New products and changes introduced over the last week include the partnership announced between Abacus Group and Imagineer Technology Group that will host the latter's software platform in the former's private cloud and Paulson & Co. opened two new share classes for its Advantage funds.
In addition, Invesco PowerShares announced a special dividend for PowerShares QQQ (QQQ).
Here are the latest developments of interest to advisors:
Paulson & Co. Announces Two Additional Share Classes for Advantage Funds
Paulson & Co. has announced that it is now offering two additional share classes for its Advantage funds that offer different liquidity terms for different fees.
Paulson Advantage L.P. and Paulson Advantage Ltd. are now available in B shares that permit monthly withdrawals on 60 days' notice instead of the once-a-quarter withdrawals permitted in existing shares; the B shares, however, carry a 2% management fee instead of the existing shares' 1.5%. C shares permit only once-a-year withdrawals but the management fee is only 1%.
Advantage Plus C shares offer quarterly liquidity in exchange for a 2% management fee, while D shares only carry a 1.25% management fee and allow only once-a-year withdrawals.
All investors pay a 20% performance fee.
