UBS invests in iCapital tech platform: Fund Scan
Our weekly roundup of new fund launches.
UBS invests in tech platform
UBS invested in iCapital Network, an alternative investment technology platform for high-net-worth clients.
With new capital from the Swiss bank and existing investments from BlackRock, iCapital intends to make the technology behind its online platform available to more wealth management clients. UBS plans to use it to improve and automate its operations.
Terms of the deal were not disclosed.
iCapital gives RIAs, broker-dealers and private banks access to alternative investments such as venture capital, real estate and hedge funds on its platform. The software company currently has more than 1,800 registered users that oversee more than $1.7 trillion in client assets.
SimCorp offers private debt module
The investment management solutions company SimCorp launched a new platform for investing in private debt.
SimCorp Dimension was built to meet growing demand from institutional investors for risk-adjusted yields, according to the company. The product is compatible with SimCorp's Investment Book of Record that centralizes intraday positions across all asset classes.
IndexIQ lowers fees for half its funds
IndexIQ is cutting the total expense ratio for three of its 50% currency hedged international equity ETFs by 16 basis points, according to the company.
The IQ 50 Percent Hedged FTSE International ETF (HFXI) had an expense ratio of 0.36%. It has since been reduced to 0.20%.
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The IQ 50 Percent Hedged FTSE Europe ETF (HFXE) and the IQ 50 Percent Hedged FTSE Japan ETF (HFXJ), both of which previously had expense ratios of 0.46%, have now been reduced to 30 basis points.
Schwab adds ETFs
Charles Schwab announced it has launched 15 new ETFs through its ETF OneSource program.
In Schwab's existing ETF platform, investors can buy and sell from 245 ETFs in 69 Morningstar categories. With the new funds, Schwab clients can also invest in high-yield bond, energy limited partnerships and emerging markets ETFs.
Virtus' new ETF
Virtus ETF Solutions launched an ETF that does not buy and sell stocks to maintain the portfolio's original asset allocation.
Virtus Enhanced Short U.S. Equity ETF (VESH) tries to outperform the total return of the S&P 500 by minimizing exposure to large- and mid-cap U.S. equities. It sells future contracts based on how much impact short-term exposure to low performing equities will have on an investor's portfolio.
T. Rowe Price introduces new retirement fund
The new Retirement Income 2020 fund from T. Rowe Price is tailored for so-to-be retirees who would like to generate additional income from their retirement savings.
While the fund is designed for retirees, dividends are distributed to all of the fund's investors. Monthly dividends are calculated based on the fund's net asset value over a rolling five-year time period.
The income fund is structured identically to T. Rowe Price's standard retirement 2020 fund.
TrimTabs offers globally focused ETF
TrimTabs added a second free cash flow ETF to its offerings.
The All Cap International Free-Cash-Flow ETF is designed to achieve long-term gains from non-U.S. companies that produce free cash flow. A proprietary algorithm selects from 85 companies in Europe, Asia and Canada that are decreasing share count and have healthy balance sheets.
TrimTabs' first ETF selected domestic companies with strong free cash flow that were cutting back share counts.
WisdomTree launches new smart beta fund
WisdomTree launched a multifactor fund that evaluates value, quality, momentum and low correlation to manage volatility and maintain sector neutrality.
The WisdomTree U.S. Multifactor Fund (USMF) is ideal for investors who can tolerate greater tracking errors to traditional benchmarks in exchange for higher returns and lower volatility.
Manning & Napier offering funds for fiduciary rule era
Investment manager Manning & Napier is promoting collective investment trust funds as a fiduciary rule-friendly product and adding another offering to its stable of more than 25 CIT funds.
The Disciplined Value Collective Investment Trust Fund is a zero revenue share product with a trustee fee of 0.25%. The companies chosen for the fund are selected based their free cash flow yield, dividend yield, dividend sustainability and financial health.
"CITs are an increasingly important part of the fiduciary due diligence process," says Shelby George, the firm's defined contribution practice leader.