RICHMOND, Va., June 18, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- AssetMark Investment
Services, Inc., a subsidiary of Genworth Financial, Inc. (NYSE: GNW) today
announced the introduction of the AssetMark Fundamental Index(TM) Funds, a new
series of no-load mutual funds based on the Fundamental Index(TM) concept.
AssetMark has partnered with Research Affiliates, which has a pending patent
on the Fundamental Index(TM) concept, to sub-advise the funds. In
constructing the AssetMark Fundamental Index(TM) Funds, Research Affiliates
will be using a specialized process to create value- and growth-focused
mandates that are designed for specific use in asset allocation portfolios
implemented through AssetMark.
Fundamental Index(TM) is an innovative, alternate approach to cap-
weighting indexing. Unlike traditional market capitalization weighted
indexes, the AssetMark Fundamental Index(TM) Funds select and weight stocks
based on accounting measures of a company's strength, including sales, cash
flow, dividends and book value.
"The traditional cap-weighted approach to investing tends to overweight
overvalued stocks and underweight undervalued stocks. We feel that
Fundamental Index(TM) method does a better job of mirroring the composition of
the broader economy as a whole," stated Robert Arnott, Chairman of Research
Affiliates. "We're pleased that our new partnership with AssetMark makes it
possible for more Advisors and investors to have access to this type of
investment approach."
"We think that the Fundamental Index(TM) concept is incredibly powerful
and will strongly resonate with Advisors and investors," noted Ronald Cordes,
Chairman of AssetMark Investment Services. "By partnering with Research
Affiliates, a leader in this area, we feel that our clients now have access to
a truly revolutionary approach to indexing."
The AssetMark Fundamental Index(TM) Funds are part of the AssetMark Funds,
a family of no-load mutual funds designed as an implementation solution as
part of an investor's overall asset allocation strategy. The Fundamental
Index(TM) Funds will initially be comprised of four equity funds, including a
Large Company Growth, Large Company Value, Small Company Growth and Small
Company Value Fund. The AssetMark Funds were introduced in 2001 and currently
have over $3.7 billion in assets under management.
About AssetMark Investment Services
AssetMark Investment Services Inc. is an investment management and
consulting firm dedicated to helping Investment Advisors take their businesses
to the next level of profitability and growth. AssetMark provides one of the
most comprehensive fee-based investment management platforms in the industry,
in addition to client relationship management tools and business development
programs. Founded in 1996, AssetMark currently administers 80,000 client
accounts, representing more than $18 billion is assets. AssetMark is a
wholly-owned subsidiary of Genworth Financial.
About Genworth Financial
Genworth Financial (NYSE: GNW) is a leading financial security company
meeting the retirement, longevity and lifestyle protection, investment and
mortgage insurance needs of more than 15 million customers. It has a presence
in more than 25 countries. For more information, visit genworth.com.
SOURCE Genworth Financial, Inc.
Investors- Alicia Charity, +1-804-662-2248,
Alicia.charity@genworth.com, or
Media-
Tom Topinka, +1-804-662-2444,
Thomas.topinka@genworth.com,
both of Genworth
Financial, Inc.
http://www.genworth.com
