June 22, 2017 | Permalink
Fund Name: T. Rowe Price Multi-Strategy Total Return Fund, Inc.
Adviser: T. Rowe Price Associates, Inc.
Sub-Adviser(s): None
Fees: 1% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: For Investor and Advisor Class Shares: $2,500 minimum initial investment ($1,000 minimum initial investment if opening an IRA, a custodial account for a minor, or a small business retirement plan account), $100 minimum subsequent investment; For Class I Shares: $1,000,000 minimum initial investment, no minimum subsequent investment
Filing Date: June 9, 2017
Effective Date: Pending
   
Fund Name: Nuveen Emerging Markets Debt 2022 Target Term Fund
Adviser: Nuveen Fund Advisors LLC
Sub-Adviser(s): Teachers Advisors LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: June 9, 2017
Effective Date: Pending
   
Fund Name: NorthStar Real Estate Capital Income Fund-ADV
Adviser: CNI RECF Advisors LLC
Sub-Adviser(s): None specified
Fees: Management fee paid at the Master Fund level - fee calculated at an annual rate of 1.25% of the Master Fund's average daily net assets.
Open- or Closed-End: Closed-End (Feeder fund)
Investor Restrictions: $4,000 minimum initial investment, $100 minimum subsequent investment
Filing Date: June 1, 2017
Effective Date: Pending
   
Fund Name: Putnam PanAgora Managed Futures Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 1% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
   
Fund Name: PanAgora Market Neutral Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 1.3% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
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June 20, 2017 | Permalink
The SEC announced Robert Evans III was named deputy director of the Division of Corporation Finance, joining deputy director Shelley Parratt as a senior advisor to director William H. Hinman. Evans most recently worked as a capital markets attorney, advising on public and private offerings, securities law compliance and corporate governance.
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June 13, 2017 | Permalink
Catalyst Funds announced the acquisition of the Exceed Defined Shield Fund, which it will rebrand as the Catalyst Exceed Defined Shield Fund (SHIIX). Huntington, N.Y.-based liquid alternative mutual fund specialist Catalyst will preserve the fund's same investment strategy of tracking the performance of the NASDAQ Exceed Defined Protection Index, before fees and expenses, through long and short option positions with exposure to the S&P 500 Index. The fund's strategy tracks a basket of four rolling "defined outcome" investments, which both seek to limit losses to approximately the first 12.5% of S&P 500 Index losses on an annualized basis while also finding annual upside participation in the index to a maximum gain of 15%, even if the index's annual performance exceeds that amount.
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June 13, 2017 | Permalink
The SEC's exam team is warning investment advisers that many are failing to perform steps critical to fighting cybersecurity attacks. In specific, a relatively high percentage of advisers examined are failing to conduct continuous cyber-risk assessments, nor are they performing penetration or venerability tests. The shortcomings were far higher among investment advisers than among broker-dealers, and concerns raised by the WannaCry attack were particularly relevant to smaller firms. The weaknesses were discovered during the second round of cybersecurity exams under a 2014 exam initiative. The SEC conducted 75 examinations of SEC-regulated entities, aimed at assessing cybersecurity preparedness, including the firm's ability to protect client information.
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June 8, 2017 | Permalink
The SEC announced acting director Stephanie Avakian and former federal prosecutor Steven Peikin will serve as co-directors of the Division of Enforcement. Avakian has been acting director since December 2016 after serving as deputy director since June 2014. She previously practiced securities law, representing financial institutions, public companies and others in investigations and other matters before the SEC and other agencies. Peikin was most recently managing partner of a Criminal Defense and Investigations Group, where he practiced white-collar criminal defense, regulatory enforcement and internal investigations. The Division of Enforcement is the agency's largest unit and is home to more than 1,200 investigators, accountants, trial attorneys and other professionals.
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June 8, 2017 | Permalink
Fund Name: NorthStar Real Estate Capital Income Fund-ADV
Adviser: CNI RECF Advisors LLC
Sub-Adviser(s): None specified
Fees: Management fee paid at the Master Fund level - fee calculated at an annual rate of 1.25% of the Master Fund's average daily net assets.
Open- or Closed-End: Closed-End (Feeder fund)
Investor Restrictions: $4,000 minimum initial investment, $100 minimum subsequent investment
Filing Date: June 1, 2017
Effective Date: Pending
   
Fund Name: Putnam PanAgora Managed Futures Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 1% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
   
Fund Name: PanAgora Market Neutral Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 1.3% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
   
Fund Name: Putnam PanAgora Risk Parity Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 0.75% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
   
Fund Name: Vivaldi Opportunities Fund
Adviser: Vivaldi Asset Management LLC
Sub-Adviser(s): RiverNorth Capital Management LLC and Angel Oak Capital Advisors LLC
Fees: Management fee payable on a monthly basis at the annual rate of 1.4% of the Fund's average daily Managed Assets.
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: $1,500 minimum initial investment, $500 minimum subsequent investment
Filing Date: May 22, 2017
Effective Date: Pending
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June 7, 2017 | Permalink
The Wall Street Journal reports that the SEC plans to hire attorney Dalia Blass as the head of its Division of Investment Management, which oversees mutual funds, private equity companies, ETFs, hedge funds and registered investment advisors. Prior to returning to private practice, Blass previously served as assistant chief counsel in the Division of Investment Management.
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June 1, 2017 | Permalink
Recently confirmed SEC chairman Jay Clayton released a request for comment from retail investors and other stakeholders regarding investment advice standards. While the Department of Labor's Fiduciary Rule is set to begin implementation on June 9, it also faces a review under the direction of President Donald Trump and has been criticized as encroaching on the SEC's regulatory jurisdiction. The financial industry, which has been largely critical of the rule, welcomed the new SEC chairman's invitation to provide feedback. Comments can be submitted to the SEC via webform or email.
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May 31, 2017 | Permalink
JP Morgan and Morningstar are partnering to launch a strategy providing investors with access to a synthetic basket of liquid alternative funds. The JP Morgan Morningstar Alternative Strategy will leverage Morningstar's investment management team to select UCITS-compliant fixed income, multi-asset, and equity alternative investment funds. JP Morgan will act as sponsor and calculation agent, giving non-U.S. retail and institutional investors with access to the strategy.
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May 25, 2017 | Permalink
Fund Name: Putnam PanAgora Managed Futures Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 1% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
   
Fund Name: PanAgora Market Neutral Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 1.3% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
   
Fund Name: Putnam PanAgora Risk Parity Fund
Adviser: Putnam Investment Management LLC
Sub-Adviser(s): PanAgora Asset Management Inc.
Fees: 0.75% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment (currently waived; Putnam reserves the right to reject initial investments of less than $500 at its discretion)
Filing Date: May 23, 2017
Effective Date: Pending
   
Fund Name: Vivaldi Opportunities Fund
Adviser: Vivaldi Asset Management LLC
Sub-Adviser(s): RiverNorth Capital Management LLC and Angel Oak Capital Advisors LLC
Fees: Management fee payable on a monthly basis at the annual rate of 1.4% of the Fund's average daily Managed Assets.
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: $1,500 minimum initial investment, $500 minimum subsequent investment
Filing Date: May 22, 2017
Effective Date: Pending
   
Fund Name: Invesco High Income 2024 Target Term Fund
Adviser: Invesco Advisers Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: May 10, 2017
Effective Date: Pending
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