Through the ASAE Retirement Trust, organizations gain access to institutional pricing that’s often out of reach for many associations and nonprofit organizations, the company says.
The Trust,
created through ASAE Business Services, Inc. (ABSI), ASAE’s wholly-owned
subsidiary, delivers a retirement plan that is designed to help
organizations address two pressing talent management challenges:
financial retirement readiness among current staff and attracting and
retaining high quality, skilled employees in an increasingly competitive
workforce.
Empower Retirement has been engaged to market and distribute the plan within the association and nonprofit community.
Through
the ASAE Retirement Trust, organizations gain access to institutional
pricing that’s often out of reach for many associations and nonprofit
organizations. “We wanted to build a retirement program that’s unique to
the association market and reflects the values of our community. The
ASAE Retirement trust delivers essential features, customized for the
association market, and provides experts who will advise and monitor
investment choices and take care of plan administration. Through the
ASAE Retirement Trust, organizations gain the ability to deliver a
fantastic benefit to their current employees and bolster their appeal
among prospective employees,” says ASAE President and CEO John H.
Graham, IV.
Northern Trust subsidiary joins forces with alternatives
specialist Aurora Investment Management; Vanguard Launches international high-dividend
yield index fund and dividend appreciation index fund.
50 South Capital Advisors to Acquire Aurora Investment
Management
50 South Capital Advisors, an investment advisory subsidiary
of Northern Trust Corporation, announced the pending acquisition of the
investment management business of Aurora Investment Management, a subsidiary of
Natixis Global Asset Management.
According to the firms, the addition of Aurora to the
Northern Trust Corporation family of companies will offer clients of both firms
access to an “expanded global alternative investment platform with the size and
resources to deliver comprehensive hedge fund, private equity and real asset
solutions.”
“This strategic acquisition supports our objective as a
trusted asset manager to provide solutions that are suited to client investment
objectives and risk tolerances,” explains Northern Trust Chairman and Chief
Executive Officer Frederick Waddell. “We are pleased to take this step and
significantly grow our alternative investment capabilities to help investors
meet the challenges of high volatility and persistent low yields in financial
markets.”
Roxanne Martino, CEO of Aurora, adds that the cultures of 50
South Capital and Northern Trust are a good fit and should drive “highly
complementary investment capabilities and … a strong platform for
growth.”
For nearly 30 years, Aurora has been a manager of hedge fund
strategies, “with expertise in seeding and co-investing with investment
managers and a strong base of high net worth and institutional investors,
including corporate and public pension funds, foundations and endowments,
insurance companies and health care organizations.”
The combination will significantly expand 50 South Capital’s
alternative investment capabilities with the addition of the Aurora investment
team that averages more than 20 years of investment experience and brings new
capabilities in emerging manager, co-investment and liquid alternatives
strategies.
The acquisition is subject to customary closing conditions
and is anticipated to close in the third quarter of 2016. For more information,
visit www.50SouthCapital.com.
NEXT: Vanguard adds to index fund lineup
Vanguard Launches Two New Index Funds
Vanguard launched the firm’s first two dividend-oriented international index
funds, featuring low-cost mutual fund and ETF shares.
The new funds are the Vanguard International High Dividend
Yield Index Fund and the Vanguard International Dividend Appreciation Index
Fund.
Vanguard explains the International High Dividend Yield
Index Fund follows an income investing strategy, focusing on companies with
high dividend yields. The fund will “seek to track the FTSE All-World ex US
High Dividend Yield Index, a benchmark of more than 800 of the highest yielding
large- and mid-cap developed and emerging markets securities.”
The International Dividend Appreciation Index Fund
emphasizes stocks “exhibiting dividend growth and seeks to track the Nasdaq
International Dividend Achievers Select Index, which comprises more than 200
all-cap developed and emerging markets stocks with a track record of increasing
annual dividend payments.”
The funds are available to retirement plans and offer three
low-cost share classes, including exchange-traded fund (ETF) shares. For the
International High Dividend Yield Index Fund, an initial investment of $3,000
will be assessed a 40-basis points fee, while $10,000 will make an investor
eligible for a 30-basis points fee, either in a mutual fund or ETF wrapper. For
the International Dividend Appreciation Index Fund, a minimum investment of
$3,000 sets the fee at 35 basis points, decreasing to 25 basis points for
investments above $10,000.
The firm says the new funds “will complement Vanguard’s
existing domestic dividend-oriented index funds: The $16 billion Vanguard High
Dividend Yield Index Fund and the $23 billion Vanguard Dividend Appreciation
Index Fund.”