New products introduced over the last week include a new small-cap value fund from Baird; two new funds from Fidelity; and three new investment managers and sixteen new funds for The Hartford's defined contribution retirement program offerings.
In addition, Neuberger Berman announced a long/short fund and Market Vectors introduced a new ETF.
Here are the latest developments of interest to advisors:
1) Baird Launches Small Cap Value Fund
Baird announced recently that it has launched the Baird Small Cap Value Fund (BSVIX/BSVSX). Michelle Stevens and her small-/mid-cap equity team will manage the new fund.
The fund is no-load and has a management fee of 0.85%. The expense ratio is 1.1% for the institutional class and 1.25% for the investor class.
2) Fidelity Investments Launches Global Equity Income Funds
Fidelity Investments announced Thursday the launch of its first global equity income funds: Fidelity Global Equity Income Fund (FGILX), available directly to investors, and Fidelity Advisor Global Equity Income Fund (FGABX), available through financial advisors. Ramona Persaud is the portfolio manager for both.
FGILX and FGABX compare their performance to the MSCI All Country World Index Net MA Tax Index. Fidelity has contractually agreed to cap expenses for Fidelity Global Equity Income Fund's, subject to certain exceptions, at 1.20% for the retail share class. It has also agreed to the following contractual expense caps, subject to certain exceptions, for the Advisor share classes: Class A (FBLYX): 1.45%; Class C (FGTNX): 2.20%; Class T (FGABX): 1.70%; and Institutional Class (FBUSX): 1.20%.
3) The Hartford Adds New Investment Managers, Funds
