Product & Service Launches

Health-E Commerce Forms New Telehealth Collaboration with SmileSet

Health-E Commerce formed a telehealth partnership with SmileSet to let consumers purchase orthodontic impression kits, clear aligners, retainers and night guards with tax-free health care funds at its subsidiary websites, FSA Store and HSA Store.

Consumers who access SmileSet services through these stores will receive 25% off impression kits and 25% off custom aligners.

“Telehealth has the power to deliver convenient, clinically supported health care services that meet the budgetary needs and schedules of individuals and families across the country,” said Keri Kaiser, chief revenue officer for Health-E Commerce, in the announcement.

AllianceBernstein Launches AB US Equity ETF

AllianceBernstein Holding L.P. and AllianceBernstein L.P., a global investment management firm, announced on Monday the launch of AB US Equity ETF, an actively managed traded fund on the New York Stock Exchange. Citadel Securities is the lead market marker for the ETF, which has the ticker “XCHG.”

“XCHG, the latest addition to our expanding suite of active ETFs, was developed in collaboration with our Bernstein Private Wealth Management team,” said Noel Archard, AB’s global head of ETFs and portfolio solutions, in a statement.

XCHG’s investment objective is to seek long-term growth of capital by investing, under normal circumstances, at least 80% of its net assets in equity securities of U.S. companies.

XCHG joins AB’s growing U.S. lineup of 23 ETFs, which have more than $13 billion in assets under management, as of December 15. The firm had $865 billion in assets under management as of November 30.

Man Group Expands US Wealth Offering With 2 New ETFs

Global alternative investment manager Man Group PLC launched two exchange-traded funds, Man Active Emerging Markets ETF and Man Active Trend Enhanced ETF.

The actively managed funds, which listed on Nasdaq Wednesday with the tickers MEMA and MATE, respectively, were designed to provide mid-term to long-term capital growth.

MEMA will invest, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in equity and equity-related securities of emerging market issuers. The fund will identify stocks with prospects of long-term value creation often missed by short-term oriented investors and will objectively evaluate company fundamentals and intangibles. Its 130/30 strategy invests 130% of capital in stocks expected to rise and shorts 30% in stocks expected to fall, netting 100% market exposure.

Daniel Taylor and Ben Zhao are the portfolio managers primarily responsible for the day-to-day management of MEMA. They said in a statement that emerging markets equities are “exciting opportunity to diversity equity risk away from the US and the ‘Magnificent Seven.’”

MATE has 100% exposure to two strategies: global developed and emerging market equity and fixed income, as well as U.S. equity securities, U.S. equity ETFs and/or futures contracts on U.S. equity indexes.

Russell Korgaonkar and Giuliana Bordigoni are the portfolio managers primarily responsible for the day-to-day management of MATE.

Prudential Launches FlexGuard 2.0 with New Investment Allocation

Prudential Financial Inc. launched FlexGuard 2.0, its updated flagship retail registered index-linked annuity product lineup.

Updates include a flexible allocation feature, a simplified no-contract fee structure, expanded buffers and a broader set of index and exchange-traded fund investment crediting strategies.

“It builds on five years of market insights and customer and adviser feedback to deliver greater flexibility, usability and protection,” said Scott Gaul, Prudential’s head of individual retirement strategies, in a statement.

Prudential Financial is an active global investment manager with approximately $1.6 trillion in assets under management as of September 30. Prudential’s retirement strategies business provides more than $15 billion of protected income payments each year to more than 3 million participants.