PNC Investments Creates List of Recommended Liquid Alts Funds

August 25, 2019 | Liquid Alternatives, News

PNC collaborates with Morningstar on new liquid alts project

PNC Investments has launched a recommended list of liquid alternative mutual funds. The broker-dealer arm of PNC Financial is creating the PNCI Liquid Alternatives Conviction list consists of 18 open-ended mutual funds. The firm’s five-person diligence team collaborated with Morningstar’s manager selection team to build the list.

The two teams also collaborated on an ESG recommendation list last year. That list consisted of 37 ETFs and mutual funds for ESG purposes. The group’s primary conviction lists now comprise nearly 240 mutual funds and 140 ETFs

‘We continually look at the platform, and look at the competitive environment, to see where we might have any gaps or opportunities to expand our product shelf,’ said PNC Investments’ diligence chief Lawrence Wasserman.

Wasserman was promoted in March 2019 to his role. The firm recently added a new analyst earlier this month.

PNC Investments on Allocation

CityWireUSA quoted Wasserman on the company’s commitment to allocation to liquid alts.

“We’ve always had an allocation in some of our advisory models to liquid alternatives, though we didn’t really have much in the way of a selection menu for the brokerage side of the business. Having Morningstar help us build this conviction list is another way that we’ve been executing on filling any gaps and meeting client needs on the platform,” he said.

He also discussed how certain clients many benefit from liquid alternative investment opinions and product recommendations.

“We want clients to be able to have the appropriate tools in the toolbox to be able to get the diversification they need in their portfolios,” he said “We don’t look at liquid alternatives as a panacea, but in the right cases, for the right clients, they can be a decent diversifier in a portfolio and can lead, in some cases, to enhanced diversification for clients.”


Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Alternative Investments/Digital: Two Canadian Fund Managers Launch Metaverse Themed ETFs
December 1, 2021     Alternative Investments, Digital Assets, News

Canadian fund managers Horizons ETFs and Evolve Funds have launched the Horizons Global Metaverse Index ETF (“MTAV”) and the Evolve Metaverse ETF (“MESH”) respectively, on the Toronto Stock Exchange.
Digital Assets: Grayscale Launches Solana Trust, Protests SEC Rejection Of VanEck Spot Bitcoin ETF
December 1, 2021     Digital Assets, News

Grayscale Investments announced Tuesday the launch of the Grayscale Solana Trust to provide investors with exposure to Solana (SOL), the native token of the Solana network, a smart contract platform…
Venture Capital: Digital Temp Staffing Startup Jobandtalent Snags $500M Series E
December 1, 2021     News, Venture Capital

Madrid-based temp staffing marketplace Jobandtalent announced the closure of its Series E raise of $500 million at a valuation of $2.35 billion from Kinnevik and SoftBank Vision Fund 2. Existing…
FinTech: BNPL Was “One Of The Stars” Of The Holiday Season For PayPal
December 1, 2021     FinTech, News

PayPal (NASDAQ: PYPL) enjoyed solid volumes for its buy-now-pay-later (BNPL) offering on Black Friday, continuing a trend the giant payments fintech observed all through November. In that month, for the…