Our weekly roundup of new fund launches.
Hartford Funds expands BATS ETF Marketplace offerings
Hartford Funds is the latest issuer on the BATS ETF Marketplace with the launch of two funds, according to the firm.
The Hartford Multifactor Low Volatility International Equity ETF (LVIN), which has a net expense ratio of 0.39%, was launched on the index to provide access to developed and emerging markets; while the Hartford Multifactor Low Volatility US Equity ETF (LVUS), which has an expense ratio of 0.29%, tracks the performance of U.S. equity securities.
"These strategies arrive at a time when market volatility is top-of-mind for investors," said Darek Wojnar, head of ETFs at Hartford Funds. "They were designed to reduce volatility for investors pursuing long-term growth potential while introducing positive exposure to other potentially return-enhancing factors such as value, momentum, quality and size."
Quote"Global investors need an increasingly sophisticated set of tools to help them gain deeper insight and an edge into its market opportunities," said Ee Chuan Ng, Bloomberg's head of China sales.
Fidelity Investments adds 2 sustainability funds
Fidelity Investments has launched two sustainability funds in order to strengthen its ESG offerings, according to the firm.
The firm's Fidelity U.S. Sustainability Index Fund is available in investor (FENSX), premium (FPNSX) and institutional (FITLX) share classes; and with net expense ratios of 0.21%, 0.14% and 0.11%, respectively, according to the firm. The fund was also launched in investor (FNIYX), premium (FNIRX) and institutional (FNIDX) share classes; with net expense ratios of 0.30%, 0.25% and 0.20%, respectively.
Bond fund from WisdomTree
WisdomTree launched an investment grade short-term fixed-income fund on the BATS Exchange, the firm said.
The WisdomTree Barclays Yield Enhanced U.S. Short-Term Aggregate Bond Fund (SHAG), which has an expense ratio of 0.12%, seeks yield enhancement by sourcing and reweighting subcomponents within the short end of the U.S. aggregate fixed-income universe and maintaining similar risk characteristics.
ETF launch at IndexIQ
IndexIQ added its first domestic equity-focused addition to its family of factor-based investment solutions, the firm said.
Tracking and yielding the performance of the Nasdaq Chaikin Power U.S. Small Cap Equity Index, the firm's new IQ Chaikin U.S. Small Cap ETF (CSML), which is has a net expense ratio of 0.35%, will use Chaikin's market-based indicators that combine value, growth, technical and sentiment, the firm said.
Bloomberg unveils China Bond Suite
Bloomberg announced the addition of a fixed income investment tool aimed at China's $9 trillion bond market, the world's third largest.
Quote"Regulators are now more prescriptive about compliance requirements," said Bloomberg's Chris Casey.
The RMB Bond Suite includes rate and credit, and fixed income data, real time curves and economic indicators, as well as access to Bloomberg analytics, according to the firm.
Managers can use the tool to view historical yield movement of bonds, real-time benchmark yield curves, the People's Bank of China's open market operations calculator, bond futures pricing tools and comprehensive credit analytics, Bloomberg said.
"Global investors need an increasingly sophisticated set of tools to help them gain deeper insight and an edge into its market opportunities," said Ee Chuan Ng, Bloomberg's head of China sales.
Danske adopts Bloomberg's liquidity assessment tool
Danske Bank Asset Management will now use Bloomberg's Liquidity Assessment Tool to measure and monitor all liquidity risk across all asset classes, according to Bloomberg.
In order to meet compliance standards, the Copenhagen-based international asset manager, which currently manages over $109 billion in assets, adopted the tool in order to measure and benchmark the liquidity risk of its fixed income and equity portfolio investments, Bloomberg said.
"Regulators are now more prescriptive about compliance requirements, urging financial firms to measure and report liquidity risk in a systematic way across their firm," said Chris Casey, global head of Bloomberg's reference and regulatory data group. "We're committed to helping Danske standardize its compliance workflow using Bloomberg LQA."