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Top Portfolio Products: FPA Launches Reengineered PlannerSearch Platform

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New products and changes announced over the last week include a reengineered FPA PlannerSearch platform, a long/short fund from AC Alternatives and index changes on two ETFs from Guggenheim Investments. In addition, Allianz Life added enhancements to its fixed indexed universal life insurance and Nasdaq announced 18 new ETFs now trading on its exchanged-traded product platform.

Here are the latest developments of interest to advisors:

1) FPA Launches PlannerSearch

The FPA launched a redesigned and re-engineered FPA PlannerSearch platform, changing the focus from generating new business for planners to driving their visibility across the web. The website provides consumers with educational content while connecting them with planner professionals.

The site, www.PlannerSearch.org, is designed to make it easier for consumers to find planners. Consumers are able to search by zip code, city, state or last name; an advanced search can be performed for areas of specialty, languages spoken, compensation type and other qualifications. 

2) AC Alternatives Adds Long/Short Fund

AC Alternatives, the liquid alternatives brand from American Century Investments, launched the AC Alternatives Long Short Fund (ALEVX, investor shares; ALEJX, institutional; ALEQX, A shares; ALEHX, C shares; ALEWX, R shares; and ALEDX, R6 shares).

The multimanager fund uses an open architecture subadvisor approach; its long/short equity strategies seeks long positions in undervalued equities and short positions in overvalued equities issued by companies across all market caps and geographic locations. It has a total expense ratio of 3.33%.

3) Guggenheim Investments Changes Indexes for Two ETFs

Guggenheim Investments changed the underlying indexes for the Guggenheim Spin-Off ETF (CSD) and Guggenheim Timber ETF (CUT) and changed the names of the ETFs as well to reflect the new indexes. The ticker symbols remain the same.

CSD is now the Guggenheim S&P Spin-Off ETF, reflecting its new index, the S&P U.S. Spin-Off Index; its former index was the Beacon Spin-Off Index. CUT is now the Guggenheim MSCI Global Timber ETF, reflecting the MSCI ACWI IMI Timber Select Capped Index; its former index was the Beacon Global Timber Index.

4) Allianz Life Adds Enhancements to FIUL Policy

Alliance Life Insurance Company of North America added a convertible term rider and a multiplier interest bonus to its Allianz Life Pro+ fixed index universal life insurance policy.

The convertible term rider allows the policyholder to add term insurance to their permanent policy, subject to certain limits, and have the option to convert all or a portion of the term coverage, over time, to permanent coverage. Conversion is available in policy years 2 through 10, without additional underwriting.

The interest bonus uses a multiplier factor to help grow the accumulation potential of the policy. Beginning in year 11, the bonus is calculated based on any interest earned throughout the policy year, and credited annually, with a cap of 1%. The multiplier rate is guaranteed for the life of the policy.

5) Nasdaq Adds, Switches ETFs

Nasdaq officially announced 18 new ETFs finding a home on its exchange-traded product (ETP) platform. All were added in mid-April but announced only in late May. Some were previously included in the Top Portfolio Products roundup, such as Amplify’s online retail ETF (IBUY) and Global X’s Social S&P 500 Catholic Values ETF (CATH).

The others are BlackRock’s iShares Sustainable MSCI Global Impact ETF (MPCT), a socially responsible ETF that invests around energy efficiency, sustainable water, sanitation, nutrition, and education and three ETFs from First Trust that are actively managed by RiverFront Investment Group: the First Trust RiverFront Dynamic Europe ETF (RFEU), First Trust RiverFront Dynamic Asia Pacific ETF (RFAP) and First Trust RiverFront Dynamic Developed International ETF (RFDI).

In addition 12 First Trust ETFs moved from trading on the NYSE to Nasdaq. They are:

  • First Trust Large Cap Core AlphaDEX Fund (FEX)
  • First Trust Large Cap Growth AlphaDEX Fund (FTC)
  • First Trust Large Cap Value AlphaDEX Fund (FTA)
  • First Trust Mid Cap Core AlphaDEX Fund (FNX)
  • First Trust Mid Cap Growth AlphaDEX Fund (FNY)
  • First Trust Mid Cap Value AlphaDEX Fund (FNK)
  • First Trust Small Cap Core AlphaDEX Fund (FYX)
  • First Trust Small Cap Growth AlphaDEX Fund (FYC)
  • First Trust Small Cap Value AlphaDEX Fund (FYT)
  • First Trust Multi Cap Growth AlphaDEX Fund (FAD)
  • First Trust Multi Cap Value AlphaDEX Fund (FAB)
  • First Trust Mega Cap AlphaDEX Fund (FMK)

 A week earlier First Trust Advisors launched on Nasdaq  the First Trust Alternative Absolute Return Strategy ETF (FAAR), which seeks long-term total return by investing primarily in exchange-listed commodity futures contracts  through a wholly-owned subsidiary of the fund.

Read the May 23 Portfolio Products Roundup at ThinkAdvisor.