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T. Rowe Price Introduces China Evolution Equity Fund: Portfolio Products

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T. Rowe Price launched a China Evolution Equity Fund that’s targeting “long-term growth of capital” via investments in Chinese companies, the firm said.

Although the company has been investing in China for decades through global strategies, including those focused on emerging markets and Asia, the T. Rowe Price China Evolution Equity Fund represents its first mutual fund focused only on Chinese equities, it noted.

The fund’s expense ratio is 1.40% for Investor Class shares (TCELX) and 1.04% for I Class shares (TRCLX). The minimum initial investment amounts are $2,500 for Investor Class shares and $1 million for I Class shares.

“China is undergoing unprecedented changes, including an evolving economic model, industrial upgrades, and a shifting geopolitical outlook,” according to Wenli Zheng, portfolio manager of the China Evolution Equity Fund. “These changes have created an investment landscape with ample mispricing opportunities,” he said in a statement, adding: “The China Evolution Equity Fund looks to exploit these opportunities through a style-agnostic approach unconstrained by an index.”

Pershing Launches Fee-Based Annuities With Subscribe

BNY Mellon’s Pershing subsidiary completed the integration of its managed accounts technology with its annuity order entry platform, Subscribe.

Subscribe provides advisors with “streamlined annuity purchasing and servicing capabilities” within Pershing’s managed accounts solution, it said. The integrated solution supports more than 70 fee-based annuity products from 18 carriers and was developed to “deliver a seamless experience for advisors looking to incorporate fee-based insurance products into the wealth management process,” it said.

The solution will allow advisors to: efficiently construct a proposal inclusive of fee-based annuities; build a custom allocation mix in a flexible variable annuity model; open a managed account; buy an annuity contract electronically; provide account oversight; aggregate for billing; and receive daily detailed holdings and balance updates, or run on-demand and quarterly performance reports, Pershing said.

BlackRock, 55ip Team Up on Model Portfolios

BlackRock Model Portfolios is partnering with 55ip’s investment strategy engine that enables advisors to automate tax management using quantitative capabilities.

The collaboration will allow advisors to “leverage 55ip’s proprietary capabilities and transition client portfolios into” a BlackRock Model “in a tax-aware manner with ongoing tax management and trading,” BlackRock and 55ip said.

The platform has been co-branded BlackRock and 55ip, and is available for advisors who custody client accounts via Fidelity, TD Ameritrade Institutional and Schwab Advisor Services. With these integrations, advisors can select a BlackRock Model Portfolio for a client account and use 55ip’s tax technology to “facilitate a tax-aware transition into the model over time and provide ongoing, automated tax management” on the model, BlackRock and 55ip said.

InvestCloud Releases PersonaTech App

InvestCloud has launched an app, PersonaTech, that the Los Angeles-based fintech firm said will create personal digital experiences for wealth management clients.

It’s the latest app in the company’s library of more than 300 digital financial apps and will “enable any wealth manager to have the ability to create personas for each client, making digital experiences unique to the individual,” but is “enormously scalable,” the company said.

PersonaTech can be applied to companies of any size working across the investment management value chain, it said, noting the app helps managers improve client retention via “advanced audience segmentation that goes beyond traditional approaches (age/gender/level of wealth), to incorporate aspects such as financial knowledge, digital savviness and appetite to set life goals.”

The new app’s launch comes as the wealth management industry faces an engagement crisis, especially for female clients. Yaela Shamberg, InvestCloud chief product officer and a member of the small group who started the company in a West Hollywood garage in 2010, led development of PersonaTech in response to that situation and because of her own experiences in the financial industry, she said.

Coming soon, meanwhile, is InvestCloud Pink, a financial wellness platform now in internal beta testing and expected to launch in 2020, she told ThinkAdvisor.

REX Shares Launches Cannabis Leveraged Exchange-Traded Note

REX Shares added to its MicroSectors line with the introduction of MJO, a cannabis-focused exchange-traded note in the U.S. with a net expense ratio of 95 basis points.

The ETN is linked to MSMJ, the Indxx MicroSectors North American Cannabis Index, and is out to provide “2x leveraged exposure to the index,” the firm said.

The company also launched MJJ, an unlevered version of the ETN linked to the Index with a net expense ratio of 70 basis points. It and MJO are trading on the NYSE Arca.

MoneyGuide Partners With Buckingham; BBR Partners With d1g1t

Envestnet MoneyGuide has expanded its reach by teaming up with Buckingham Wealth Partners. As part of a new deal, Buckingham advisors are able to access the MoneyGuide Elite planning software, Envestnet’s more advanced planning product, which the firms said “has the ability to address the complexities of clients’ financial needs by identifying income gaps,” while showing visually where the money is coming from and how to meet retirement goals.

Separately, boutique wealth management firm BBR Partners selected d1g1t’s analytics, reporting and performance management software solution, those two firms said. BBR serves more than 140 client families, representing more than $16 billion in assets under management, it said.

— Check out last week’s portfolio product roundup here: J.P. Morgan Expands BetaBuilders ETF Line: Portfolio Products.


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