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CA Firm Launches 12 CIF Offerings
401kDIRECT Network has introduced nine individual ETF collective investment funds (CIF) and three (Conservative, Balanced,&Growth) ETF CIF Strategy Portfolios that will be available to qualified plans.
Reported by Fred Schneyer
The ETF CIFs are sub-advised by portfolio strategist Barclays Global Investors (BGI), State Street Global and other ETF managers, according to a company news release.
Pooling ETF assets using CIFs allows asset allocation solutions to be offered to multiple plans at a lower cost, the company asserted. The actively managed allocation portfolios are customized according to a specific investment objective.
The company said the new offerings were launched on Monday.
401kDIRECT is based in Campbell, California. More information is at http://www.401k-direct.com/.