T. Rowe Price Group launched the T. Rowe Price Multi-Strategy Total Return Fund. The fund seeks to diversify investment risk for clients by combining six internally managed liquid alternative strategies to provide different sources of alpha in one multi-strategy approach whose returns are expected to have low correlation to the equity and fixed income markets.
In addition to offering risk diversification, the fund aims to provide capital preservation and consistent returns over time, which can be especially beneficial during periods of heightened market volatility.
The overall portfolio assembly emphasizes risk considerations and risk budgeting, owing to the varying volatility levels and risk profiles of the individual component strategies. Portfolio managers regularly assess and rebalance the portfolio weights among the strategies to ensure diversification and achieve risk targets in light of changing market conditions.
The net expense ratios of the fund’s Investor Class shares and I Class shares are 1.37% and 1.07%, respectively. Fee waivers of 0.13% and 0.61%, respectively, are in place through Feb. 29, 2020.
BNY Mellon Adds Bond Fund To Distribution Platform
BNY Mellon Investment Management added the BNY Mellon Insight Core Plus Fund, an actively managed multi-sector bond strategy, to its distribution platform.
The BNY Mellon Insight Core Plus Fund seeks to deliver attractive risk-adjusted performance over an investment cycle and in various market conditions.
The fund normally invests primarily in a diversified portfolio of investment grade fixed income securities of U.S. and foreign issuers.
The Dreyfus Corporation serves as the investment manager of the Fund and MBSC Securities Corporation serves as the fund’s distributor.
The fund offers Class A (DCPAX), Class C (DCPCX), and Class I (DCPIX) shares with a minimum initial investment of $1,000. The fund also offers Class Y (DCPYX) shares generally with a minimum initial investment of $1 million.
Hartford Funds Cuts Management Fees on Multifactor ETF Suite
Hartford Funds reduced the management fees across six of its seven Multifactor ETFs by an average 28 basis points., which is designed to lower costs for investors.
The Hartford Funds’ Multifactor ETFs, designed to lower costs for investors, seek to outperform traditional passive benchmarks while delivering the potential benefits of transparency and tax efficiency offered within an ETF wrapper.
Fees were cuts as follows:
- Hartford Multifactor US Equity ETF, from 29 basis points to 19 bps
- Hartford Multifactor Developed Markets (ex-US) ETF and Hartford Multifactor Low Volatility International Equity ETF, from 39 bps to 29 bps
- Hartford Multifactor Global Small Cap ETF, from 55 bps to 39 bps
- Hartford Multifactor Emerging Markets ETF, from 59 bps to 49 bps
- Hartford Multifactor Low Volatility US Equity ETF, from 29 bps to 22 bps
Fees for the Hartford US REIT ETF remained unchanged, at 45 bps.
As a result of these reductions Hartford Funds says the operating expense ratios for its Multifactor ETFs now rank near the lowest one-third of all ETFs within their respective categories and among the least expensive 5% when compared to institutional share classes of all actively managed mutual funds.