Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Portfolio > ETFs

State Street Announces Changes to 2 High Yield Bond ETFs: Portfolio Products

Your article was successfully shared with the contacts you provided.

State Street Global Advisors announced several enhancements to two high yield bond ETFs with a combined $8.8 billion in assets.

A 1:3 reverse share split will be implemented to reduce trading costs for the SPDR Bloomberg Barclays High Yield Bond ETF (JNK), effective April 1.

In addition, the SPDR ICE BofAML Crossover Corporate Bond ETF (CJNK) will change its index strategy and name, and decrease its expense ratio by 25 basis points, also effective April 1. The new fund name will be SPDR ICE BofAML Broad High Yield Bond ETF and the new underlying index is ICE BofAML US High Yield Index. The ticker will remain the same. The expense ratio will fall from 0.40% to 0.15%.

According to Noel Archard, global head of SPDR product, “JNK’s increased share price will appeal to investors who favor its large trading volumes and optionality, and with CJNK’s lower expense ratio and new index strategy, we are able to offer diversified, low cost exposure to investors who view high yield as a strategic asset class in buy-and-hold portfolios.”

The 1:3 reverse share split for the SPDR Bloomberg Barclays High Yield Bond ETF raises its share price to approximately $105, helping to reduce trading costs for clients seeking liquid exposure to high yield bonds.

BizEquity Launches Advisor-based, AI-enabled Prospecting Service

BizEquity launched a new patent-pending artificial intelligence engine and lead service called Franklin.

With Franklin, BizEquity has made a new lead generation and intelligent routing service to prospect and engage with business owners through business valuation knowledge exchange.

An FPA/CNBC report finds that 78% of business owners expect to fund their retirement through the sale of their business. However, reports from IBISWorld show that 98% of business owners don’t know the value of their company, often due to the time and cost restraints that are associated with the process.

According to Michael Carter, founder & CEO of BizEquity, Franklin will help advisors help business owner clients “understand their net worth and how to plan for tomorrow.”

Franklin links business owners to the right advisory services – for instance financial planning, accounting, succession, and retirement – that are positioned and trained to properly assist them.

To do this, Franklin leverages a database that has more than 40 million businesses and over 55 million contact records. Franklin will leverage this data to partner with some of the largest media companies in the world to connect advisors to business owners that need valuation guidance.

United Capital Adds SpiderRock And iCapital Network Strategies

United Capital Financial Advisers added strategies from SpiderRock Advisors, LLC and iCapital Network to its investment management platform to create a “sophisticated suite of defensive strategies in the U.S.,” the firm says.

United Capital has invested heavily in its investment management platform to provide defensive strategies to help safeguard the financial life goals of its clients as they face the headwinds of market volatility in 2019 and beyond.

The firm identified a demand for additional defensive strategies to complement United Capital’s wide selection of tactical asset allocation strategies.

SpiderRock offers options overlays which aim to provide additional income and mitigate investment risk. Its options strategies, which will be managed by SpiderRock as a sub-adviser for United Capital, are a suite of customizable strategies that can overlay existing portfolios.

iCapital Network’s strategies offers access to institutional-quality alternative investment strategies such as private equity and hedge funds in a number of different structures. They provide access to uncorrelated assets that offer the potential for return enhancement, diversification, or capital preservation when added to a traditional portfolio of stocks and bonds, helping to reduce volatility.

Third-party advisors who use United Capital Investment Management through FinLife Partners are able to access these strategies as well.

AssetMark Integrates Redtail Data to Streamline Client Onboarding

AssetMark, Inc. announced the integration of Redtail data with its platform to simplify the client onboarding process.

By allowing advisors to pull in client data directly from their Redtail accounts, the new feature will expedite the account setup process and provide a centralized hub for advisors to more easily manage existing clients.

The integration will allow advisors to open individual or joint accounts in a fraction of the time it currently takes by directly populating client data from their Redtail CRM. In-house testing shows that the average search and import time with Redtail integration is 30 seconds, compared to about four minutes inputting the information manually.

The integration will also enable advisors to store their Redtail login information so they’re automatically connected when they log in to the AssetMark advisor portal. AssetMark advisors will also have access to exclusive pricing on Redtail.

Roofstock Launches Roofstock One, A Radically Simple Way to Invest in Real Estate

Roofstock launched a new investment offering that allows investors to buy shares of single-family rental homes and enjoy potential economic and tax benefits of rental home ownership, without any of the responsibilities of being a landlord. Financing, insurance, leasing, property management and asset management are all in-place and handled by Roofstock.

Through the Roofstock One marketplace, investors can purchase shares in fully-managed rental homes that represent beneficial ownership of real property. The marketplace will Initially offer shares in homes in the Atlanta and Indianapolis metro areas that have been identifed for their investment potential.

For those homes being offered as part of the launch, Roofstock One is electing to retain a minimum 10% ownership interest in each fractional property for at least a year to demonstrate investor alignment.

—Read the last portfolio product roundup here: Fidelity Investments Launches Fund Focused on Founder-Led Companies: Portfolio Products


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.