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November 09, 2015 at 01:28 AM
New products and changes introduced over the last week include an expansion of Calvert’s responsible index series, institutional shares from Value Line Funds, a new FTSE Index for Vanguard and crowdfunding platform SEEDRS in the U.S.
Also, Genworth launched an online long-term care insurance resource, Schwab Charitable added enhancements and a new platform aimed at wealth management for women launched.
Here are those latest developments of interest to advisors and more:
1) Calvert Adds Two Responsible Indexes, Mutual Funds
Calvert Investments added two indexes to its responsible index series and two funds to track them. The indexes are the Calvert Developed Markets Ex-U.S. Responsible Index (CALDMI) and the Calvert U.S. Mid Cap Core Responsible Index (CALMID).
Tracking the new indexes are the Calvert Developed Markets Ex-U.S. Responsible Index Fund (CDHAX) and the Calvert U.S. Mid Cap Core Responsible Index Fund (CMJAX).
2) Value Line Adds Institutional Shares
Value Line Funds launched an institutional share class for four of its mutual funds. They are available on most major platforms, including Charles Schwab, Fidelity, Pershing LLC and other national mutual fund platforms and broker-dealers.
The four funds are the Value Line Asset Allocation Fund (VLAIX); the Value Line Income and Growth Fund (VLIIX); the Value Line Larger Companies Focused Fund (VLLIX); and the Value Line Small Cap Opportunities Fund (VLEIX).
3) Vanguard Fund Transitions to Track FTSE Index
Vanguard announced that its Vanguard Emerging Markets Stock Index Fund, including its ETF share class (VWO), has begun tracking a new FTSE transition index as the first phase of a two-phase change to a new target index, the FTSE Emerging Markets All Cap China A Inclusion Index. The transition will occur over approximately 12 months.
In the first phase, the fund tracks the FTSE Emerging Markets All Cap China A Inclusion Transition Index, an interim index that will gradually increase exposure to small-cap stocks and China A-shares while proportionately reducing exposure to other stocks, based on their weightings in the new index. At the conclusion of the second and final phase, the fund will track its new target index, the FTSE Emerging Markets All Cap China A Inclusion Index, a market-cap-weighted index made up of approximately 3,500 common stocks of large-, mid-, and small-cap companies based in emerging markets around the world.
4) SEEDRS to Launch in U.S.
European crowdfunding platform SEEDRS, which focuses solely on equity investments, will begin beta testing its platform in the U.S. after the U.S. Securities and Exchange Commission voted to implement Title III of the JOBS Act.
The beta test will allow U.S. accredited investors to invest in selected campaigns listed on Seedrs, with an official launch expected in early 2016.
5) Lovell Minnick Closes Fund
Private equity firm Lovell Minnick Partners closed Lovell Minnick Equity Partners IV, its fourth institutional buyout fund.
Lovell Minnick Equity Partners IV has deployed capital in three investments to date: insurance consultant J.S. Held; working capital solution provider LSQ Funding; and wholesale insurance brokerage Worldwide Facilities.
6) AdvisorShares ETF Gets New Manager, New Name
The AdvisorShares Sunrise Global Multi-Strategy ETF (MULT) is getting a new portfolio manager along with a new name and trading symbol.
Laif Meidell, president of Reno, Nevada-based American Wealth Management, is the new portfolio manager of the renamed AdvisorShares Market Adaptive Unconstrained Income ETF, which now trades under the ticker symbol MAUI.
7) AssetMark Expands Solution Strategies for Advisors
AssetMark, Inc. added three strategists to those it provides for advisors.
