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June 06, 2016 at 08:24 PM
New products and changes introduced over the last week include a bond ETF from State Street Global Advisors, a preferred stock ETF from Elkhorn and an expanded defined contribution retirement from J.P. Morgan
In addition, American Funds launched an interactive target-date fund evaluator; Fidelity launched a brokerage app; LaSalle St. Investment Advisors introduced an asset allocation platform; and Hartford Funds and Schroders formed a strategic relationship.
Here are the latest developments of interest to advisors:
1) State Street Global Advisors Adds ETF
State Street Global Advisors launched the SPDR Dorsey Wright Fixed Income Allocation ETF (DWFI), a fund of funds. DWFI tracks the performance of the Dorsey Wright Fixed Income Allocation Index, designed to target SPDR fixed-income ETFs that offer the greatest potential to outperform other SPDR fixed-income ETFs included in the index’s selection universe. DWFI’s net and gross expense ratio is 0.60%.
2) Elkhorn Launches Preferred ETF
Elkhorn Investments, LLC added the Elkhorn S&P High Quality Preferred ETF (EPRF), which tracks the S&P U.S. High Quality Preferred Stock Index, comprised of only fixed rate investment grade securities, overweights cumulative versus noncumulative preferreds. EPRF’s index yield is 5.75% and its expense ratio is 0.47%.
3) LaSalle St. Investment Advisors Introduces New Asset Allocation Platform
LaSalle St. Investment Advisors, LLC. (LSIA), an RIA outside of Chicago with over $8 billion in assets under management, announced a partnership with California-based Sortino Investment Analytics (SIA) to offer a new asset allocation platform through its Salt Creek Investors advisory network.
The platform will incorporate advancements in financial analysis, performance measures and quantitative methods developed over the past 60 years, including a more stringent and accurate methodology to analyze data and evaluate fund manager performance.
“It’s the only platform of its kind that looks at monthly, not quarterly results and factors in thousands of return scenarios over several years’ time,” said SIA President Jim Kaffen. The methodology will also identify the style blend of the manager and incorporate that into its evaluation.
Mark Contey, LaSalle St.’s Senior Vice President of Business Development, says the “client friendly platform” provides advisors “a solution to the new Department of Labor (DOL) rules that begin to take effect in early 2017.”
4) J.P. Morgan Asset Management Expands Retirement Offering
