Compass EMP Funds
is expanding its funds lineup, and its doing so drastically.
The Brentwood, Tennessee-based firm is launching 13 new funds, bringing its lineup to 16.
The firm has eight indexes, according to Todd Meucci
, the shop's national sales chief.
"There is so much money chasing the S&P 500, but it is not a broad index," says Stephen Hammers, Compass' chief investment officer. "Most of the returns come from the top few stocks at the top of the index."
The indices for these funds, according to Hammer, base the stock allocations on their risk contribution.
Meucci said the shop has a team of 18 internal and 20 external wholesalers ready to sell the new products.
"We have 80 sales agreements for our three current funds," he said in an interview with MFWire
. The new funds have already been approved at a dozen of those outlets.
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