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Thursday, August 24, 2017|
New Fund Fuss - August 24, 2017
Platform Addition: three AlphaHedge long/short equity strategies through SMAs
Today Chicago-based Envestnet's portfolio management consultants group (Envestnet | PMC) made three long/short equity strategies available via separately managed accounts on Envestnet's platform. All three strategies (AlphaHedge HarborWalk Long/Short, AlphaHedge Inifinitas Long/Short, and AlphaHedge ISF Long/Short) are powered by AlphaHedge, which Envestnet made a strategic investment into back in 2015.
New Program: education on "the shifting regulatory environment"
Today New York City-based AxiomSL unveiled a new, complimentary regulatory education program for asset managers and broker-dealers. The idea, explains global CEO Alex Tsigutkin, is to help firms "become conversant with the 'new normal.'" The new program includes: a blog, a "COO Supper Club", an "Explainer Series" about jargon and key dates, and "In the Know" briefs.
Company: Voya Financial
New Product: the Voya Select Advantage Advisory IRA
Yesterday Voya unveiled the Voya Select Advantage Advisory IRA, an NTF mutual fund custodial account featuring 90 individual mutual funds. Voya already offers a commission-based version of the new IRA. And the new IRA will also be offered through its independent broker-dealer, Voya Financial Advisors.
Company: Manning & Napier
Adopted Fund: the Rainier International Discovery Fund
Yesterday Fairport, New York-based Manning confirmed the completion of its adoption of the Rainier International Discovery Fund. In May 2016 Manning bought a 75-percent stake in Rainier Investment Management.
Planned Fund: the Vanguard Total Corporate Bond ETF
On Tuesday, Vanguard unveiled plans to create the Vanguard Total Corporate Bond ETF. The plan is to debut the new fund, an ETF of ETFs, in Q4.
Company: Artisan Partners
New Fund: the Artisan Global Discovery Fund
On Monday Milwaukee-based Artisan launched the Artisan Global Discovery Fund, managed by the Artisan Partners growth team. More specifically, Jason White is the new fund's lead PM, and Craigh Cepukenas, James Hamel, and Matthew Kamm also PM.
On Friday Atlanta-based Invesco closed on its planned purchase of Source, an ETF specialist in Europe with about $26 billion in assets (including about $8 billion in externally managed AUM).
New Firm: Epsilon Asset Management
New Fund: the Epsilon Sector-Balanced Fund
New SMAs: the Epsilon Activist Strategy and the Epsilon Unconstrained Strategy
Last Thursday New York City-based Epsilon officially launched, with more than $100 million (from hedge fundster William Cline) in three strategies, one in mutual fund form and two in SMAs. Faryan Amir-Ghassemi (formerly of Cambridge Associates), Adam Lavin (formerly of Alternative Investment Management), and Michael Perlow (formerly of Ipreo) lead the new firm, which specializes in creating "systematic, alpha-oriented portfolios" by analyzing public filings from other active asset managers.
Company: Rafferty Asset Management
New Fund: the Direxion Daily Emerging Markets Bond Bull 3X Shares ETF
Last Thursday Rafferty unveiled the latest Direxion Investments ETF, which offered a magnification of the returns of the J.P. Morgan EMBI Global Core Index.
Company: Timothy Plan
Milestone: $1B in AUM
Last Thursday Timothy Plan revealed that it has crossed the $1-billion AUM threshold. Philadelphia-based Timothy Plan offers a family of mutual funds and offers "biblically responsible" investing geared towards evangelical Christian investors who want a "pro-life, pro-family" screen on where they invest.
Company: Cirrus Research
Milestone: 10 years
Earlier this month Tarrytown, New York-based Cirrus celebrated 10 years of offering research to institutional investors, including PMs and risk managers at mutual fund firms and other asset managers.
To learn more about recent fund launches, check our most recent New Fund Fuss here. For information about SEC filings or new hires, check out our latest Filings For Fundsters and Follow the Fundsters columns, respectively. If you have a fund filing that you would like to point out, a mutual fund launch, product change or new hire that you would like to announce, please contact the MFWire team at email@example.com.
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