New products and changes introduced over the last week include Farmer Mac Notes, launched by Incapital; a partnership between PwC and Salesforce.com that allows wealth managers to use the cloud for numerous functions; the addition of Morningstar to Schwab’s OpenView Gateway; the addition of six global banks to SWIFT’s Know Your Customer registry; and a large-cap fund launched by Touchstone.
Also, NASDAQ OMX announced the listing of a Dorsey Wright ETF; Natixis launched a global tactical asset allocation fund; Market Vectors launched a China ETF; and AdvisoryWorld, FTJ Fund Choice and TD Ameritrade announced a partnering on advisor tools.
Here are the latest developments of interest to advisors:
1) Incapital Launches Farmer Mac Notes Program
Incapital has announced that the firm was chosen to be the lead manager of Farmer Mac Notes, a bond program from the Federal Agricultural Mortgage Corp. (Farmer Mac) designed for individual investors. Incapital is now an active underwriter for all issuing GSEs (Government Sponsored Enterprises), including Fannie Mae, Federal Farm Credit Banks, Federal Home Loan Banks, Freddie Mac and Tennessee Valley Authority.
The Farmer Mac Notes make semiannual payments and mature on July 1, 2024.
2) PwC, Salesforce.com Partner for Cloud Wealth Management
PwC has announced a partnership with Salesforce.com to bring its wealth management solution to the cloud. The wealth management solution is a digital application wrapped in consulting services, built on Sales Cloud and running on Salesforce 1.
It allows wealth managers to access and visualize information about prospects, clients, centers of influence (COIs), advisors and other relationships anytime, anywhere, across any device; create, deliver and track client communications in one central place; track opportunities, financial accounts, notes, tasks, and events; generate and view reports on employee, client and organizational performance; track current pipeline of leads; integrate with mobile devices like tablets or smartphones; and create user restrictions to meet risk/compliance protocols.
3) Morningstar Joins Schwab OpenView Gateway
Schwab Intelligent Technologies has announced that Morningstar Inc. will join its Schwab OpenView Gateway open architecture technology platform.
The integration will make real-time custodial data from Charles Schwab available within Morningstar Office, a scalable, end-to-end practice and portfolio management platform that facilitates advanced research, performance reporting and secure client communications.
4) SWIFT Adds Six Global Banks to Know Your Customer Registry Initiative
SWIFT has announced that six more global banks have signed on to its Know Your Customer (KYC) Registry, a centralized repository that maintains a standardized set of information about banks required for due diligence processes.
Barclays, Deutsche Bank, Erste Group Bank AG, HSBC, ING and Raiffeisen Bank International AG are the latest banks to sign up to the SWIFT-led KYC initiative, bringing the total number of participating banks to 12. These institutions join Bank of America Merrill Lynch, Citi, Commerzbank, J.P.Morgan, Société Générale and Standard Chartered, whose participation in the KYC initiative was announced in March.
5) Touchstone Launches Large-Cap Fund
Touchstone Investments has announced the launch of the Touchstone Large Cap Fund (TLCIX). The fund is subadvised by the London Co.
Stephen Goddard, founder, managing principal and chief investment officer of the London Company, is the lead portfolio manager. The firm seeks for TLCIX financially stable large-cap companies that it believes are consistently generating high returns on unleveraged operating capital, run by shareholder-oriented management, and are trading at a discount to their respective private market values. 6) NASDAQ OMX Announces Dorsey Wright ETF Listing
NASDAQ OMX has announced the launch by First Trust of the First Trust Dorsey Wright International Focus 5 ETF (IFV).
IFV is designed to provide targeted exposure to the five First Trust international ETFs identified by the Dorsey, Wright & Associates index methodology to offer the greatest potential to outperform the other ETFs in the selection universe. First Trust international ETFs provide the universe for the index selection.
7) Natixis Launches Global Tactical Asset Allocation Fund
Natixis Global Asset Management announced the launch of the Seeyond Multi-Asset Allocation Fund (SAFAX), which invests in stocks, bonds and volatility as an asset class. Co-managers of the fund include Frédéric Babu, Frank Trividic, Didier Jauneaux, Stéphanie Bigou, Simon Aninat and Yufeng Xie.
SAFAX offers the potential benefit of greater diversification by integrating equity volatility as an asset class along with traditional asset classes. In the fund, equity volatility can be used to manage risk or to seek returns in different types of environments.
8) Market Vectors Launches China ETF
Market Vectors ETF Trust has launched the Market Vectors ChinaAMC SME-ChiNext ETF (CNXT), a new fund that seeks to provide exposure primarily to China’s market of innovative, nongovernment-owned companies.
Through a partnership with ChinaAMC, the fund will invest directly in China A-shares. CNXT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the SME-ChiNext 100 Index. This index is intended to track the performance of the 100 largest and most liquid stocks listed and trading on the Small and Medium Enterprise (SME) Board and the ChiNext Board of the Shenzhen Stock Exchange (SZSE).
9) AdvisoryWorld, FTJ FundChoice and TD Ameritrade Announce Partnering
AdvisoryWorld, FTJ FundChoice and TD Ameritrade have announced that they are partnering to provide advisors with tools for client proposals.
Tools from AdvisoryWorld, which offers a range of financial tools, and FTJ FundChoice, which provides back-office services, are available on TD Ameritrade’s VEO platform.
Read the July 19 Portfolio Products Roundup at ThinkAdvisor.