Norwood, Mass.-based W.E.Donoghue & Co., Inc. has struck up a distribution deal with Mutual of Omaha’s Retirement Plans Division to distribute its Power Income Fund to retirement plan participants.
The fund bets on high yield bond funds and money market funds and hedge its losses by betting on inverse mutual funds or short selling exchange-traded funds.
“We are confident this alliance will impact our growth initiatives across all channels and look forward to a long, healthy relationship with Mutual of Omaha,” stated Curt Meyer, managing director, W.E. Donoghue & Co., Inc.
Seth Friedman, national sales director for Mutual of Omaha’s Retirement Plans Division, said that the company expects to form strategic alliances with additional fund managers that feature risk controlled or other defensive strategies in the coming months.