Security Benefit expanded the underlying fund options available within the EliteDesigns suite of variable annuities. The recent additions bring the total number of fund options within the EliteDesigns products to 313.
The nine new funds have been added to both the EliteDesigns and EliteDesigns II variable annuities.
The new funds include eight TOPS funds, five of which are goal-based strategies ranging from conservative to aggressive based on individual risk tolerances, and three of which are goal-based managed risk strategies. The ninth new fund is a rules-based, non-correlating strategy to manage portfolio volatility from Rational Advisors.
The new offerings are TOPS Conservative ETF, TOPS Balanced ETF, TOPS Moderate Growth ETF, TOPS Growth ETF, TOPS Aggressive Growth ETF, TOPS Managed Risk Balanced ETF, TOPS Managed Risk Growth ETF, TOPS Managed Risk Moderate Growth ETF, and Rational Dynamic Momentum VA Fund.
“Properly planning for retirement demands a diverse mix of investments, including passive and active strategies, as well as strategies to manage portfolio volatility,” said David Byrnes, Security Benefit’s president of distribution. “These additions to the EliteDesigns Suite of Variable Annuities give clients more tax-deferred, risk-mitigating investment options as they navigate their way [through retirement].”
The TOPS funds, managed by ValMark Advisers Inc., are funds of exchange-traded funds (ETFs) available in the EliteDesigns’ lineup.
The Rational Dynamic Momentum Fund, managed by Jerry Parker of Chesapeake Capital Corp., employs multiple quantitative trading systems that use different time frames for analyzing and identifying trends and emphasizes capital preservation. The Rational Dynamic momentum fund is available exclusively through the EliteDesigns Suite of Variable Annuities.
Turner Investments Acquires ETF Innovator Elkhorn Capital Group and Plans New Products
Turner Investments Holdings announced that the Elkhorn Funds’ Board of Trustees has approved Turner’s acquisition of Elkhorn Capital Group, a leading innovator of exchange-traded products.
The acquisition is subject only to documentation and is not conditioned on shareholder approval.
Upon the closing of the acquisition, Turner will gain significant product capability, which complements the company’s existing investment processes and the technology platform developed by Veracen.
According to Bob Turner, the CIO and founder of Turner Investments, “we are shifting the firm’s investment focus to uncorrelated returns and more predictable investment processes, more efficient and lower cost product structures utilizing the development capabilities of Elkhorn.”
The acquisition provides Turner with a cohesive team with 25 years of experience in ETFs, unit investment trusts and exchange-traded notes, which will complement Turner’s long history and experience in mutual funds and separately managed accounts.
Ben Fulton, head of Elkhorn, said he is “very excited” about the number of new ETF strategies that can be launched on a combined platform.
Clearbrook Launches ClearShares OCIO ETF
ClearShares LLC recently launched the ClearShares OCIO ETF (OCIO).
An early adopter of the Outsourced Chief Investment Officer (OCIO) model in ETF form, the fund is an ETF of ETFs, offering access to an actively managed, diverse portfolio of passive and active index-based ETFs. It is distributed by Quasar Distributors LLC.
“We are excited to have launched ClearShares OCIO ETF in response to the needs of our investors for an innovative solution that incorporates experienced investment management with the cost advantages, liquidity and transparency of an ETF structure,” Elliott Wislar, CEO of Clearbrook, said in a statement.