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
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.