AssetMark Retains Wellington Management for Mutual Fund and Private Account Program.PLEASANT HILL, Calif. -- AssetMark Investment Services, Inc., a leading investment management and consulting firm, today announced the addition of Wellington Management Company Wellington Management Company is a Boston, Massachusetts based investment management firm. Founding and Early Years Wellington Management Company was incorporated in Philadelphia, Pennsylvania in 1933, five years after the creation of the Wellington Fund by Walter L. , LLP LLP - Lower Layer Protocol as Sub-advisor to the AssetMark Large Cap Growth Fund. The Fund is part of the growing multi-manager family of AssetMark Funds, which exceeds over $3 billion in assets. In addition, Wellington Management will join AssetMark's Consolidated Managed Accounts program, a privately managed asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. solution that combines multiple investment managers into a single customized account. AssetMark offers asset allocation portfolios implemented though no-load mutual fund No-load mutual fund An open-end investment company whose shares are sold without a sales charge. There can be other distribution charges, however, such as Article 12B-1 fees. A true no-load fund has neither a sales charge nor a distribution fee. , variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. , exchange traded fund Exchange Traded Fund Similar to an index mutual fund, these tracking stocks trade continuously. Two popular ETFs are the Standard and Poor's depositary receipt (SPDR) launched in 1993 and the NASDAQ-100 Index Tracking Stock (QQQ) which was launched in 1999. , and privately managed account solutions to high net worth investors through a national network of broker-dealers and independent Registered Investment Advisors. Wellington Management was selected in conjunction with Wilshire Associates, a leading global investment management, investment consulting, and investment technology firm, whom AssetMark has retained to provide manager research and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. in the selection of Best of Class managers for privately managed accounts. "The addition of Wellington Management to our investment platform further illustrates our commitment to providing superior institutional investment solutions to our Advisors," stated Ronald Cordes, Chairman of AssetMark Investment Services. "We believe it's important to provide Advisors with an open architecture platform to help them meet the diverse needs of their clients. The addition of Wellington Management further exemplifies our dedication to providing Advisors with a broad range of investment solutions." Wellington Management is one of America's oldest investment management firms. Based in Boston with nine affiliate offices in the United States and around the world, Wellington Management provides investment services to many of the world's leading public and private institutions. About AssetMark Investment Services, Inc. AssetMark Investment Services, Inc. was founded in 1996 and is one of the industry's leading providers of fee-based investment management solutions for investment advisors, broker dealers, banks and CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. firms. The company provides services to over 1,500 advisory firms, and administers more than 40,000 investor portfolios with total assets exceeding $13 billion. AssetMark is part of Genworth Financial, a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, with operations in 24 countries. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion