New products and changes introduced over the last week include Allianz Life of New York’s launching of an index variable annuity and American Century Investments’ rollout of three fixed-income funds.
In addition, ASI has introduced a portfolio rebalancing solution to Scottrade Advisor Services; Russell updated an economic indicators dashboard; and FeeX announced the latest expansion of its fee-finding tools.
Here are the latest developments of interest to advisors:
American Century Investments Launches Three Fixed-Income Funds
American Century Investments has launched three fixed-income funds: American Century Emerging Markets Debt, American Century Strategic Income and American Century Short Duration Strategic Income.
Emerging Markets Debt is managed by senior portfolio managers Marge’ Karner, John Lovito, Brian Howell and Kevin Akioka. Strategic Income and Short Duration Strategic Income are managed by senior portfolio managers Akioka, Jeffrey Houston, Robert Gahagan, Howell and Karner.
Emerging Markets Debt is a total return fund whose investment strategy is to incorporate emerging markets debt with a global currency overlay. The team will invest at least 80% of the portfolio in fixed income and floating rate securities that are economically tied to emerging market countries’ markets. The fund’s benchmark is the JP Morgan CEMBI Broad Diversified Index.
Strategic Income is an income fund whose investment strategy employs tactical sector management. The investment team uses an opportunistic sector approach and an income-focused investment process that offers broad multisector exposure within its securities. The fund has a 50% maximum single sector exposure limit. Duration will be within two years of the fund’s benchmark, which is the Barclays U.S. Aggregate Bond Index.
Short Duration Strategic Income is an income fund whose investment strategy employs tactical sector management. The investment team uses an opportunistic sector approach and an income-focused investment process that offers clients broad multi-sector exposure. The fund has a 50% maximum single sector exposure limit. Its shorter duration may help mitigate interest rate risk. Duration will be within two years of the fund’s benchmark, which is the Barclays U.S. Government/Credit 1–3 Year Index.
Allianz Launches Index Variable Annuity
Allianz Life Insurance Company of New York announced the launch of the Allianz Index Advantage New York Variable Annuity, an index variable annuity (IVA) that combines traditional variable options with an index strategy.
A key feature of the IVA is the index performance strategy. This crediting method offers customers a level of asset protection for the principal investment while maintaining the potential for higher performance. The index performance strategy also gives accumulation-focused customers the flexibility to pursue the accumulation strategy that best suits them each year whether there is positive or negative performance.
DSM Capital Partners Launches SICAV Global Growth Fund for Overseas Investors
DSM Capital Partners LLC, a global investment management firm with $5.6 billion in AUM, has launched a SICAV Global Growth Fund for overseas investors, designed to mirror its Global Growth Strategy. The fund had more than $600 million in assets at the end of second-quarter 2014.
The fund is managed by Co-Managing Partner Daniel Strickberger and a team of nine senior analyst/portfolio managers.
The DSM Capital investment team uses a bottom-up, idea-driven growth style with a long-term investment horizon, coupled with a distinct valuation discipline. The team seeks to identify companies that have growing businesses, impressive fundamentals, above-average profitability, and successful managements. Such companies typically have 10% or better historical revenue and earnings growth, generate free cash flow, and have attractive financial returns that are stable or rising. The investment team’s macro view of the world informs both company choices and position sizes. Scottrade Advisor Services Adds ASI Portfolio Rebalancing Solution
Scottrade Advisor Services has added Advisor Software’s ASI Portfolio Rebalancing Solution to its custodial platform.
The program’s rules-based workflow allows advisors to rebalance single and multiple accounts, as well as entire households, across security types by setting constraints at both the firm and individual account levels. Advisors can also receive customized reports comparing pre- and post-rebalanced accounts after each rebalancing session.
Russell Updates Economic Indicators Dashboard
Russell has announced changes to its economic indicators dashboard to reflect changes in the U.S. economy.
The updates include a shift in indicators that replaces residual mortgage delinquencies with the S&P/Case Shiller Home Price Index, and corporate debt with the 10-yr U.S. Treasury Yield; a change in basis for some indicators, including the employment growth indicator, the consumer spending indicator and the inflation indicator; daily updates; and a new definition for “typical range.”
FeeX Announces Expanded Fee-Finding Tools
FeeX, a service that finds and reduces hidden fees within investment accounts, has announced that it now finds fees in IRAs and all 401(k), 403(b), 457, brokerage and similar investment accounts.
In addition to finding eight types of fees, including expense ratios on mutual funds and ETFs, advisor fees, asset-based fees, such as wrap fees, up-front sales load fees, back-end redemption fees, account maintenance fees, wire transfer fees and transaction fees, FeeX also shows what can be done to reduce, or sometimes eliminate, these fees