AssetMark Financial Holding moves to institutional share classes; AssetMark adds solutions to investing platform; iShares expands ESG initiatives; and more.
FIDx and Transamerica partner to provide annuities; Fidelity adds customized models to AMP solution; J.P Morgan improves TDF analysis tool; and more.
Mesirow Financial presents third mutual fund and managed account program, and MSCI builds indexes to track long-term megatrends.
“We’ve heard the need for these investment options in 403(b) plans from advisers, consultants and plan sponsors for decades,” says Bruce Corcoran, managing vice president/head of 403(b) Business at ICMA-RC.
The two entities look to encourage CIT adoption among investors, a move that they say has stalled due to low awareness of the funds.
Morningstar releases goals-based planning solution; Schwab adds account conversion feature to portfolios solution; and AssetMark to offer Savos personal portfolios.
While they have grown at a compound annual growth rate of 7.25% a year in the past five years, if advisers were better educated about them and if the transparency issue could be addressed, that growth could rise significantly, according to the research firm.
A BrightScope/ICI study also found collective investment trusts (CITs) accounted for a larger share of assets in larger plans than smaller plans.
Many retirement plan participants want to deploy their values in their portfolios, as do portfolio managers; advisers can help make this happen.
This is driving providers to offer inexpensive options, such as series that rely on CITs and passive funds, Morningstar says.
HB&T creates a collective investment fund with Jensen Investment Management, while Principal and NDW launch a new ETF model portfolio.
The CIT product information database was created in collaboration with Broadridge Advisor Solutions and is designed to support the client service needs of financial advice professionals.
Cerulli says retirement specialist advisers are becoming more knowledgeable about and comfortable with CITs, and the research firm expects CITs will continue to expand their share of 401(k) plan assets.
MassMutual Introduces New TDFs; J.P. Morgan Updates TDF Selection Tool; and Krane Funds Advisors Creates CIT for Retirement Plans.
The lawsuit alleges Principal used proprietary investment vehicles, rather than other investment vehicles, and share classes with higher fees for the underlying TDF investments, to produce more income for itself and its subsidiaries.
Within U.S. equities, the asset classes they see the most promise in are technology and small cap.
U.S. collective investment trusts assets have grown to roughly $2.8 trillion, according to Cerulli Associates; much of they money is in target-date funds.