Products April 7, 2022

AIG Debuts Interactive Wellness Check Tool

The tool can help retirement plan participants act to bolster their retirement readiness and financial goals.

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AIG Retirement Services has launched an interactive assessment tool, FutureFIT Wellness Check, to help retirement plan participants.

The addition to AIG’s FutureFIT participant digital platform aims to guide and support individuals to develop personalized plans that will allow them to achieve their financial goals. The online checkup—available to all eligible employees, not only active retirement plan participants—offers direct access to financial wellness tools for budgets, emergency savings, debt management, student loans, and retirement planning.   

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Gilliane Isabelle, chief distribution officer, AIG Retirement Services, states that plan sponsors can include the wellness check to help motivate and educate plan participants.

“AIG Retirement Services is committed to making retirement planning easier and accessible for all, and FutureFIT Wellness Check is the latest example of our work to leverage user experience best practices to educate and motivate,” she says.

At the start of the assessment, users answer a few questions about their spending, debt, retirement plan contributions and savings goals. The wellness check will use the responses to create a personalized education program and a plan to act, with resources to help participants reach their goals.

The customized action plans include brief education sessions intended to prompt workers to act and help motivate employees to get more involved with their financial planning. Users can also connect to AIG Retirement Services offerings when using the tool.

“We are always looking for ways to help people feel more confident about their future,” says Isabelle. “It’s Financial Literacy Month, and we are taking advantage of the moment to work with public sector and nonprofit employers across the country to help their employees, no matter where they are in their career or their financial journey.”

Products April 7, 2022

Investment Product and Service Launches

New York Life Investments announces new brand for its private markets alternatives boutique; State Street Global Advisors launches ESG-focused ETF.

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Art by Jackson Epstein

New York Life Investments Reveals New Private Markets Alts Brand

New York Life Investments has announced Apogem Capital as the new brand for its dedicated private markets alternatives boutique, bringing together the capabilities and investment teams of GoldPoint Partners, Madison Capital Funding and PA Capital. Apogem Capital has approximately $37 billion in assets under management and provides a broad range of private capital solutions tailored to middle market companies.

Apogem Capital offers sponsors and their portfolio companies access to a streamlined suite of capital solutions. These include direct lending, junior debt, primary and secondary private equity fund investments as well as equity-co-investments, GP stakes, real assets and long/short equity.

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With the brand launch, Apogem Capital will seek to spark ideas, new strategies and new possibilities across the alternatives landscape. As a result of the combination, the New York Life Investments Alternatives brand will be retired in favor of Apogem Capital, which launches with a new brand identity, logo and website to reflect the unified brand of the boutique.

 

State Street Global Advisors Launches ESG-Focused ETF

State Street Global Advisors, the asset management business of State Street Corporation, has announced the launch of the SPDR Nuveen Municipal Bond ESG ETF. Sub-advised by Nuveen, the new, actively managed fund is designed to invest in municipal securities from issuers that are leaders in their sector in delivering environmental, social and governance outcomes or whose proceeds are used toward positive environmental or social projects.

“The prospect of higher taxes coupled with rising uncertainty surrounding future interest rate hikes have increased demand for actively managed municipal bond ETFs,” says Brie Williams, head of practice management at State Street Global Advisors. “At the same time demand for municipal bond exposure is growing, investors are increasingly looking beyond equities for ESG exposure.”

With over seven decades of collective experience investing in municipal bonds, Tim Ryan, Shawn O’Leary and David Blair will leverage Nuveen’s proprietary ESG Municipal Bond Scoring Tool to select bonds from issuers that are leaders in environmental stewardship, strong governance and positive social outcomes. The strategy will primarily consist of investment-grade, tax-exempt municipal securities ranging from two to 17 years in maturity issued by U.S. municipalities. To identify potential municipal bonds for investment, Nuveen utilizes a value-oriented strategy which is designed to identify higher-yielding and undervalued municipal bonds that offer above-average total return potential.

“As investors become more familiar with ESG-integrated strategies, Nuveen has created a proprietary framework that is designed to identify the municipal bond issuers that support income generation for investors and achieve positive ESG outcomes in their communities,” says Tim Ryan, municipal portfolio manager at Nuveen. “The fund is also designed to provide exposure to bonds whose proceeds are used towards positive environmental or social projects addressing critical issues including climate change, environmental degradation, inequality, poverty and justice and are aligned with the UN Sustainable Development Goals.”  

SSGA Funds Management Inc. serves as investment adviser to the new fund, and Nuveen Asset Management LLC serves as investment sub-adviser.

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