Products December 9, 2021

Investment Product and Service Launches

Alpha and Nasdaq extend relationship; OneAmerica launches new adviser managed account service; PGIM Investments launches new bond funds; and more

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Art by Jackson Epstein

Art by Jackson Epstein

Alpha and Nasdaq Extend Relationship  

Nasdaq and Alpha Capital Management have announced an extension of their relationship that enables Nasdaq to offer the Alpha Peer Universes through Nasdaq’s Asset Owner Solutions. Users will be able access the peer universes through the eVestment and Solovis platforms.

The new Alpha Peer Universes provide a third-party and unbiased tool for allocators to analyze their performance and asset allocation against more than 1,100 institutional investment portfolios.

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The Alpha Peer Universes allow allocators to run peer universe analytics on performance and asset allocation versus thousands of other asset owners. Users can analyze the universes based on time-period, client type, portfolio risk, performance and portfolio size, giving users the ability to build peer universes with multiple metrics in an efficient way tailored to their investment profile.

The Alpha Nasdaq OCIO Indices were launched 24 months ago with the goal of creating transparency in the outsourced chief investment officer (OCIO) industry and giving investors and OCIO firms the ability to objectively measure OCIO performance.

OneAmerica Launches New Adviser Managed Account Service

OneAmerica is teaming up with managed retirement accounts provider Morningstar Investment Management. This collaboration enables advisers to deliver more tailored savings and investment advice to plan participants.

OneAmerica will provide recordkeeper services through Morningstar Investment Management to registered investment adviser (RIA) firms in a white-label version under the RIA’s brand. A few pilot firms are already on board and others are slated to join in 2022.

This new managed account service delivers the same investment experience that employers rely upon OneAmerica for in their retirement plan design. This approach gives plan participants more personalized advice based on portfolios that are aligned with their adviser firm’s investment experience and philosophies. Participants receive a personalized investment recommendation based upon many factors such as age, salary, account balance, contribution rate, gender and risk capacity. In addition, individuals can use managed accounts to aggregate previous employer retirement plans and other accounts in order to receive high-level asset allocation guidance.

The adviser managed account service leverages Morningstar Investment Management’s existing managed accounts user interface. OneAmerica has integrated the platform into its recordkeeping system, allowing for a seamless participant experience.

PGIM Investments Launches New Bond Funds

PGIM Investments has launched two new bond funds—the PGIM Total Return Bond ETF and PGIM ESG High Yield Fund—expanding access to its flagship core-plus bond strategy and providing a high-yield option for fixed-income investors committed to environmental, social and governance (ESG) investing principles. PGIM is the global investment management business of Prudential Financial, Inc.

The PGIM Total Return Bond ETF aims to outperform the Bloomberg U.S. Aggregate Index with opportunistic investments in non-benchmark sectors and derivatives. The PGIM ESG High Yield Fund seeks to outperform the Bloomberg U.S. High Yield 1% Issuer Capped Index over the long term while investing in bond issuers with stronger ESG characteristics and practices.

Both funds are managed by PGIM Fixed Income. PGIM Fixed Income’s active investment approach is bolstered by credit research, quantitative research and risk management to help deliver competitive returns and manage volatility.

“PGIM Investments is committed to a vehicle-agnostic approach, offering our strategies in different forms across multiple platforms to meet investors where they are and enabling them to invest the way they want,” says Stuart Parker, president and CEO of PGIM Investments. “These new funds respond to the demand we’re seeing for expanded access to time-tested active management strategies and investment options that put ESG considerations at the forefront.”

BNY Mellon Investment Management Launches Active International Equity ETF

BNY Mellon Investment Management has announced the expansion of its exchange traded funds (ETFs) line-up with the launch of the BNY Mellon Concentrated International ETF.  This active, fully transparent solution is sub-advised by Walter Scott & Partners Limited (Walter Scott), a BNY Mellon investment subsidiary and global equity specialist.

The BNY Mellon Concentrated International ETF brings Walter Scott’s disciplined and patient, high-conviction investment approach to the broader ETF landscape.

The BNY Mellon Concentrated International ETF seeks to provide a compelling investment solution in an area of the market that offers an opportunity to capture alpha. The strategy features a highly concentrated portfolio, typically investing in 25 to 30 high-quality international growth stocks, with a strong emphasis on long-term growth by targeting companies with fundamental strengths that indicate the potential for sustainable growth.

“The current environment demands a critically discerning stock-picking approach to effectively identify quality growth companies. Complex market dynamics have been challenged by policies stemming from the global pandemic, which in some cases, have obscured underlying fragilities across the global corporate sector,” says Roy Leckie, director of Walter Scott. “The BNY Mellon Concentrated International ETF is a natural extension of our existing suite of global funds, and we’re pleased to bring Walter Scott to market in the ETF arena.”

Data & Research December 8, 2021

Health Shocks Often Derail Financial Stability

A new survey shows workers’ ability to maintain or regain financial control after a serious, unexpected health event appears difficult—if not impossible—especially for Millennials and early career professionals.

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A growing number of adults are experiencing depression, and even more are feeling less in control of their health and financial lives than in the past, according a recent Cigna Supplemental Health Solutions study. Compounded by financial stress, this loss of health control has long-term implications and can result in an increased risk of chronic illness, Cigna says.

Cigna partnered with Ipsos for its “Regaining Control and Bouncing Back After the Unexpected” study, a piece of research put together to gain a better understanding of the impact a serious health event has on a person’s life. The study surveyed more than 1,000 full-time employees who experienced a negative, unexpected health event within the past three years.

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Now more than ever, the ability to maintain or regain control after a serious, unexpected health event appears difficult, if not impossible, the study suggests. During a serious health event, life can be affected in several ways, and about one in three experienced a significant loss of control over some aspect of their lives.

People were more likely to struggle with losing control over their finances and life in general than they were to have struggle with losing control over their actual health care-focused decisions. Notably, about one in five experienced a loss of control over their finances, and for about seven in 10, it took more than two months to regain control. About three in 10 still have not regained a sense of financial control.

The study suggests such a loss of financial control often has a negative impact on a person’s ability to pay everyday household bills (31% cited difficulty) or to afford an important large purchase, such as a car or home (37%). Millennials were more likely to say a health event had negatively impacted their ability to afford these purchases, with 38% and 42% of respondents agreeing to each, respectively.

In addition to financial issues stemming from unexpected health challenges, Cigna found that such issues also had a negative impact on a person’s personal and professional life. During a health event, eight in 10 people said they received support from friends and family, with 30% saying the event had a negative impact on those relationships.

Just over three in 10 say the health event had a negative impact on their work or career advancement. According to the study, one in five needed to leave work during the health event, with 11% having to go on short-term disability, 3% on sabbatical, 2% on long-term disability and 2% having to leave their job completely. The impact was greater for Millennials, with 39% saying the event had an impact on their work or career advancement and 5% saying they had to leave their job.

Supplemental health coverage is often designed to help people when they experience a significant health event, but those who had it did not feel like they understood it or knew how to use it effectively, Cigna notes in the study. Of those surveyed, two in five said they felt knowledgeable about supplemental health insurance and, of those covered, 57% felt knowledgeable about what is covered. Of those with supplemental health insurance, 75% say having the plan provided peace of mind during an unexpected health event, and, for 72%, it made unexpected health events more affordable.

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