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Top Portfolio Products: American Funds, Well Fargo Add New Series, Changes

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New products and changes introduced over the last week include the Portfolio Series of funds from American Funds and Wells Fargo’s announcements regarding its money market fund lineup.

Other product launches include a bond fund and four U.S. dollar funds from Mackenzie; Lincoln Financial Group added a universal life product; CircleBlack announced an Android application, while AccuShares shared news about ETFs.

Also, Wilshire Associates added the Powered by Wilshire index platform; Pershing launched the Subscribe Annuity Analytics Dashboard; Ivy Funds launched an educational program for advisors; and Wells Fargo announced changes to its money market fund lineup.

Here are the latest developments of interest to advisors:

1) American Funds Adds Portfolio Series

American Funds has announced that it has added a set of single-managed funds, the American Funds Insurance Series—Portfolio Series, to its Lincoln American Legacy suite of variable annuities.

The new series is a series of funds-of-funds. There are three managed risk funds: the American Funds Managed Risk Growth Portfolio; the American Funds Managed Risk Global Allocation Portfolio; and the American Funds Managed Risk Growth and Income Portfolio. In addition, there are two traditional funds: the American Funds Global Growth Portfolio and the American Funds Growth and Income Portfolio.

2) Wells Fargo Changes Money Market Fund Lineup

Wells Fargo (WFC) Advantage Funds has announced that its board of trustees has approved changes to its money market funds lineup to conform with regulatory changes from the SEC in July of 2014 pertaining to retail prime and municipal money market funds; institutional prime and municipal money market funds; and government money market funds. These changes will take effect on or before October 14, 2016.

The Wells Fargo Advantage California Municipal Money Market Fund, Wells Fargo Advantage Money Market Fund, Wells Fargo Advantage Municipal Money Market Fund, and Wells Fargo Advantage National Tax-Free Money Market Fund will take steps to qualify as retail money market funds under the new regulations.

The Wells Fargo Advantage Cash Investment Money Market Fund, Wells Fargo Advantage Heritage Money Market Fund and the Wells Fargo Advantage Municipal Cash Management Money Market Fund will be offered as institutional money market funds.

The Wells Fargo Advantage 100% Treasury Money Market Fund, Wells Fargo Advantage Government Money Market Fund and Wells Fargo Advantage Treasury Plus Money Market Fund will continue to be offered as government money market funds.

3) AccuShares Adds Two ETFs

AccuShares Investment Management LLC has announced the launch of two ETFs, the AccuShares Spot Chicago Board Options Exchange, or CBOE, VIX ETF Up Class Shares (VXUP) and Down Class Shares (VXDN). The ETFs track the CBOE Volatility Index (VIX).

With VXUP, investors can seek to capitalize on increases in the VIX, and with VXDN, they can seek to capitalize on decreases in the VIX. In addition, the AccuShares Spot CBOE VIX ETF provides tax reporting through Form 1099s

4) Mackenzie Adds Bond, U.S. Dollar Funds

Toronto-based Mackenzie Investments has announced the addition of the Mackenzie Global Tactical Investment Grade Bond Fund and four U.S. dollar funds: the Mackenzie USD Ultra Short Duration Income Fund, the Mackenzie USD Global Tactical Bond Fund, the Mackenzie USD Global Strategic Income Fund and the Mackenzie USD Convertible Securities Fund.

The Mackenzie Global Tactical Investment Grade Bond Fund aims to generate income by investing primarily in a diversified portfolio of investment-grade fixed income securities issued by companies or governments of any size, anywhere in the world.

The Mackenzie USD Ultra Short Duration Income Fund aims to generate income in U.S. dollars, with an emphasis on capital preservation, by investing primarily in short-term, high quality corporate and government fixed income securities issued in the U.S.

The Mackenzie USD Global Tactical Bond Fund aims to generate income and achieve long-term capital growth in U.S. dollars by investing primarily in a diversified portfolio of fixed income securities issued by companies or governments of any size, anywhere in the world.

The Mackenzie USD Global Strategic Income Fund seeks income and the potential for long-term capital growth in U.S. dollars by investing primarily in fixed income and/or income-oriented equity securities of issuers anywhere in the world, while being primarily exposed to the U.S. dollar.

The Mackenzie USD Convertible Securities Fund seeks to generate long-term capital appreciation and income in U.S. dollars by investing primarily in convertible securities of U.S. companies.

5) Lincoln Financial Adds Indexed Universal Life Product

Lincoln Financial Group has launched the Lincoln WealthAdvantage Indexed Universal Life insurance product.

The WealthAdvantage IUL product offers a death benefit with cash value flexibility for clients seeking protection, tax-advantaged growth potential with opportunities for tax-efficient income for those focused on accumulation and distribution and allows business owners to reposition current assets of the company to purchase life insurance, while maintaining the majority of the premiums paid as a surrenderable liquid asset.

6) CircleBlack Adds Android Application

Financial data aggregation platform CircleBlack has announced the addition of an Android application for advisors and clients.

The app provides actionable intelligence about client portfolios, performance reporting on both assets under management and assets held away, and market share. The cloud-based platform also offers automated updates and push notifications.

7) Wilshire Adds Powered by Wilshire Index Platform

Wilshire Associates has announced the launch of the Powered by Wilshire index platform that allows investment and fund managers to marry their own proprietary index methodology with Wilshire’s brand, index calculation engine and distribution platform

The offering provides an independent third-party-implemented solution that delivers historical index data to support marketing efforts as well as ongoing calculations.

8) Pershing Launches Subscribe Annuity Analytics Dashboard

Pershing has announced the launch of the Subscribe Annuity Analytics Dashboard, an annuity data reporting and presentation tool powered by Albridge Analytics.

The new solution provides Pershing’s clients with a solution for managing annuity sales flows, and more transparency of new and existing business for improved oversight, compliance, and regulatory review.

9) Ivy Funds Adds Educational Program for Advisors

Ivy Funds has announced GenLink, an educational program for advisors that offers a suite of materials featuring research and insights into the personalities, financial outlooks, behavioral patterns and values of each of five generations of clients—traditionalists, baby boomers, GenXers, millennials and generation edgers (or GenZers).

Ivy Funds partnered with leading generational research firm BridgeWorks to develop GenLink and the information about each demographic. GenLink tools include reports; interactive, CE-approved e-learning; short videos; live presentations; infographics; and articles.

Read the May 18 Portfolio Products Roundup at ThinkAdvisor.