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Top Portfolio Products: New ETFs Reflect Social Media Buzz, Catholic Values

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New products and changes introduced over the last week include ETFs focused on social media, large-cap stocks, Catholic values and consumer retail shares. In addition, Catalyst Funds converted a hedge fund to a mutual fund, Morningstar Office added Redtail functionality, Wilshire launched a wealth management platform and other new developments of interest to advisors were announced.

Here are the latest ones:

1) Sprott Launches Social Media Insights ETF

Sprott Asset Management LP launched the Sprott BUZZ Social Media Insights ETF (BUZ), designed to deliver exposure to the BUZZ Social Media Insights Index.

The BUZZ Index seeks to identify attractive U.S. stocks that rank highest in terms of bullish investor perception from insights derived from the social media collective. Each month, the BUZZ Index identifies the 100 most-mentioned stocks and ranks them using a proprietary analytics model; the 25 stocks with the most bullish insight scores are then selected for inclusion in the index.

2) Guggenheim Adds Large-Cap ETF

Guggenheim Investments launched the Guggenheim Large Cap Optimized Diversification ETF (OPD), which tracks the Wilshire Large Cap Optimized Diversification Index that is designed to provide optimized diversification in the U.S. large-cap equity market.

Subject to sector and stock level constraints, the index’s methodology selects stocks that tend to have lower correlation to the cap-weighted Wilshire Large Cap Index and weights them by correlation and risk to optimize diversification. The ETF’s underlying index is rebalanced quarterly.

3) Global X Adds Catholic Values ETF

Global X Funds added the Global X S&P 500 Catholic Values Index ETF (CATH), which includes S&P 500 companies whose business practices adhere to the Socially Responsible Investment Guidelines outlined by the United States Conference of Catholic Bishops and excludes those that do not.

4) Magoon Adds Online Retail/Consumer Discretionary ETF

Christian Magoon launched the Amplify Online Retail ETF (IBUY), which seeks to replicate the price and yield performance of the EQM Online Retail Index (IBUYXT). The rules-based index is made up of a diverse group of companies that generate at least 70% of their revenue from online and virtual retail sales.

IBUY tracks a global index of companies that generate at least 70% of their revenue from online retail transactions that fall into three categories: traditional online retail; online travel; and online marketplace. Index constituents are diversified across various market capitalizations, countries and industries. The index has a maximum of 25% exposure to non-U.S. stocks and uses a modified equal weighting methodology.

5) Catalyst Funds Converts Hedge Fund to Mutual Fund

Catalyst Funds converted a hedge fund to a mutual fund. The Catalyst/Millburn Hedge Strategy Fund (MBXIX) portfolio is comprised of two distinct components: active long/short futures and FX, and strategic equity exposure.

MBXIX trades a portfolio of global equity, currency and interest rate instruments, as well as futures contracts on commodities in the energy, metal and agricultural sectors. It uses a 100% systematic strategy and has the potential to invest in over 125 markets. MBXIX is subadvised by Millburn Ridgefield and maintains the same investment management team as its hedge fund predecessor.

 6) Morningstar Office Adds Redtail Functionality

Morningstar Inc. announced the addition of Redtail Technology’s customer relationship management (CRM) capabilities into Morningstar Office.

The CRM integration allows advisors to transfer data between firms to reduce redundant entry and provide up-to-date client and account data within the Redtail CRM interface. Redtail will become an integral part of Morningstar Office, along with account aggregation, back-office services, and rebalancing capabilities.

7) Wilshire Launches Wealth Management Platform

Wilshire Funds Management launched the Wilshire Wealth Management Platform, an end-to-end advisor platform that leverages technology from financial solutions provider Vestmark.

The Wilshire Wealth Management Platform is designed to help streamline portfolio management with an integrated, scalable, institutional platform, and combines manager research and selection with a full range of tools for proposal generation, portfolio construction and ongoing management, tax overlay, and customized reporting.

8) Northfield Adds Wealth Planning Tool

Northfield Information Services launched WealthBalancer, a personal-wealth planning solution for investment advisors that forms a “life balance sheet” that charts the investor’s current and future financial circumstances.

The solution is divided into two modules: the expert module, controlled by the financial firm’s headquarters, and the advisor module, made specifically for client-facing professionals. The former has control of all the financial assumptions and investment attributes the firm uses for competitive advantage and quality control for legal compliance, while the latter is available in multiple identical deployments for iOS, Android, web browsers and Windows. Its analytical output is formatted in presentation-quality reports and graphics that can include firm branding and the names of both the investment professional and the client.

9) EBS BrokerTec Adds Instrument

EBS BrokerTec added a new nondeliverable forward (NDF) instrument, one month against the fix, to be called TOD/TOM (today/tomorrow).

The TOD/TOM product is a complementary instrument to the one-month outright trading instrument and provides automated straight-through processing, trade auditing processes and prescreened credit. In the first phase of the launch customers will initially be able to trade off-SEF (swap execution facility) instruments across Asian NDFs. On-SEF instruments and Latin American NDFs will be offered in subsequent months.

10) VMS, ERS, URPC Unveil Strategic Partnership

Vertical Management Systems (VMS), Envestnet | Retirement Solutions (ERS) and United Retirement Plan Consultants (URPC) announced a strategic partnership designed to help financial advisors, retirement plan sponsors and participants navigate new Department of Labor conflict-of-interest regulations and also streamline fiduciary, recordkeeping and compliance services on one scalable platform.

The integration of these services on VMS’s Retirement Revolution platform provides a retirement plan solution that offers plan design and setup, full recordkeeping and administration and fiduciary protection that specifically addresses the new DOL rules.

11) Jefferson National Launches TPIA Directory

Jefferson National launched an online directory of third-party investment advisors for RIAs and fee-based advisors.

The directory provides a resource for advisors managing tax-deferred assets inside Jefferson National’s investment-only variable annuity Monument Advisor. . Currently the directory includes 21 managers offering 112 proprietary strategies consisting of strategic, dynamic and tactical management styles, from allocation to sector rotation, fixed income to alternatives. These TPIAs manage approximately $10.3 billion collectively.

Read the April 18 Portfolio Products Roundup at ThinkAdvisor.


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