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Wednesday, June 14, 2017

Lockwood Releases New Suite of Portfolios

Reported by Sophie Alexander

BNY Mellon’s Lockwood Advisors will release a suite of three distinct new portfolios concentrated around American Funds, the family of mutual funds from Capital Group. The news comes on the first day of Lockwood’s affiliate Pershing’s INSITE 2017 conference.

Joel Hempel
"We’ve tried to be deliberate in the timing. We’re very excited to talk about this at our INSITE conference," Joel Hempel, COO at Lockwood, tells MFWire.

The new portfolios will be available through Lockwood’s two-year-old managed accounts solution, Managed360. Existing clients of Managed360 will have access to the portfolios today. They will also be available within a client sponsored offering that leverages Lockwood investment strategies.

William Brady
Capital Group
The Lockwood/American Funds Core Portfolios was created by Lockwood’s investment team combining American Funds’ mutual funds with ETFs.

"Harmonizing active and passive investment vehicles is something we’ve been doing since 2003, so we’re capitalizing on that experience," Hempel says.

Hempel also says that working with American Funds was a logical alliance.

"We have had a longstanding relationship with American Funds. They’re a great partner because of their investment experience, global reach, and support in the field working directly with advisors," Hempel says.

Bill Brady, senior vice president of wealth management at Capital Group, echoes that sentiment in a press release.

"With our focus on low fees and a history of superior long-term outcomes, we believe American Funds will be an important ingredient in Lockwood’s portfolios designed to meet people’s real-life objectives," he states.

Lockwood has over $7.4 billion in assets under management as of March 31, 2017 and Capital Group manages more than US$1.4 trillion in equity and fixed income assets as of December 31, 2016.  

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