Deals & People November 12, 2013

Envestnet Names Global Strategy Head

Zachary Karabell has joined Envestnet Inc. as head of global strategy, where he is tasked with helping advisers navigate the global economy’s impact.
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Karabell will help shape and communicate the firm’s investment perspective and deep research capabilities to clients and the media, and advise the investment committee of Envestnet/PMC, in connection with PMC’s portfolio solutions.

In addition to crafting market strategy and providing regular commentary about the global economy and financial markets, Karabell will work with the senior management of Envestnet on overall corporate strategy, branding and market position. One focus of Envestnet is helping advisers translate a myriad of market and investment information into intelligence that directly supports better investment outcomes, the company said in a statement.

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Karabell previously was executive vice president, chief economist and head of marketing at Fred Alger Management, a New York investment firm where he led the creation, launch and marketing of several funds as well as corporate strategy for strategic acquisitions. He also was president of broker/dealer Fred Alger and Co., portfolio manager of the China-U.S. Growth Fund and executive vice president of Alger’s Spectra Funds, a no-load family of mutual funds that included the Spectra Green Fund.

Karabell holds a doctoral degree from Harvard University and has taught at several institutions, including Harvard and Dartmouth College. He has written 11 books on economics, investing, history and international relations, and was designated a “Global Leader for Tomorrow” by the World Economic Forum in 2003. Karabell writes the “Edgy Optimist” column for Reuters and The Atlantic, and is a commentator on CNBC and MSNBC.

Products November 12, 2013

Pershing to Release New Mutual Fund Listing

Pershing LLC, a BNY Mellon company, announced plans to launch a research-based mutual fund listing that can help advisers balance portfolios across 40 investment categories.
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Under the name FundVest 200, the mutual fund listing will soon be available on Pershing’s mutual fund platform. Pershing engaged Lockwood Advisors to monitor the listing in accordance with BNY Mellon Manager Research Group’s proprietary research process.

Pershing’s broker/dealer and registered investment adviser (RIA) clients can access the list at no additional cost.

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The listing’s research process focuses on a mutual fund’s qualitative factors, such as organizational structure, personnel, philosophy and investment process, said Jamie Lewin, chief investment officer of Lockwood Advisors and head of manager research for BNY Mellon Investment Management.

“We are seeking to identify mutual funds that we believe possess the necessary characteristics to potentially achieve anticipated investment outcomes for investors, not simply those with attractive historical returns,” Lewin said.

The first stage of the FundVest 200 rollout will occur in the fourth quarter of 2013. Each fund included in the listing will have an accompanying report.

Lockwood, in conjunction with the BNY Mellon Manager Research Group, will reevaluate the list on an ongoing basis. Lockwood will also host periodic adviser calls to discuss the FundVest 200 investment selections.

Pershing expects to expand the listing early next year to reach 200 funds from 40 investment categories, including non-traditional asset classes. No mutual funds managed by BNY Mellon-affiliated investment managers were or are considered for inclusion in the listing.

For more information on FundVest 200 visit www.pershing.com.

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