What You Need to Know
- The Delaware Wilshire Private Markets Fund provides access to private equity, private credit and alternative yield assets.
- BlackRock has plans to close seven iShare ETFs and implement stock splits for two.
- WisdomTree, Janus Henderson and Amplify ETFs launch new ETFs.
Macquarie Asset Management joins the growing number of asset managers launching a private markets fund for accredited or qualified investors.
In partnership with Wilshire Advisors LLC (Wilshire), Macquarie has launched the Delaware Wilshire Private Markets Fund, which provides access to an institutional-quality diversified private markets portfolio, including private equity, private credit, alternative yield, and private real assets for accredited investors.
“The launch of Delaware Wilshire Private Markets Fund helps to democratize the private markets for individual investors and expand access to strategies with historically higher returns, lower volatility, and more diversification,” said Shawn Lytle, global head of Public Investments, Macquarie Asset Management, in a statement.
Wilshire Advisors will assemble the diversified private markets portfolio, which emphasizes small- and mid-cap private equity, and specialized alternative yield managers. Its flexible mandate enables the strategy to pivot toward the most attractive opportunities, according to Macquarie.
As part of that democratization mission, Macquarie has partnered with +SUBSCRIBE to offer advisors and their clients an electronic subscription process, consolidated reporting and data in a central information hub. Shares should only be acquired by investors able to commit their funds for an indefinite period.
BlackRock Plans ETF Closings and Share Splits
As part of an ongoing process to periodically review its product lineup, BlackRock, which has $2.8 trillion in ETF assets, announced plans to close seven iShares ETFs and implement stock splits for two.
Trading in the seven closed funds will be halted prior to the market open on Aug. 24, after which the funds will be liquidated, with proceeds of the liquidation currently scheduled to be sent to shareholders on or around Aug. 26.
Share splits for the two ETFs will take effect for shareholders of record as of the close of business on July 14, payable after the close of trading on July 16. The funds will trade on a post-split basis on July 19. The splits will lower the share price and increase the number of outstanding shares but not affect the total value of shares outstanding.
The seven ETFs to close are the iShares Factors US Blend Style ETF (STLC), the iShares Factors US Mid Blend Style ETF (STMB), iShares Factors US Small Blend Style ETF (STSB), iShares Currency Hedged MSCI Mexico ETF (HEWW), iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA), iShares International Preferred Stock ETF (IPFF) and iShares Russell 1000 Pure U.S. Revenue ETF (AMCA).
Two two ETFs that will split shares 6 for 1 are the iShares Global Tech ETF (IXN) and the iShares U.S. Medical Devices ETF (IHI). Both currently have share prices above $300 each.
WisdomTree Launches New Equity ETF
WisdomTree has launched the U.S. Growth & Momentum Fund (WGRO), which tracks the O’Neil Growth Index, aimed at improving the timing of entry points during small market pullbacks and avoiding buying stocks that are considered too expensive to buy, based on the O’Neil technical stock trading methodology.
WGRO is expected to focus on positive relative strength and invest in sectors, industries and individual names that can be viewed as market leaders. It trades on the Nasdaq and has a 0.55% net expense ratio.
Janus Henderson Adds a Real Estate ETF
Janus Henderson has introduced the Janus Henderson U.S. Real Estate ETF (JRE), an actively managed ETF that invests in high-conviction REITs and securities tied to real estate such as cell towers, data centers and cold storage.