MassMutual, CommonBond Offer Student Loan ReFi Plan: Portfolio Products

Massachusetts Mutual Life Insurance Co. has teamed up with CommonBond to offer a new student loan refinancing program through MassMutual’s network of 9,000 financial advisors across the U.S.

Both undergraduate and graduate loans can be refinanced through this program, including federal, private, Parent Plus and previously consolidated loans. Borrowers can choose variable or fixed rates and length of loans.

Rates vary, depending on several factors including whether a borrower comes through MassMutual, their credit profile and term of the loan. Variable rates for a 10-year loan, for example, range between 3.67% APR with autopay to 6.55%, according to CommonBond.

Borrowers that refinance with private lenders cannot take advantage of federal government programs such as income-based repayment or public service loan forgiveness plans.

Buffalo Funds Launches an Institutional Share Class for All Funds

Kornitzer Capital Management (KCM), the investment advisor to the Buffalo Funds, introduced Institutional Class shares for initial investments of $250,000 in any of the firm’s 10 actively managed mutual funds.

The new share class charges 15 basis points less than the other share class, now called Investor Class, and has a different ticker symbol and CUSIP number than Investor Class shares. Current investors who qualified for the new share class as of July 1 had their shares automatically converted to the new Institutional Class. 

“Institutional shares should increase the marketability of the funds going forward and help to ensure Buffalo Funds ability to thrive long into the future,” said Christopher Crawford, Director of Advisor Relationships, in a statement. 

Buffalo Funds recommends that advisors and shareholders check their custodial platforms to see if the new share class is available for purchase. 

— Check out last week’s portfolio product roundup here: DWS Group Launches First S&P 500 ESG ETF for US Investors: Portfolio Products