Envestnet, Inc. (ENV - Free Report) and Invesco (IVZ - Free Report) yesterday launched seven new model portfolios that combine active and passive management.
Known as Invesco PMC ActivePassive Portfolios and available on the Envestnet platform, the suite of products has been created by integrating portfolio construction and asset allocation by Envestnet | PMC with high-performing mutual funds from Invesco.
Each portfolio comprises a combination of Envestnet | PMC’s low cost, tax efficient index funds and Invesco’s actively managed mutual funds. They are aimed at enablinginvestors and advisors improve returns, get better diversification, decrease volatility and manage downside risk.
“The Invesco PMC ActivePassive portfolios also include liquid alternative mutual funds, which we believe provide better protection against potential drawdowns in challenging equity markets," said Ryan Tagal, director of product management, Envestnet | PMC.
Envestnet | PMC has been a creator of models that combine active and passive funds for nearly 12 years. It currently offers ActivePassive Portfolios, accounting for $4 billion in assets under management.
The latest offerings are expected to benefit Envestnet Wealth Solutions segment that includes Envestnet | PMC as one of its products and services suite. The segment reported revenues of $188.2 million in the last reported quarter.
Notably, Envestnet shares have gained 46.4% over the past year, outperforming the 39.4% growth of the industry it belongs to.
Zacks Rank & Other Stocks to Consider
Envestnet currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Zacks Business Services sector are S&P Global (SPGI - Free Report) and Booz Allen Hamilton (BAH - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected EPS (three to five years) growth rate for S&P Global and Booz Allen is 10% and 13%, respectively.
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