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Portfolio > Portfolio Construction

Top Portfolio Products: New Offerings for Annuities and Impact Investing

By Marlene Y. Satter

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New products and changes introduced over the last week include a floating rate annuity from Security Benefit, expanded sustainable and impact investing options from Green Alpha Advisors, hospital indemnity insurance from Guardian and iCapital Network’s acquisition of Credit Suisse’s HedgeFocus business.

In addition, Informa Investment Solutions redesigned its WealthIQ Book of Business; Riskalyze added an annuities and insurance feature to its RiskAlignment platform; and the Global Impact Investing Network launched IRIS 4.0.

Here are the latest developments of interest to advisors:

1) Security Benefit Adds Floating Rate Annuity

Security Benefit Life Insurance Company launched the RateTrack Annuity, a floating rate annuity designed to automatically respond to a rising interest rate environment.

RateTrack Annuity is a single-premium deferred fixed annuity that offers policyholders a guaranteed fixed interest rate in combination with a floating rate pegged to the 3-month ICE LIBOR USD rate that may increase during the term of the contract. Contract owners receive a guaranteed base rate of interest that is set for the contract’s guarantee period, plus the 3-month ICE LIBOR USD rate (subject to a cap), which resets annually on the contract anniversary date.

2) Green Alpha Expands Sustainable, Impact Investing Options

Green Alpha Advisors expanded its product offering through the merger of Oakland-based Nia Global Solutions investment strategy team into the firm, including Kristin Hull, cofounder of the Nia Global Solutions investment strategy.

The merger provides an expanded product offering that includes separately managed accounts and a mutual fund investment vehicle, managed with investment solutions that address environmental and sustainability issues.

3) Guardian Adds Hospital Indemnity Insurance

The Guardian Life Insurance Company of America launched a supplemental insurance to address the financial impact of high deductibles and other out-of-pocket costs often not covered by traditional insurance. The plan is available to companies with at least two employees and is guaranteed issue; employees can also retain coverage if they leave their employer.

Guardian Hospital Indemnity Insurance pays lump-sum benefits directly to individuals admitted to a hospital for a covered sickness or injury, whether or not charges are covered by their medical plan. Benefits can be used for any purpose, from covering medical copays and deductibles to paying for everyday expenses such as the mortgage, groceries and utilities.

4) iCapital Network Acquires HedgeFocus from Credit Suisse

Financial technology platform iCapital Network entered into a definitive agreement to purchase the HedgeFocus business from Credit Suisse.

The HedgeFocus portfolio contains more than 20 hedge fund access vehicles representing approximately $1.8 billion in assets in a combination of event-driven, multi-strategy, directional, relative value and tactical strategies. With the transfer of assets, iCapital will be responsible for the ongoing administration and servicing of the investments for all existing investors as well as marketing, administration and servicing for new investors subscribing through iCapital.

5) Informa Launches WealthIQ Enhancements

Informa Investing Solutions launched a redesign of its WealthIQ Book of Business, which allows the display of client account information in a more centralized and streamlined portal to allow advisors to better align their investment recommendations with client goals.

The redesign has a streamlined interface and simplified display that allows users to focus on key information and reduces clicks and pop-up screens. Other additions include more responsive technology and an interactive, customizable client account table.

6) Riskalyze Adds Annuities and Insurance Feature

Riskalyze introduced an annuities and insurance feature to its Risk Alignment platform that allows advisors to include both the accumulation and distribution stages of their annuities or insurance policies when assessing whether they align with a client’s “risk number.”

The added feature allows advisors to incorporate 2,125 annuity and insurance products into a client’s full financial picture and helps them properly measure an annuity or life insurance product in the context of the rest of a client’s financial portfolio.

7) GIIN Launches IRIS 4.0

The Global Impact Investing Network (GIIN) has launched IRIS 4.0, an upgraded version of the IRIS catalog of social, environmental and financial performance metrics used by impact investors to measure and manage the performance of their investments.

IRIS 4.0 provides investors with clear instructions and examples that enable consistency in data collection, management and reporting across the market. The updated metric library also features metric additions and improvements to measure the performance of investments in agriculture, education, financial services, housing, community development and land conservation.

Read the March 21 Portfolio Products Roundup at ThinkAdvisor.

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