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Advisory Solutions

4th Quarter 2023 Alternative Mutual Fund Lists – Update

By January 30, 2024February 2nd, 2024No Comments

The 4th quarter 2023 alternative mutual fund lists, (approved, restricted and watch lists) have been updated.

Approved and Prohibited Alternative Mutual Funds

The purchase of Alternative Mutual Funds that include inverse and leveraged strategies is not permitted. To assist with what funds may be purchased, there is an Alternative Mutual Fund Available List and a Watch List which is updated quarterly and may be found on the Agent Portal à Products à Investments à Mutual Funds. 

  • The Approved List is a list of approved alternative mutual funds that may be purchased (once training has been completed).
  • The Watch List is a the list of alternative mutual funds that the Firm is watching to determine if they may become prohibited in the future due to failing consecutive screens, (two consecutive quarters). If you recommend purchases on the list, please be aware that they may no longer be approved to purchase in the future.
  • The Restricted List is the list of prohibited alternative mutual funds.
    • BROKERAGE: If an attempt to purchase is ma de in a brokerage account, the purchase will be blocked.
    • DIRECT: If purchased in a direct, mutual fund, you will be contacted by Compliance after to work with your client to have any new investments directed to a non-alternative mutual fund or to one of the approved alternative mutual funds. 
    • REMOVED FROM APPROVED LIST: If a fund is removed from the Available list (brokerage or direct), Compliance will contact you to let you know that the fund is no longer available for purchase and to work with your client to have any new investments directed to a non-alternative mutual fund or to one of the approved alternative mutual funds. 

Training

Prior to purchasing approved alternative mutual funds, you must first complete required training. Please email ESICompliance@nationallife.com to inquire about taking the course. Once you have completed the course, please email your completion certificate to ESITrading@NationalLife.com and this training will be added to your profile.

Questions If you have any questions or concerns regarding the alternative mutual fund lists, please contact ESI at 800-344-7437.

TC139320(0124)1