Products May 12, 2010

SRI Options Added to Hartford Plans

The Hartford Financial Services Group is introducing investment options from three faith-based investment fund families into its retirement plans.
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A Hartford news release said the company is adding options from the Timothy Plan, the Luther King Capital Management (LKCM) Aquinas Funds, and the Ave Maria Mutual Funds to its lineup of 403(b), 401(a), 457 and 401(k) defined contribution retirement plans. The new funds are the Timothy Plan Large/Mid Cap Value Fund, the LKCM Aquinas Growth Fund, the LKCM Aquinas Value Fund, the Ave Maria Opportunity Fund, the Ave Maria Growth Fund, and the Ave Maria Rising Dividend Fund.

In addition, the Neuberger Berman Socially Responsive Investment Fund will be available through retirement plans from The Hartford.

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“We are seeing increased demand for more socially responsible investments, in this case faith-based funds. Interest on the part of nonprofit organizations such as churches and charities in sponsoring retirement plans is growing tremendously,” said Peter Moore, vice president of The Hartford’s public sector retirement sales, in the news release. “People who work for nonprofit organizations and others are expressing interest in socially responsible investment strategies, including faith-based funds.”

According to the news release, the new offerings are being extended to plan sponsors and their participants who are new to The Hartford. In addition, the funds will be made available to existing retirement plan sponsors and their participants over time and as they are requested, according to Moore.

Products May 12, 2010

SteelPath Launches MLP Alpha Fund

SteelPath has announced the launch of the SteelPath MLP Alpha Fund.
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The fund provides investors a concentrated portfolio of 20 energy infrastructure Master Limited Partnerships (MLPs) intended to result in substantial long-term capital appreciation through distribution growth and a 6.6% yield at present. Infrastructure MLPs generally operate toll-road businesses that do not take title to the commodities they transport, and are unaffected by the level of commodity prices. 

The MLP Alpha Fund provides 1099 tax reporting, qualified dividend treatment of taxable distributions, low investment minimums, and full daily liquidity at a transparent NAV. Taxable investors concerned about the burdens of K-1 filings and investors seeking to invest through IRA and 401(k) plans now have a product to participate in the energy infrastructure MLP asset class through the SteelPath funds, the announcement said. 

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Class A shares of the fund carry a minimum investment of $3,000 for individual investors, while the Class I shares have been created for institutional investors.  

More information is at www.steelpath.com.

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