Top Portfolio Products: Fidelity Launches Two New Bond Funds

2) Palmer Square Announces Launch of Alternative Income Mutual Fund

Palmer Square Capital Management LLC announced on Tuesday the introduction of the Palmer Square SSI Alternative Income Fund, offering investor (PSCAX) and institutional (PSCIX) share classes. In partnership with Montage Investments, Palmer Square and SSI have raised approximately $160 million of investment capital to launch the fund. It is sub-advised by SSI Investment Management.

It seeks absolute returns and a steady income stream by investing long in convertible securities and by establishing short positions in the common stock of the issuers of those convertible securities.

3) Thornburg Investment Introduces R6 Share Class

Thornburg Investment Management, Inc. recently announced the introduction of its first-ever R6 share class, available through its International Value Fund. The shares will be offered through defined contribution pension plans, only charge an investment advisory fee and other fund expenses, and are free of 12(b)-1 or other shareholder servicing fees. It anticipates offering R6 share classes for other Thornburg funds in the future.

Also, in keeping with new pension regulations from The Department of Labor set to go into effect in July, the R6 shares will enable plan sponsors to separate mutual fund expenses from their recordkeeping and other service provider fees when determining if fees paid for plan services are reasonable.

4) Securian Unveils New GLWB with MultiOption Variable Annuities

Securian announced on Wednesday the introduction of its Ovation Lifetime Income II guaranteed living withdrawal benefit (GLWB) rider, an optional rider available with certain Securian MultiOption variable annuities for an additional cost (1.20% on the greater of contract value or benefit base value). The rider provides a benefit designed to guarantee annual withdrawals from the annuity contract, up to an annual limit, beginning the later of the contract anniversary following the purchaser's 59th birthday or the date the rider is elected.

Some of the rider features include 6% compound benefit base enhancement and a benefit base guarantee that doubles the benefit base after 10 years or the client's 70^th birthday, if no withdrawals have been taken. There is also a CustomChoice allocation that allows advisors to assist clients in selecting their own investments, up to a 70% equity/30% fixed income portfolio. Election of the rider does require use of an approved allocation strategy. Increased withdrawal flexibility allows clients to take withdrawals if needed without canceling the 6% benefit base enhancement feature.

Read the May 25 Portfolio Products Roundup at AdvisorOne.com