Hitting one hundred
The Pimco Income fund has surpassed the $100 billion mark, hitting $102.4 billion for the end of August.
It is ranked second out of 78 Multi-Sector Income funds tracked by Citywire for three-year total returns to the end of September. Over that time it returned 19.7% compared to the average Multi-Sector Income fund which was up 10.5%.
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Alliance Bernstein is taking an environmentally friendly approach with the upcoming revamp of the $316.3 million AB International Growth fund.
The fund will be renamed to the AB Sustainable International Thematic fund to reflect its new environmental, social and governance (ESG) focus, according to a Securities and Exchange Commission (SEC) filing.
The makeover, slated for January 8 2018, includes a strategy change, whereby the fund will invest in international equities involved in sustainable themes like climate, health and empowerment.
The fund will use a bottom-up investment style focused on each individual company’s traits rather than using negative screens to evaluate ESG strength.
Additionally, William Johnston has been added as a portfolio manager, joining Citywire A-rated Daniel Roarty.
The fund ranked 86 out of 109 Multi-Cap Growth funds tracked by Citywire for three-year total returns to the end of September. Over that time it returned 15.1% compared to the average Multi-Cap Growth fund, which was up 21.4%.
SEI Investments is to launch the SEI US Equity Factor Allocation fund in 2018, according to a SEC filing.
The fund will be managed by Eugene Barbaneagra and will have an annual management fee of 25 basis points.
It will use a quantitative model to select domestic equity securities based on factors like volatility, value and share price performance.
Barbaneagra has been with the firm for 15 years and also manages the $1.6 billion SEI US Managed Volatility, the $1.5 billion SEI Global Managed Volatility fund and the $338.1 million SEI Small Cap Growth fund, among other funds.
The firm already has 12 allocation funds and the $2.6 billion SEI Dynamic Allocation fund, which is subadvised by State Street Global Advisors.
Going for gold
BlackRock’s iShares is to launch the iShares Gold Exposure exchange-traded fund (ETF), according to a SEC filing.
The fund will invests in exchange-traded gold futures contracts in addition to other derivatives that hold correlation to investment returns on gold.
The team will use factors to determine what percentage of the fund is invested in gold. Some factors include performance of gold investments in relation to one another, price differences and other market conditions.
Although it is in active ETF, the fund will still closely track the Bloomberg Composite Gold index.
iShares already offers the iShares MSCI Global Gold Miners ETF, however that fund is passive, tracks the MSCI ACWI Select Gold Miners Investible Market index and invests directly in gold mining companies.
Betting on blockchain
Reality Shares Advisors is to partner with Nasdaq on the Reality Shares Nasdaq Blockchain Economy ETF.
The fund will be managed by Eric Ervin, president and co-founder of Reality Shares and will track the Reality Shares Nasdaq Blockchain Economy index.
The index is comprised of companies which develop, research and innovate blockchain technology.
Blockchain technology includes technology to enhance efficiency of cross-border payments, build cloud-based methods to store digital data and improve cyber security.
The companies must have at least a $200 million market cap to be considered, with the remaining pool then scored based on ability to benefit most from advancements in blockchain technology.
The top 50 to 100 companies with the highest score are included in the index and weighted according to their ranking.