Envestnet has launched a roster of multi-manager liquid endowment portfolios via Envestnet | PMC, its portfolio consulting group.

Envestnet, the New York-listed provider of wealth management technology and services to investment advisors and wealth managers, has launched a roster of multi-manager liquid endowment portfolios via Envestnet | PMC, its portfolio consulting group.

The LEP series is part of PMC's guided portfolios program - a selection of portfolios that combine investment vehicles into one account in a unified managed account format, with “transparency and no hidden fees.”

Envestnet said LEPs combine “strategic asset class allocations, tactical managers and liquid alternative investment strategies in an effort to enhance diversification in portfolios.”

It added: “The liquid alternative allocation is designed to help guard against rising correlations and risk of loss during major market drops.”

Essentially, LEPs use liquid alternatives to add another level of diversification by introducing hedge-like strategies. 

The new LEPs consist of exchange-traded funds, mutual funds, separately-managed accounts and fund strategist portfolios. They are offered at four asset tiers starting at $35,000.