Lazard Asset Management launched the Lazard US Sustainable Equity Portfolio, with the ticker symbols SUSTX (institutional, with a net expense ratio of .75%) and SUSLX (retail, 1.00%).
The new fund seeks to outperform the S&P 500 Index and is investing in U.S.-listed companies with a market capitalization greater than $1 billion, the firm said. It is “relatively concentrated and normally will hold between 40 and 50 positions,” according to the company.
In addition to leveraging the environmental, social and governance-integrated fundamental research conducted by Lazard’s sector-focused research analysts, the portfolio’s management team is looking to invest in businesses that “generate high levels of financial productivity, while considering the alignment of each company’s products, services, and operations with a more sustainable world,” it said.
“We have seen tremendous interest from clients for investment solutions that are truly rooted in sustainability,” according to Ronald Temple, head of US Equity at Lazard. “Understanding what is material to each company gives us an edge in assessing sustainability and security selection more broadly.”
Envestnet Gets Franklin Templeton Model Portfolios
Franklin Templeton’s suite of 12 outcome model portfolios have been added to Envestnet’s platform.
The dozen outcome model portfolios include five strategies that prioritize generating income, either as primary or as part of a total return objective (Income, Tax-Advantaged Income, Growth & Income, Growth & Enhanced Income and Tax-Advantaged Growth & Income); four strategies that seek capital appreciation (Conservative Growth, Moderate Growth, Growth and Equity Growth); two strategies aimed at protecting assets from meaningful loss (Stability and Tax-Advantaged Stability); and one strategy geared toward protecting assets in a rising interest rate environment (Rising Rate Defense).
Each portfolio is aligned with specific intended outcomes and will hold about 5-12 underlying mutual funds and exchange-traded funds, Franklin Templeton said. The three tax-advantaged portfolios are offered as options to clients with high tax sensitivities, it noted.
Ed Perks, chief investment officer of Franklin Templeton Multi-Asset Solutions and portfolio manager of Franklin Income Fund since 2002, heads the 60-plus member team that manages the models now available via the Envestnet platform.
SoFi 50 ETF Relaunched
The SoFi 50 ETF has been relaunched on the NYSE Arca and is now indexed to reflect the most popular equities among SoFi members, SoFi said.
The updated fund has retained the same ticker SFYF on the NYSE Arca, with a net expense ratio of 0.29%. The ETF now tracks the performance, before fees and expenses, of the SoFi Social 50 Index, a portfolio of the 50 most-widely-held U.S.-listed equity securities in SoFi members’ self-directed brokerage accounts with SoFi Invest, the company said.
The index is weighted by aggregate holdings within SoFi member accounts and will be rebalanced on a monthly basis, it noted.
SoFi has continued to partner with Tidal ETF Services for the trust, strategy, administrative and operational aspects of the fund, SoFi added.
The reindexing of the SFYF ETF follows the recent extension of fee waivers on the SoFi Select 500 (SFY) and SoFi Next 500 (SFYX) funds, which will retain a zero expense ratio for at least another year, through June 30, 2021, the company said. All of SoFi’s ETFs are available through SoFi Invest, as well as through any other brokerage account, it pointed out.
Hamilton Lane Closes Impact Fund
Hamilton Lane has closed its new Impact Fund, a private equity fund with total capital commitments of more than $95 million.
The fund is “designed to generate both attractive investment returns and positive social and environmental impact” and will invest in businesses worldwide via “direct investments and primary or secondary investments, with a focus on health and wellness, energy and environment, community development, and financial empowerment,” the firm said.