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.
The MacKay Shields Core Plus Bond CIT aims to deliver returns by opportunistically identifying investments in global developed and emerging markets as well as high yield debt securities.
The MacKay Shields Unconstrained Bond CIT employs a flexible investment process that allocates investments across the global fixed income markets.
3) AdvisoryWorld Announces Batch Risk Analysis System
Financial-technology firm AdvisoryWorld says it has developed a process for risk and performance analysis and management for one or many client investment accounts associated with a broker-dealer, bank, insurance broker-dealer, investment advisor, financial planner or other financial institution.
The Batch Risk Analysis System automates the process of assessing multiple risk factors across a financial service company’s entire book of business to help ensure regulatory compliance and avoid liability risk.
It allows the system operator to review/modify the construction and objective of the portfolio; buy or sell positions to reconstruct the portfolio to conform to the client’s risk profile and financial objectives; complete the requisite transactions that have been arranged in accordance with customer instructions; and analyze the client and position data provided by the user to determine if notification of noncompliance is required to be made to the client and their representative so that position modifications may be recommended.