds
Brinker Capital has announced the formal launch of three 40-Act liquid alternative mutual funds. The Crystal Strategy Absolute Income Fund (CSTFX) seeks to provide current income and downside protection to conventional equity markets with absolute returns over full market cycles as a secondary objective. The Crystal Strategy Absolute Return Fund (CSRAX) seeks to provide positive returns over full market cycles. The Crystal Strategy Leveraged Alternative Fund (CSLFX) seeks to provide long-term positive absolute return with reduced correlation to conventional equity markets as a secondary objective.
