Our weekly roundup of new fund launches.
New ETF platform from BNY Mellon’s Pershing
BNY Mellon’s Pershing has launched a no-transaction-fee ETF platform called FundVest ETF.
The platform, which pairs with Pershing’s mutual fund FundVest NTF platform, is only available to Pershing’s clients, the firm said. Using FundVest ETF, Pershing’s clients can offer multiple ETFs to investors at lower costs, according to the firm.
The platform doesn’t require purchase minimums or fixed holding periods.
Russell Microcap Index to add Aviat Networks
Aviat Networks will be listed on the Russell Microcap Index starting on June 26.
As a member of the Russell Microcap Index, Aviat will now be included in growth and value style indexes, according to the firm.
Innovative Solar Systems to offer renewable energy funds
Innovative Solar Systems is negotiating with managers to open renewable energy funds for ISS’s planned projects spread out over the upcoming year in 35 states.
The company creating separate funds for three types of projects: those that are in the early stages of development, those that have received a notice to proceed and those that have finalized construction.
ISS currently has more than 200 solar farm projects scheduled for 2017.
For clients who crave consistency and aren’t trying to blow the doors off, these funds are worth a look.
Pacer adds ETFs to Cash Cows Index
Pacer has released two ETFs as a part of its Cash Cows ETF Series.
The Pacer Developed Markets International Cash Cows ETF (ICOW), which has an expense ratio of 0.65%, choose the top 100 companies with the highest free cash flow yield in developed international markets, Pacer said. The Pacer US Small Cap Cash Cows 100 ETF (CALF), which has an expense ratio of 0.59%, is aimed at small-cap U.S. companies with the highest free cash flow.
“With our two new funds, we can help investors gain exposure to high-quality companies both in U.S. small-cap and internationally,” Joe Thomson, president of Pacer Financial, said in a statement.
BNY Mellon's Lockwood Advisers announced new portfolio suite
BNY Mellon's Lockwood Advisors, a provider of managed account solutions, has developed a suite of portfolios by combining American Funds mutual funds and ETFs.
The Lockwood/American Funds Core Portfolios, created by the investment team at Lockwood, allows investors to combine active and passive strategies by leveraging objective-based portfolios within a multivehicle, low-cost investment options, the firm said. The portfolios have an account minimum of $10,000, according to BNY Mellon.
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In 2016, the SEC brought a record 868 cases, including 173 against broker-dealers and advisers and 159 against investment companies.
May 16 -
Enforcement actions at the SEC and FINRA highlight emphasis regulators are placing on fees and reverse churning, anti-money laundering programs and variable annuities.
June 23 -
The new offerings could boost returns to investors by 50 basis points, according to a study.
April 17
O'Brien Investment Group launches global macro fund
O'Brien Investment Group, a futures brokerage and clearing firm, announced the launch of a new global macro fund.
The OBIG Discretionary Global Macro Fund, which has a $250,000 minimum investment, will be managed by Monica Fuentes, portfolio manager and chief investment officer of the firm. The fund is open to the public beginning July 1 and will offer a founders share class for the first $100 million, the firm said.
Multi-factor fund from Deutsche Asset Management
Deutsche Asset Management announced the launch of a U.S. multi-factor fund.
The Deutsche U.S. Multi-Factor R6 (DMFRX), which has an expense ratio of 0.35%, is designed to provide access to the Deutsche X-trackers Russell 1000 Comprehensive Factor ETF (DEUS), the firm said. DMFRX was launched with $2 million in net assets, according to Morningstar.
"Through deliberate, consistent and direct factor exposure, the Deutsche U.S. multi-factor fund's objective is to potentially make a significant contribution to outperforming traditional market-capitalization weighted benchmark indices, while lowering risk possibilities and adding diversification to the portfolio," said Brian Binder, president of Deutsche Funds.
