Top Portfolio Products: New Share Classes for Advantage Funds

New products and changes introduced over the last week include the partnership announced between Abacus Group and Imagineer Technology Group that will host the latter’s software platform in the former’s private cloud and Paulson & Co. opened two new share classes for its Advantage funds.

In addition, Invesco PowerShares announced a special dividend for PowerShares QQQ (QQQ).

Here are the latest developments of interest to advisors:

1) Paulson & Co. Announces Two Additional Share Classes for Advantage Funds

Paulson & Co. has announced that it is now offering two additional share classes for its Advantage funds that offer different liquidity terms for different fees.

Paulson Advantage, L.P. and Paulson Advantage, Ltd. are now available in B shares that permit monthly withdrawals on 60 days’ notice instead of the once-a-quarter withdrawals permitted in existing shares; the B shares, however, carry a 2% management fee instead of the existing shares’ 1.5%. C shares permit only once-a-year withdrawals but the management fee is only 1%.

Advantage Plus C shares offer quarterly liquidity in exchange for a 2% management fee, while D shares only carry a 1.25% management fee and allow only once-a-year withdrawals.

All investors pay a 20% performance fee.

2) Abacus, Imagineer Partner to Host Software Platform in Cloud

Abacus Group LLC and Imagineer Technology Group have announced a partnership that hosts Imagineer’s Clienteer software platform in the AbacusFLEX private cloud environment.

This will allow AbacusFLEX clients to access the Clienteer CRM platform, which was developed specifically for hedge funds, private equity firms and other asset managers with functionality focused on the areas of investor relations, sales and marketing, operations, compliance, and the workflows related to these activities.

3) Invesco PowerShares Announces Special Dividend for PowerShares QQQ

Invesco PowerShares Capital Management LLC has announced that on March 7 PowerShares QQQ expects to issue a special dividend payment.

The special dividend is due to a corporate action event by Vodafone Group PLC ADR, which is held by PowerShares QQQ. As of February 20, Vodafone represented 0.93% of total holdings in PowerShares QQQ. The ex-date for special distribution was Thursday, February 27. The record date is anticipated to be Monday, March 3, and the payable date is anticipated to be Friday, March 7.

Read the Feb. 21 Portfolio Products Roundup at ThinkAdvisor.