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Portfolio > Portfolio Construction

Top Portfolio Products: NASDAQ OMX Adds Two ETF Listings

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New products and changes introduced over the last week include an ETF from Calamos and ETNs from Barclays listed by NASDAQ OMX, the adoption of three Cushing funds by MainStay Investments, the introduction of a practice acquisition group by Pensionmark Retirement Group and a fixed target annuity from Guardian.

Also, Franklin Templeton introduced preferred pricing for Canadian investors, HuaAn Asset Management Co. Ltd. launched an ETF in China based on the DAX index and Envestnet completed the acquisition of Klein Decisions Inc.

Here are the latest developments of interest to advisors:

1) NASDAQ OMX Lists Calamos ETF, Barclays ETNs

NASDAQ OMX announced that it has listed the Calamos Focused Growth ETF (CFGE) and Barclays Inverse U.S. Treasury Composite ETNs (TAPR).

CFGE features a portfolio consisting of stocks in which Calamos has the greatest confidence of sustained growth. The portfolio selection process stresses company fundamentals, including a global presence, strong revenue and earnings growth, solid returns on invested capital and lower debt-to-capital levels. The fund also utilizes active management, blending investment themes with fundamental research.

The TAPR ETNs are designed to help investors position for rising U.S. dollar Treasury yields by tracking the Barclays Inverse U.S. Treasury Futures Composite Index, which tracks the sum of the returns of periodically rebalanced synthetic short positions in equal face values of each of the 2-year, 5-year, 10-year, long-bond and ultra-long U.S. Treasury futures contracts.

2) MainStay Adopts Three Cushing Funds

MainStay Investments, a New York Life company, has announced that it has finalized the adoption of three Cushing funds.

The MainStay Cushing MLP Premier Fund (CSHAX) invests primarily in MLPs focused on the midstream energy sector, which generally includes businesses engaged in the transportation and storage of natural resources.

The MainStay Cushing Royalty Energy Income Fund (CURAX) invests primarily in U.S. and Canadian royalty trusts and exploration and production MLPs.

Both CSHAX and CURAX seek current income and capital appreciation utilizing proprietary research to seek to identify investments with the most attractive distribution yields and distribution growth prospects.

The MainStay Cushing Renaissance Advantage Fund (CRZAX) invests thematically in energy, industrial, manufacturing and transportation companies positioned to benefit from increasing U.S. production of crude oil and natural gas and lower relative domestic energy costs.

(One of Cushing’s SMA strategies, the MLP Alpha Total Return Strategy, won Investment Advisor/Envestnet PMC’s SMA Manager of the Year award in the Specialty Category this year. Read the extended profile of Cushing’s Alpha Total Return Strategy, focusing on Cushing’s president, Libby Toudouze.)

3) Guardian Adds Fixed Target Annuity

The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America, has announced the introduction of the Guardian Fixed Target Annuity. This single-premium fixed deferred annuity offers customers the ability to select from multiple guaranteed interest periods and provides flexible renewal and withdrawal options to help generate income for retirement.

The new annuity does not have any market value adjustments on withdrawals made before maturity. In addition, a client will know the end value of his or her investments based on the interest rate applied and the time until maturity.

4) Franklin Templeton Adds Preferred Pricing for Canadian Investors

Franklin Templeton Investments Corp. has announced the introduction of Series M, which offers Canadian investors a new option for high-net-worth pricing in a fee-based model. This new fee-for-service series offers preferred pricing for a selection of mutual funds across a range of asset classes.

Series M allows advisors and investors to build a portfolio from 13 different investment options, covering a variety of asset classes, as well as competitive management fees and a fixed rate administration fee.

6) Pensionmark Retirement Group Introduces Practice Acquisition Group

Pensionmark Retirement Group has introduced its practice acquisition group (PAG), which addresses the needs of retirement-focused advisors who are interested in selling all or a portion of their practice today or in creating a formal intention to buy at a later predefined target date and price.

In addition to practice acquisitions and letters of intent, PAG has also defined strategies for business succession planning and for partial buyouts, where an advisor may want to just transition the retirement or other portion of their practice.

7) HuaAn, STOXX Announce ETF in China Modeled on DAX

HuaAn Asset Management Co. Ltd. and STOXX Limited have announced the HuaAn Germany DAX 30 ETF, which has as its underlying index the German DAX and is listed on the Shanghai Stock Exchange.

The DAX measures the development of the 30 largest and most liquid companies on the German equities market and represents around 80% of the market capitalization authorized in Germany.

7) Envestnet Announces Acquisition of Klein Decisions

Envestnet Retirement Solutions (ERS), a majority-owned subsidiary of Envestnet, Inc., announced that it has completed the acquisition of Klein Decisions Inc.

Klein’s behavioral and financial analysis-based participant advice solutions strengthen ERS’s product and service offerings for retirement advisors.

Read the July 11 Portfolio Products Roundup at ThinkAdvisor.


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