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Portfolio > Mutual Funds

Top Portfolio Products: Schwab, BlackRock Introduce New Funds

By Marlene Y. Satter

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New products introduced over the last week include index-based target-date funds from Schwab and a bond fund from BlackRock. Also, Russell Investments expanded access to the Russell FX Network.

Here are the latest developments of interest to advisors:

1) Schwab Adds Lower-Cost TDFs

Charles Schwab Investment Management launched Schwab Target Index Funds, a line of index-based target-date mutual funds constructed with Schwab ETFs as underlying investments.

(Related on ThinkAdvisor:Schwab Rolls Out ETF-Based Target-Date Funds)

The funds, available to employer-sponsored retirement plans, have no minimum investment requirements regardless of plan size and an expense ratio of 0.08%. The funds are available to individual investors outside retirement plans at a 0.13% expense ratio and a $100 minimum investment.

2) BlackRock Launches Bond Fund

BlackRock launched the BlackRock Impact Bond Fund (BIIIX), which aims to generate competitive financial returns while investing in measurable social and environmental outcomes.

BIIIX will invest in a portfolio of fixed income assets, including corporate bonds of companies whose policies advance corporate citizenship, high-impact disease research and the reduction of greenhouse gas emissions, as determined by BlackRock. Its expense ratio for institutional shares is 0.45% with a $2 million minimum, according to Morningstar. The minimum is $1,000 for A shares (BIAAX), which carry a 4% load plus a 0.25% 12b-1 fee.

3) Russell Investments Expands Access to RFX Network

Russell Investments made its end-to-end trading solution RFX Network accessible to clients via Eze Software Group’s order management system.

RFX Network, which is an end-to-end trading solution for complex trade lists that offers executable streaming prices, forward points, advanced netting, client-to-client matching and allocation of foreign exchange transactions, now has an expanded real-time connectivity to the global financial community through Eze OMS.

— Read the August 22 Portfolio Products Roundup on ThinkAdvisor.

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