Product & Service Launches – 11/30/23

T. Rowe Price Launches Capital Appreciation and Income Fund

T. Rowe Price announced the launch of the Capital Appreciation and Income Fund. The fund is an addition to the Capital Appreciation suite and seeks to generate strong risk-adjusted total returns through a combination of capital appreciation primarily from stocks, income from stock dividends and interest income from the fund’s fixed-income holdings.

The Capital Appreciation and Income Fund is one of three vehicles within the Capital Appreciation suite, which also includes the Capital Appreciation Fund and the Capital Appreciation Equity ETF.

It shares a common investment approach with other strategies in the suite by pursuing strong risk-adjusted returns, identifying undervalued investment opportunities and exploiting market inefficiencies. The fund normally invests 50% to 70% of its net assets in fixed income and other debt instruments and 30% to 50% of its net assets in common and preferred stocks.

“With the addition of the new Capital Appreciation and Income Fund, we’re expanding the reach of our investment capabilities to a broader set of clients, especially those who prioritize current income and enhanced capital preservation,” said David Giroux, the fund’s co-portfolio manager, in a statement.

Brighthouse Financial Launches Suite of Fixed-Indexed Annuities

Brighthouse Financial Inc. announced the launch of Brighthouse SecureKey Fixed Indexed Annuities, a suite of single premium deferred fixed-indexed annuities that can help clients keep their plans for retirement on track by providing features and benefits designed to fill multiple needs in a portfolio.

Clients can choose to earn returns through indexed accounts linked to the performance of one or more well-known market indices. Alternatively, clients have the option of selecting the fixed account, which applies an annual guaranteed interest rate, should clients desire a more consistent method to grow their retirement funds.

Additionally, Brighthouse SecureKey offers ReadyPay, an optional guaranteed lifetime withdrawal benefit rider that can provide a stream of guaranteed lifetime income for one or two people. ReadyPay uses an income base to determine future income amounts.

“With a balance between safety and the potential for market growth, Brighthouse SecureKey is an option that can be added to a portfolio that features multiple benefits designed to help clients turn their retirement goals into reality,” Myles Lambert, Brighthouse Financial’s chief distribution and marketing officer, said in a statement.

ShareBuilder 401k Waives Setup Costs for Solo 401(k), Small Business 401(k) Plans

ShareBuilder 401k, a provider of low-cost digital retirement plans, is waiving 401(k) plan setup costs for a limited time. Plans are available for any sized business, including the self-employed.

From November 29 through December 20, companies with more than one employee can save up to $995 in setup costs by starting a Small Business 401(k) plan with ShareBuilder 401k. During the same period, self-employed business owners can start a new Solo 401(k) plan and skip the standard setup charge of $150.

“Inflation has people looking for new ways to save money,” Stuart Robertson, CEO of ShareBuilder 401k, said in a statement. “Starting a 401(k) can help business owners and their employees put away more funds while reducing personal and business taxes. So, it’s not only great for you, it’s also an excellent benefit for companies to offer.”

ShareBuilder 401k also offers high-yield money market accounts. In case of emergencies, 401(k) account holders can borrow against their 401(k) with a penalty-free loan.