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Top Portfolio Products: CNL and KKR Form Business Development Company

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New products and changes introduced over the last week include a business development company from CNL and KKR, additions to SWIFT’s financial crime compliance portfolio and factor investing strategies from Parametric. 

Also, TIAA-CREF added an index that measures employee retirement readiness and Practical Perspectives released its latest iteration of an annual study on advisors’ use of client-approved materials.

Here are the latest developments of interest to advisors:

1) CNL, KKR Launch Second BDC

CNL Financial Group and KKR announced that the registration statement of Corporate Capital Trust II, a second business development company (BDC) advised by CNL and KKR, has been declared effective by the Securities and Exchange Commission. The BDC is expected to begin operations later this year.

2) SWIFT Beefs Up Financial Crime Compliance Portfolio

SWIFT announced the addition of two new services to its financial crime compliance portfolio beginning in 2016 and the continued expansion of its Know Your Customer (KYC) offering.

The first service to be added next year is sanctions list management, which will enable financial institutions to access, manage and customize multiple sanctions list feeds on a secure, SWIFT-hosted platform.

The second is a payments data quality assurance service; that will help banks evaluate the quality of originator and beneficiary information in the SWIFT messages they send or receive.

3) Parametric Adds Factor Investing Strategies

Parametric Portfolio Associates LLC, a subsidiary of Eaton Vance Corp., has added several proprietary factor-based strategies.

Parametric factor strategies maximize selected factor exposures while reducing unintended factor, sector and security bets. These risk factors include: dividend yield, value, quality, momentum and low volatility, as well as combinations of these factors. An added feature allows for different combinations of customization to be layered on top of factor exposure, such as social screens and active tax management.

4) TIAA-CREF Adds Retirement Readiness Index

TIAA-CREF launched an index that measures the retirement readiness of not-for-profit sector plan participants.

The Retirement Income Index uses data from TIAA-CREF’s Plan Outcome Assessment (POA), a service that enables plan sponsors to analyze and evaluate their plan’s goals, design and investment choices, as well as employee demographics and behaviors. It uses the same basic methodology as the POA to provide employers with information on how well retirement plans are helping employees prepare for retirement.

5) Practical Perspectives Releases Annual Advisor Report

The latest version of Practical Perspectives’ “Advisor Use of Client Approved Materials and Tools—Insights and Opportunities 2015” is now available from the consulting and research firm.

The report examines how advisors use client-approved content and capabilities with investors, especially materials and tools provided by key sources such as product providers and distributors. The analysis reviews the influence these resources have on advisor behavior, the formats of support and enhancements that advisors prefer and which firms offer the most useful client-approved support.

Read the October 9 Portfolio Products Roundup at ThinkAdvisor.


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