RIA Envestnet Debuts First Interval Funds to UMA Platform

Envestnet has unveiled its first interval funds as part of its unified managed accounts, as the firm aims to broaden its private market offering to match the growing demand from financial advisors. 

The RIA giant stated that the funds are available within its unified managed accounts platform, with more managers expected to be added over the course of this year, to help gain exposure to portfolio management. 

Through the offering, Envestnet will be managing interval fund management within the UMA platform, including research, trading, rebalancing, tax-loss harvesting, and model updates. 

Additionally, the UMA platform supports investment vehicles that enable advisors to provide their clients access to semi-liquid private market options, as the demand for the segment continues to increase across the industry. 

“As interest in interval funds increases, Envestnet can help alleviate any advisor reluctance associated with alternatives by supporting compliance considerations, trading, and more within the unified managed accounts we’re already overseeing,” Todd Rais, head of research and CIO support at Envestnet, said. 

To provide additional resources for advisors, Envestnet has launched an Alternatives Research Center that focuses on providing portfolio guidance for interval funds and other investments. 

This comes after Envestnet rolled out its latest proprietary solution, dubbed Dash. Dash, which is available as an embedded experience for advisory firms’ websites, is designed as a light-planning and engagement tool that aims to lower the barrier to entry for households that may not be ready for a full planning process. 

In October, the firm also unveiled a suite of managed model portfolios featuring interval funds, through its Strategist UMA and Fund Strategist programs initially in partnership with Franklin Templeton and BlackRock.  

Fidelity Investments and State Street are expected to join the lineup this year, Envestnet said.