Turnkey asset management program AssetMark is to launch three more fund of funds.
The firm has filed with the Securities and Exchange Commission for the GuidePath Conservative Income fund, GuidePath Income fund and the GuidePath Growth and Income fund, according to a document filed with the Securities and Exchange Commission.
The firm currently has seven GuidePath funds and seven GuideMark funds. GuidePath funds invest in other mutual funds, GuideMark funds invest in individual securities on a subadvised basis.
The GuidePath Conservative Income fund will invest in mutual funds and ETFs which are primarily allocated to government debt, corporate debt, bank loans, high-yield bonds and emerging market debt among other asset classes.
It will target bond maturity between 0 and 5 years and is allowed up to a 33% allocation in bonds below investment grade and 20% in foreign currency denominated securities.
The GuidePath Income fund will invest in mutual funds that hold allocation to both domestic and international fixed income in addition to international equities. Its target maturity range is between 1 and 10 years and its target quality is BBB or higher.
It has the ability to hold a 50% allocation to bonds below investment grade and up to 20% in securities denominated in foreign currencies.
The GuidePath Growth and Income fund will invest in funds allocated to various types of debt including government, corporate and bank loans in addition to domestic and foreign stock, convertible debt securities and American depository receipts.
It is allowed up to 30% of assets in securities denominated by foreign currencies.
Jerry Chafkin, chief investment officer of AssetMark, in addition to Zoe Brunson, senior vice president of investment strategies and Gary Cox, director or portfolio management, are responsible for selecting the underlying funds which have not yet been named.
It is understood that the funds will be part of a new income solution which the firm is working on.