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November 02, 2014 at 07:40 AM
New products and changes introduced over the last week include an affordable housing preservation fund from TIAA-CREF and Jonathan Rose Companies, as well as two collective investment trusts sponsored by SEI Trust Companies.
Also, IT-provider AdvisoryWorld has announced its batch risk analysis system.
Here are the latest developments of interest to advisors:
1) TIAA-CREF, Jonathan Rose Launch Fund
TIAA-CREF and the Jonathan Rose Companies have announced the rolling out of the Rose Affordable Housing Preservation Fund LLC, seeded by TIAA-CREF and Jonathan Rose Companies to acquire affordable and mixed-income multifamily housing in high-demand markets across the U.S.
The fund, which will be managed by Jonathan Rose Companies, is intended to improve and “green” the assets through high-impact/low-cost energy retrofits as well as hands-on asset management that will reduce/control expenses and enhance tenant quality of life. It will focus on the Washington, D.C. to Boston corridor, Chicago, Denver, Los Angeles, San Francisco, Portland and Seattle markets. The goal is to combine solid, risk-adjusted return potential with an integrated social and environmental mission.
2) MacKay Shields to Advise Two SEI CITs
MacKay Shields LLC has announced that it will act as advisor to two SEI Trust Company sponsored collective investment trusts (CITs), thus providing new investment opportunities for plan sponsors in the U.S. retirement market.
