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Portfolio > Mutual Funds

Top Portfolio Products: Calvert Adds Funds; ValueLine Adds Shares

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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.

AlphaSimplex is an investment management firm specializing in researching and analyzing market behaviors and risk; Julex Capital Management is an investment advisory firm specializing in creating income-oriented solutions for institutions and individuals; and Model Capital Management is an independent investment management firm providing portfolio management, model signal and investment research services to institutional and individual investors.

8) Genworth Adds Online LTCI Resource

Genworth launched an online resource for long-term care insurance for advisors.

The LTC Source offers educational training, sales and marketing information for financial professionals of all experience levels and includes Solution Selector, a tool that helps financial professionals determine possible LTC funding solutions by answering a few simple questions about clients’ needs.

9) Schwab Charitable Cuts Fees, Adds Enhancements

Schwab Charitable reduced fees and added enhancements to make it easier for donors to contribute complex assets and give internationally.

It eliminated basic consulting and administrative fees for the most common types of complex assets donated to charity.

For complex gifts, it established an acceptance team that coordinates the sale of assets, deposits cash proceeds into a donor’s account and provides contribution receipts for tax filing purposes in a consolidated report. Ongoing complex accounts may also receive dedicated support to assist with contributions, investing and granting.

Donors giving internationally through donor-advised fund accounts can now use the Global Giving Program. They can recommend grants to U.S. charities doing international work or support international charities directly. The Schwab program provides hands-on support with due diligence review of proposed foreign grant recipients and granting directly or through designated intermediary providers at specially negotiated rates. For grants made directly to foreign charities, Schwab Charitable works with charities and donors to meet expenditure reporting responsibilities and/or equivalency determination requirements.

10) “Women Investing Now” Wealth Management Platform Launches

Financial professional Stacy Marcus launched the “Women Investing Now” or WIN wealth management platform.

WIN integrates personalized financial advice, a personal financial dashboard, financial decision-making simulation tools, curated content and events, and both digital (robo) and custom portfolio investment management on one platform.

11) Questar Capital Adds RetireUp

Questar Capital added the retirement income planning tool RetireUp to the technology it provides to representatives.

RetireUp is a computer-based modeling system that allows financial professionals to present a more complete visual presentation of their clients’ retirement income strategies using various financial products.

12) RiXtrema Integrates with Morningstar Office

RiXtrema has integrated with Morningstar Office, allowing dual clients of RiXtrema and Morningstar to pull any account or portfolio directly into Portfolio Crash Testing without any manual document or data uploading.

RiXtrema’s Portfolio Crash Testing 2.0 monitors the risk in portfolios as well as the client’s risk tolerance and will alert the advisor if risk in the account is diverging from the risk tolerance profile.

13) Vanare | NestEgg Adds Customizable Robo API

Vanare | NestEgg announced a customizable robo application programming interface, RESTful.

The RESTful API is a fully customizable white-label robo advisor API that allows financial services firms the ability to create their own user interface (UI) so their clients have a seamless experience using the firm’s existing website.

Read the October 30 Portfolio Products Roundup at ThinkAdvisor.


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