Clear Asset Management announced Monday it has launched a suite of software-managed separately managed account portfolios designed to "remove Wall Street bias and human opinion" by using software to evaluate more than 10,000 publicly traded U.S. companies. Each of the six equity portfolios of 20 to 25 stocks uses proprietary stock-screening algorithms based on 700 screening criteria apiece.

In addition, fund shareholders also get a fully transparent cost structure, one that charges a flat fee ranging from 80 basis points to 200 basis points depending on the amount invested. The flat fee will include trading commissions, which are broken out separately.

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