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Rating:Genworth Marks Six New Funds For Launch Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 31, 2011

Genworth Marks Six New Funds For Launch

Reported by Neil Anderson, Managing Editor

Genworth Financial Wealth Management [see profile] just put six new mutual funds in its official pipeline, and it looks like that's good news for Franklin Templeton [see profile], Loomis Sayles [see profile] and State Street Global Advisors [see profile]. On Tuesday the Pleasant Hill, California-based firm filed to launch four asset allocation funds, a fixed income fund and a real return fund [see filing].

The MFWire could not immediately reach spokes people for Franklin, Genworth or State Street for comment for this story. A Loomis spokesperson was not immediately able to comment.

The funds-to-be are:

  • the GuideMark Global Real Return Fund, sub-advised by SSgA, PMed by SSgA vice presidents Christopher Goolgasian and Robert Guiliano (197 basis points for service shares and 147 bps for institutional ones);

  • the GuideMark Opportunistic Fixed Income Fund, sub-advised by Franklin and Loomis, PMed by Franklin senior vice presidents Canyon Chan and Michael Hasenstab and Loomis vice presidents Matthew Egan, Kevin Kearns and Todd Vandam (150 bps for service shares and 100 bps for institutional ones);

  • the GuidePath Absolute Return Asset Allocation Fund, PMed by Michael Abelson, senior vice president of investments & product management at Genworth, and Zoe Brunson, director of investment strategies (191 bps for service shares and 141 bps for institutional shares);

  • the GuidePath Strategic Asset Allocation Fund, PMed by Abelson and Brunson (162 bps for service shares and 112 bps for institutional ones);

  • the GuidePath Tactical Constrained Asset Allocation Fund, PMed by Abelson and Brunson (167 bps for service shares and 117 bps for institutional ones);

  • and the GuidePath Tactical Unconstrained Asset Allocation Fund, PMed by Abelson and Brunson (172 bps for service shares and 122 bps for institutional ones).

    U.S. Bancorp Fund Services will serve as the new funds' accountant, administrator and transfer agent, and U.S Bank handles custody (except for the fixed income fund, which Bank of New York Mellon will custody). Genworth's own Capital Brokerage Corporation will handle distribution, with U.S. Bancorp's Quasar Distributors serving as sub-distributor. KPMG is the funds' independent accounting firm, and Stradley Ronon Stevens & Young provides legal counsel. 

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