Products November 7, 2018

Pershing Offers Turnkey Managed Account Solution for RIAs

Managed360 features a diverse set of investment options.

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Pershing Advisor Solutions has launched Managed360, a wrap, turnkey managed account solution designed for registered investment advisers (RIAs) that leverages the managed accounts from partner company Lockwood Advisors.

The offering comes on the heels of Pershing’s introduction of ManagedConnect, a dual-contract managed account offering that allows advisers to design customized portfolios on an open-architecture managed account platform.

“As investor attitudes and demands change, advisers are increasingly being challenged to define their unique value proposition and investor experience,” says Gabriel Garcia, managing director and head of relationship management at Pershing Advisor Solutions. “By bringing Managed360 to our clients, we believe we are filling an important need in the marketplace.”

The program is now available on Pershing Advisor Solutions’ brokerage platform. It features separately managed accounts, unified managed accounts, mutual fund wrap accounts and third-party strategists.

The Markets November 7, 2018

Institutional Assets Posted Median Gain of 2.63% in Q3

For the year ended September 30, they are up 6.90%, according to Wilshire Trust Universe Comparison Service.

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Institutional Assets tracked by the Wilshire Universe Comparison Service posted an all-plan median return for the third quarter of 2.63%; for the year ended September 30, the median is 6.90%.

The third quarter built on the second quarter’s slight rebound from a negative first quarter, when all plans posted negative returns for the first time in nearly three years. Combined performance across both the second and third quarters pulled the September 30 one-year return down to 6.90% from 7.50% for the June 30 one-year return.

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“Despite headwinds in bonds due to a significant rise in interest rates late third quarter, exposure to U.S. equities clearly helped support plan performance,” says Jason Schwarz, president of Wilshire Analytics and Wilshire Funds Management. “The recent mix of strong U.S. economic indicators and generally strong earnings results has continued to help drive U.S. equity returns higher.”

U.S. equities gained 7.27% in the third quarter and 17.60% for the year ended September 30. International equities rose 0.71% in the third quarter and 1.76% for the year ended September 30. U.S. bonds were up 0.48% in the quarter and down -0.73% for the year.

Large corporate funds with assets greater than $1 billion saw gains of 1.92% in the third quarter. Their median gain in the quarter was 2.42% and 7.48% for the year. Taft Hartley defined benefit plans had gains of 3.09% in the third quarter. Large corporate funds and endowments with assets above $500 million experienced one-year returns ranging from 3.79% to 8.70%.

For both the third quarter and the September 30 year, small plans with less than $1 billion outperformed large plans, due to greater U.S. equity exposure. Small plans were up by an average of 2.75% in the third quarter and 6.70% for the year ended September 30.

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