According to a company announcement, Advanced, a quantitative equity fund manager and member of State Street Global Alliance LLC, is launching two new equity products – an Enhanced S&P 500 fund and SmidCap fund.
Advanced, which has also changed its name to Advanced Investment Partners, said the Enhanced S&P 500 product is designed to carry a lower risk than the LargeCap fund in an enhanced index format.
The SmidCap product uses the Russell 2500 as a benchmark.
Advanced’s existing active equity funds include AllCap, LargeCap, Long/Short Market Neutral, and MaxCap strategies.
Formed in 1996, Advanced Investment Partners manages $700 million in assets for institutional and high-net-worth individuals.