Deals & People January 6, 2014

Oppenheimer Expands Multi-Asset Team

Michelle Borre and her team of investment analysts have moved within OppenheimerFunds to join the investment firm’s global multi-asset group (GMAG).
Reported by

The GMAG works closely with portfolio managers and research analysts across OppenheimerFunds’ equity, alternatives and fixed-income teams to develop and manage portfolio solutions for clients.

Under the new arrangement, Borre and her team of three analysts will work to enhance the GMAG’s research and portfolio management capabilities, providing an independent and fundamentally driven investment approach for Oppenheimer clients, explains Mark Hamilton, CIO for asset allocation.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

“In turn, her team will benefit from access to greater resources and personnel as a part of GMAG,” Hamilton says. “Together, the combination will foster continued investment success on behalf of our clients across all of the firm’s multi-asset products and solutions.”

Borre joined OppenheimerFunds in 2003 as a senior research analyst on the value investment team, later taking on the role of portfolio manager for the Oppenheimer Capital Income Fund and the Oppenheimer Flexible Strategies Fund. The fundamental processes of both funds will remain the same, according to a statement from the firm.

Products January 6, 2014

Ameritas Adds Fiduciary Solutions

Ameritas Life Insurance Corp. has partnered with Mesirow Financial Investment Strategies to bring fiduciary partnership services to retirement plan clients.
Reported by

The fiduciary partnership solutions are designed to help plan sponsors and other investment fiduciaries meet standards prescribed in sections 3(31) and 3(38) of the Employee Retirement Income Security Act (ERISA).

Under the agreement between Ameritas and Mesirow Financial, plan fiduciaries will have the choice to select from two fiduciary solutions. These include ERISA Section 3(21) investment advisory services, through which Mesirow Financial will assist with investment selection and monitoring, and 3(38) investment management services, through which Mesirow Financial will assume full discretion for selecting, monitoring and replacing plan investment options. 

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

“Offering both of Mesirow Financial’s fiduciary service options enhances customization for plan fiduciaries whose needs vary from plan to plan,” explains Jim Gairns, director of sales development for the retirement plans division of Ameritas. “This strengthens the Ameritas fiduciary offering for retirement plan clients by adding an additional layer of third-party investment oversight and legal protection, in addition to clarifying the non-fiduciary role of Ameritas producers.”

Under the 3(21) service, Mesirow Financial will independently analyze the Ameritas investment platform and act as an investment fiduciary alongside the plan administrator who maintains control over avplan’s investment menu. Plan fiduciaries will be provided with a list of approved investment options, which will be monitored by the quarterly Mesirow Financial POLICE Report.

Alternatively, a plan fiduciary can also use one of Mesirow Financial’s suggested sample investment lineups based on plan demographics.

For plans seeking 3(38) fiduciary coverage, in addition to providing quarterly analysis and reporting, Mesirow Financial’s Investment Strategies team assumes full discretion for investment option selection, acting as the investment manager to the plan.

For more information on the services and the partnership between the two firms, call 1-800-923-2732. 

«