San Francisco-based HighMark Funds has launched three asset allocation funds that it said would offer a low-risk, high-reward investment, and make it easier for financial advisers to manage client assets.

In introducing the Income Plus Allocation. Growth and Income Allocation and Capital Growth Allocation funds, HighMark said it was "creating a total wealth management solution" to meet financial advisers’ needs." The funds will "combine an active management approach in a ‘Dual Alpha’ methodology." In other words, the funds will utilize two sources of return to their advantage.

Increased efficiency in the reporting process will make life easier for financial advisers, the company said. The HighMark offerings are managed by HighMark Capital Management, a subsidiary of Union Bank of California.

Greg Knopf, HighMark Capital Management’s managing director of mutual funds, said the new funds are the company’s latest example of a commitment to wealth management, as well as financial advisers’ ability to simultaneously grow their own businesses and help their clients.

"By combining HighMark's extensive investment management expertise with some of the industry's top sub-advisors, we've created these unique ‘best-of-breed' products, providing innovative options which seek to reduce risk while obtaining an attractive potential return for clients," Knopf said. HighMark Funds, which are distributed by SEI Investments Distribution Co., currently possess $7 billion in 17 mutual funds.

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