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Barclays Introduces 10-Year Bear ETNs: Portfolio Products

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Barclays Bank launched the iPath Series B US Treasury 10-year Bear ETNs (BTYS) with an annual investor fee of 0.75%.

The new exchange-traded notes track the performance of the Barclays 10 Year US Treasury Futures Targeted Exposure Index (BXIITETY), which “seeks to produce returns that track movements in response to an increase or decrease… in the yields available” to investors buying 10-year U.S. Treasury notes, according to the company.

Barclays is serving as issuer of iPath ETNs and Barclays Capital is serving as the issuer’s agent in the distribution.

Holders of the firm’s earlier iPath US Treasury 10-year Bear ETNs (DTYS) can also purchase the new ETNs in an amount having an equal dollar value, with each transaction having the same valuation date and settlement date, according to the company. In that case, upon redemption of the earlier ETNs, the holder would receive a number of the new ETNs equal to the aggregate daily redemption value of the redeemed earlier ETNs, rounded to the nearest full new ETN, with a residual cash payment for any “partial” remaining older ETNs, it said.

Tech-Enabled Private Wealth Manager Introduced by Wedmont

RIA Wedmont Private Capital launched a technology-enabled private wealth manager platform targeted at high-net-worth investors looking to pay lower fees.

The firm, started by former Vanguard, Credit Suisse and UBS executives, provides an “alternative to the traditional model of private wealth management,” it said.

“It’s a game-changing model,” according to co-founder Dominic Corabi, ex-program manager at Vanguard. “We’ve long believed that the traditional model of private wealth management was overdue for a restructure,” he said in a statement.

Wedmont, co-founded with James Pelletier (ex-Credit Suisse and UBS), works with clients having more than $1 million in investable assets.

“By charging a flat $10,000 annual fee, regardless of the size of the client portfolio, Wedmont provides much-needed transparency to HNW investors,” it said, adding: “Over the long term, this flat fee may enable clients to accumulate significantly more wealth than they would have amassed working with a traditional AUM advisor.”

FTSE Russell Touts New Target Factor Exposure Indexes

FTSE Russell introduced new FTSE Target Exposure indexes that it said “allow users to achieve, explicit exposure objectives from risk factors, industries and countries, to sustainable investment goals.”

The new indexes “provide precise alignment between investment exposures and investment objectives,” enabling investors to “precisely calibrate exposure to common risk factors such as value, quality, low volatility, size and momentum as well as industry and country classifications,” the company said.  Sustainable investing portfolio objectives such as the United Nations’ Sustainable Development Goals may also be incorporated, it said.

The “precise control of exposures, including removal of un-wanted factor exposures, permits better control of tracking error to exposure objectives,” it added.

The launch “represents a natural evolution of FTSE Russell’s factor framework by applying variable factor tilts over time to account for the changing attributes of stocks,” it said, adding: “Crucially, the indexes maintain the high levels of transparency associated with the FTSE Global Factor Index Series.”

TD Asset Management Expands Alternative Investment Options

TD Asset Management’s latest alternative investment solution is the TD Greystone Global Real Estate Fund. The new fund joins the firm’s comprehensive alternative suite that includes real estate, commercial mortgages and global infrastructure.

The fund’s investment objective is to “seek strong long-term, risk-adjusted returns by investing in a diversified portfolio of direct and indirect global real estate investments,” according to the company. The fund has exposure to over 500 properties located in about 15 countries, it said.

“As investors increasingly look to manage portfolio risk, there is now a greater demand for adding a global real estate allocation that can complement an existing Canadian real estate mandate by providing additional diversification, a greater opportunity set, and the potential to enhance risk-adjusted returns,” said Colin Lynch, vice president and director of global real estate investments at the firm. The new fund provides “access to the benefits of privately held global real estate assets,” he said in a statement.

Horizons ETFs Adds Offerings

Horizons ETFs Management launched three new total return ETFs: The Horizons US Large Cap Index ETF (HULC, with a net expense ratio of 0.08%), Horizons S&P/TSX Capped Composite Index ETF (HXCN, 0.05%) and Horizons Cash Maximizer ETF (HSAV, 0.18%)

The new ETFs “can use either a total return swap or physical replication in order to deliver the total return of the underlying investment strategy with minimal tracking error (in the case of HULC and HXCN) and competitive management fees,” according to Horizons.

HULC, HXCN and HSAV join a Horizons ETFs family of total return ETFs that now provides exposure to 18 different benchmarks or asset classes.

Atria Wealth Solutions Rolls Out New Advisor Platform

Atria Wealth Solutions launched Unio, a new advisor platform featuring business texting.

The platform is available to more than 1,300 advisors at Atria’s subsidiary broker-dealers CUSO Financial Services, Cadaret Grant & Co. and Sorrento Pacific Financial. It’s expected that Unio will be rolled out to other Atria entities by year-end, the company said.

The name Unio was derived from Latin and means “to unite,” the firm said. “Hundreds of advisors influenced Unio’s development through design review and feedback sessions [and] they also participated in a hands-on pilot program to ensure that, at its core, Unio works to help advisors scale their businesses and deliver an exceptional client experience,” it noted.

Business texting is the first of many features to be delivered via the Unio experience, the firm said. However, the platform’s “critical features that advisors need” also include customer relationship management, robust reporting, customizable pages and workflow, it said.

— Check out last week’s Portfolio Products here: WisdomTree Partners with Jeremy Siegel to Challenge 60/40 Strategy: Portfolio Products


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