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Updated Alternative Mutual Fund List!

By July 20, 2021July 22nd, 2021No Comments

The approved and restricted alternative mutual funds, as well as the watch lists have been updated.  Below is a summary of the requirements for the alternative mutual funds.

APPROVED AND RESTRICTED 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 via Training/Product selecting ESI and then Mutual Fund Agreements. 

  • The Alternative Approved List is a list of approved alternative mutual funds that may be purchased (once training has been completed).
  • The Watch List is 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 in FIRE Solutions. The training may be accessed through FIRE Solutions: https://blaze.firesolutions.com/portal/login. The cost is $12.50.  Once you have completed the course, please email your completion certificate to ESITrading@NationalLife.com and this training will be added to your profile.

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