Turnkey provider's AM offers "institutional" products with $50,000 minimums. Third-party investment platform provider Envestnet Asset Management is ready to distribute six new portfolios, devised by its investment arm Portfolio Management Consultants (PMC). The PMC Select Portfolios are supposed to give Envestnet's enterprise clients ways to construct and manage portfolios for end-clients that would otherwise be open only to institutional clients.

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"With the minimum investment of just $50,000 for the Select Portfolios, individuals can invest with global money managers who would typically require investable assets in the tens of millions of dollars," says PMC's CIO Brandon Thomas.

The six new portfolios are managed by institutional asset managers selected on the basis of their style parameters and track records and represent "a full range of asset-allocation strategies that advisors can utilize to address the individual time horizons and risk/return expectations of their clients, either as a complete portfolio solution or as a core holding to complement other investments," PMC says in a press release.

The managers underlying PMC Select are Deutsche Asset Management, State Street Global Advisors, Pictet, Schroders, Delaware Investments and the Boston Company.

PMC Select lets investors add diversification on the basis of geographic location, investment style, and asset class, with portfolio choices including large-cap growth, large-cap value, small-cap core, international equity, core fixed income and tax-free fixed income. PMC provides active rebalancing to avoid style drift.

Envestnet's PMC manages around $11.5 billion in assets. Envestnet administers another $35.5 billion across more than 400,000 accounts. -FWR

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