Envestnet Asset Management announced Wednesday that it has added alternative investment portfolios to its investment consulting platform.
The platform for Envestnet's alternative investment solutions consists of two primary investment options - Alternative Solutions Portfolios and Premier Advisors Fund LLC.
Through Alternative Solutions Portfolios, advisers can manage a portfolio of diversified mutual funds that are actively managed and designed to track the performance of hedge fund indexes. Premier Advisors Fund, on the other hand, is a portfolio of multistrategy funds of hedge funds.
Both alternative solutions have low investment minimums and are designed to perform in-dependently of stocks and bonds. However, only prequalified investors can leverage the Premier Advisors Fund.
Envestnet says it will incorporate a 20% allocation to alternative investments in its model portfolios in an effort to increase diversification.
