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Portfolio > Alternative Investments > Real Estate

Top Portfolio Products: New Bond, Macro and Real Estate Funds

By Marlene Y. Satter

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New products and changes introduced over the last week include two bond funds from American Funds; a macro fund from Franklin Templeton and K2 Advisors; and a fund that will invest in apartment properties from CAPFUNDR and Hamilton Real Estate Capital.

Also, Deutsche Asset Management lowered the expense ratios on its China ETF suite; BMO Global Asset Management expanded distribution of its stable value fund; and Apex Clearing announced it will offer Vanare’s digital advice platform.

Here are the latest developments of interest to advisors:

1) American Funds Adds Two Bond Funds

American Funds launched the American Funds Corporate Bond Fund (BFCAX) and the American Funds Emerging Markets Bond Fund (EBNAX).

BFCAX invests at least 80% of its assets in corporate bonds and exclusively in investment-grade securities. The fund, which is benchmarked against the Barclay’s U.S. Corporate Investment Grade Bond Index, may invest in debt securities issued by non-U.S. companies including issuers in developing countries. All securities are denominated in U.S. dollars and the net expense ratio is 0.95%.

EBNAX invests at least 80% of its assets in securities of emerging markets issuers, including sovereign debt and debt of companies located in emerging markets or with substantial business in those markets. The fund can invest in debt securities with a wide range of maturities of any quality, which gives it the ability to pursue a high level of total return over the long term. In addition all of its securities can be denominated in currencies other than the U.S. dollar. Its net expense ratio is 1.08%.

2) Franklin Templeton, K2 Launch Global Macro Fund

Franklin Templeton Investments in conjunction with K2 Advisors launched the Franklin K2 Global Macro Opportunities Fund (FKMZX), a multi-manager fund that invests in a variety of global macro strategies subadvised by hedge strategy managers.

Its highly flexible mandates go beyond long-only approaches, targeting opportunities presented by emerging trends and themes in global markets. The fund has a net expense ratio of 2.0%.

3) CAPFUNDR, Hamilton Real Estate Capital Launch Multifamily Fund

CAPFUNDR and Hamilton Real Estate Capital introduced the CAPFUNDR Hamilton Multifamily Fund, which invests in apartment properties in historically stable Midwestern markets that benefit from high current yields.

Hamilton will be primarily responsible for acquiring and managing the properties, and CAPFUNDR will be responsible for raising capital and reporting to investors. CAPFUNDR will also provide oversight of the fund’s investment activities on behalf of the fund’s investors.

4) Deutsche Asset Management Lowers Expense Ratio Across Suite

Deutsche Asset Management lowered the expense ratio across its China ETF suite.

The expense ratio for the Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (ASHR) was been reduced from 0.80% to 0.65%; for the Deutsche X-trackers CSI 300 China A-Shares Hedged Equity ETF (ASHX) from 0.85% to 0.70%; and for the Deutsche X-trackers Harvest CSI 500 China-A Shares Small Cap ETF (ASHS) from 0.80% to 0.65%. In addition expenses for the Deutsche X-trackers Harvest CSI 500 China-A Shares Small Cap ETF (CN)  was cut from 0.71% to 0.63%.

5) BMO Global Asset Management Expands Distribution of Fund

BMO Global Asset Management expanded the distribution of its newly renamed BMO Stable Value Fund (formerly the BMO Employee Benefit Stable Principal Fund), which seeks to maintain the safety of principal while generating income that generally exceeds that of money market funds.

The fund, managed by Don McConnell and Katie DellaMaria, is now available to outside recordkeepers and other 401(k) providers, and accessible through the National Securities Clearing Corporation (NSCC). Previously, the fund was only available to plan sponsors with an existing relationship with BMO Harris Bank N.A.

6) Apex Clearing to Offer Vanare’s Digital Advice Platform

Apex Clearing Corporation will begin offering its broker-dealer and registered investment advisor clients the ability to digitally manage investments using Vanare’s digital advice platform.

The services of Vanare’s wealth management technology platform, with its customizable white-labeled robo-advisor, are expected to be available to Apex clients in the fourth quarter of 2016.

Read the August 1 Portfolio Products Roundup at ThinkAdvisor.

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