WisdomTree ETFs, Nuveen SMA and other industry news
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In April, the public finance space saw the launch of new separately-managed accounts and exchange-traded funds from Nuveen and WisdomTree, respectively, senior talent appointments at First Eagle Investments and Financial Finesse, SOLVE’s introduction of a new municipal finance-focused tool and more.
Full recap below.
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SOLVE debuts new muni feature for data platform
SOLVE, a Stamford, Connecticut-based data provider, is adding municipal market insights to its artificial intelligence-powered predictive price product known as SOLVE Px.
The Relative Value Analysis tool allows brokers and other fixed income experts to review and chart the changes in a bond’s value over a given period of time. This tool, combined with other offerings from SOLVE, allows buy-side and sell-side traders to better understand data when making buy, sell or hold decisions.
“Relative Value Analysis brings a new level of transparency and intelligence to a market that’s often been difficult to navigate,” Eugene Grinberg, CEO of SOLVE, said in a press release. “It empowers traders to build conviction in pricing with precision and speed by using AI-predicted pricing rather than relying on fragmented historical data or evaluated prices that may not keep up with volatility in the markets.”
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TIAA investment manager adds high income SMA option
Nuveen, TIAA’s investment manager, launched its branded High Income Municipal Separately-Managed Account last month.The Nuveen High Income Municipal SMA focuses on non-investment grade and investment grade tax-exempt bonds, while allocating funding at a minimum of 40% to investment grade bonds and up to 60% in high income bonds. The new SMA is the latest product launch from the firm, which announced at the start of this year it would start offering two actively-managed municipal exchange-traded funds.
Nuveen boasts $1.3 trillion in assets under management as of the end of 2024, according to a
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First Eagle Investments adds credit analyst
Ming Zhang has joined the New York-based independent investment management firm First Eagle Investments as a senior credit analyst.
Zhang’s responsibilities on its municipal credit team — reporting to Chief Investment Officer John Miller — include multi-sector underwriting, credit monitoring and portfolio analysis. He joined First Eagle after a 16-year stint with Barclays, where he started out as a corporate credit analyst in 2008 and ended as a desk-based credit analyst last month, according to his
As a chartered financial analyst, Zhang is also a member of the CFA institute. He earned a BA in economics from Cornell University and an MBA from Columbia Business School.
WisdomTree launches muni ETFs
The New York-based financial services firm WisdomTree debuted two municipal ETFs last month, seeking to provide investors at different income levels with a broader range of options.
The WisdomTree Core Laddered Municipal Fund (WTMU) and WisdomTree High Income Laddered Municipal Fund (WTMY) both debuted April 3 on the Nasdaq with respective expense ratios of 0.25% and 0.35%. Insight North America LLC will actively manage and subadvise the funds.
WTMU employs a laddered maturity strategy to invest in a portfolio of securities with an average duration between four and eight years and expectations of maturity or call options in 15 years.
“In today’s changing fixed income landscape, investors seek stability and income,” Kevin Flanagan, head of fixed income strategy at WisdomTree, said in a press release. “Municipal bonds can potentially offer strong credit quality, lower default rates than corporate bonds, and resilience in rising rate environments—making them a compelling choice.”
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Todd Lacey joins Financial Finesse as president
Financial Finesse, the El Segundo, California-based human and AI-powered financial advisory firm, has hired Todd Lacey as president as of April 14.
Lacey joined the firm after spending eight years with Stadion Money Management first as chief business development officer and more recently as chief revenue officer. Prior to Stadion, Lacey worked at Transamerica for six years, starting as vice president and director for the firm’s national distribution and business development group and departing as executive vice president of investments, retirement strategy and corporate development.
“Joining Financial Finesse is an exciting opportunity to help accelerate growth and expand the company’s positive impact,” Lacey said in a
Tony Ursano joins Assured Guaranty’s board of directors
The board of directors for the Bermuda-based holding company Assured Guaranty’s has elected Tony Ursano to join its ranks effective May 2.
Since 2021, Ursano has been a managing partner and cofounder of Insurance Advisory Partners, which provides firms with merger, acquisition, capital raising and other advisory guidance.
“Assured Guaranty has benefited from Tony Ursano’s advice since we went public in 2004, including most recently through the insurance advisory firm that he founded and where he is the managing partner,” Dominic Frederico, president and chief executive of Assured, said in a press release. “Because he knows our company, our business and our markets so well, he will start making impactful contributions on day one.”
