Macquarie Investment Management and Wilshire Associates have created a fund aimed at mass-affluent investors that packages private-market assets.
As outlined in its prospectus, the model portfolio of the Delaware Wilshire Private Markets Fund consists of investments in private equity (50%), private debt (15%), alternative yield (15%) and private real assets (20%).
The fund, which has an initial investment minimum of $25,000 and an additional investment minimum of $5,000, will charge a management fee of $1.2% on top of the fees charged by the private funds in which it invests.
The 25-year industry veteran previously in charge of the Wall Street bank's advisor recruitment efforts is now fulfilling a similar role at a rival firm.
Former Northwestern Mutual advisors join firm for independence.
Executives from LPL Financial, Cresset Partners hired for key roles.
Geopolitical tension has been managed well by the markets.
December cut is still a possiblity.
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