New products and changes introduced over the last week include the reopening of the Perkins Small Cap Value Fund by Janus; an expansion of its ETF OneSource by Schwab; a mutual fund from Fortunatus; and two smart beta funds from ETF Securities.
Also, Columbia Management launched a liquid alternative mutual fund; Advent released the next generation of its Black Diamond wealth management platform; and Croesus selected Quovo as its data solution partner.
Here are the latest developments of interest to advisors:
1) Janus Reopens Perkins Fund
Janus Capital Group, Inc. has announced the reopening of the Perkins Small Cap Value Fund (JNPSX). The fund reopened on January 1. It is managed by Perkins Investment Management and distributed by Janus.
JNPSX is a defensive small-cap value fund that seeks to provide attractive returns over a full market cycle by mitigating losses in down markets while participating in up markets. The managers responsible for the strategy are Robert Perkins, Tom Reynolds, and Justin Tugman.
2) Schwab Expands ETF OneSource
Charles Schwab (SCHW) has announced that it is expanding its ETF OneSource with the addition of 18 ETFs as of Feb. 1. That will bring the total of commission-free ETFs available through the program to 198. Schwab does not have any enrollment requirements or charge early redemption fees for the ETFs in the program.
The ETFs being added are: Direxion iBillionaire Index ETF (IBLN); PowerShares DWA Developed Markets Momentum Portfolio (PIZ); PowerShares DWA Emerging Markets Momentum Portfolio (PIE); PowerShares DWA Momentum Portfolio (PDP); PowerShares DWA SmallCap Momentum Portfolio (DWAS); PowerShares FTSE RAFI Asia Pacific ex-Japan Portfolio (PAF); ProShares Investment Grade—Interest Rate Hedged (IGHG); ProShares Morningstar Alternatives Solution ETF (ALTS); SPDR BofA Merrill Lynch Crossover Corporate Bond ETF (XOVR); SPDR MSCI Mexico Quality Mix ETF (QMEX); SPDR MSCI South Korea Quality Mix ETF (QKOR); SPDR MSCI Taiwan Quality Mix (QTWN); SPDR Russell Small Cap Completeness ETF (RSCO); SPDR MSCI ACWI Low Carbon Target ETF (LOWC); WisdomTree Barclays U.S. Aggregate Bond Zero Duration Fund (AGZD); WisdomTree BofA Merrill Lynch High Yield Bond Zero Duration Fund (HYZD); WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU); and WisdomTree Global ex-U.S. Dividend Growth Fund (DNL).
3) Fortunatus Launches Small-Cap Mutual Fund
Fortunatus Investments has announced the launch of the Fortunatus Protactical New Opportunity Fund (FPOAX).
The fund tracks the Fortunatus Protactical Global Small Cap Index, a custom index based on the company’s proprietary trend signals. Market segments considered for the fund are U.S. small-cap stocks; international developed small-cap stocks; emerging markets small-cap stocks; and defensive positions, including cash and fixed-income investments.
4) ETF Securities Adds Smart Beta Funds