May 16, 2017


First Passive Indexes Available to Advisors Using the UMA/SMA Platform

DALLAS, TX – Nine of the BRI index strategies, including BRI’s Long/Short Equity (“BRILSE”) Index, which is Powered by Wilshire℠, are now available on the HedgeCoVest UMA/SMA platform, it was announced today by BRI Partners LLC. HedgeCoVest also provides the SMArt Xchange, a UMA/SMA solution exclusively for SS&C’s client base of advisors using Axys®, APX, or Black Diamond®, where the BRI Indexes will also feature.

BRI Partners has entered into a licensing agreement with HedgeCoVest to make the index strategies accessible on its investment platform. BRI will provide nine passive indexes for long-only and absolute return hedge fund strategies: Long/Short Equity, Dynamic Growth and Value, Hedged Small Cap, Quality Small Cap, Large Cap Growth, Large Cap Value, Mid Cap Growth, Mid Cap Value and Equity Market Neutral.

The BRI Index strategies will complement the existing stable of over 150 active investment strategies, including long only, long/short, short only, market neutral, and options strategies, which are currently available to advisors and all of their clients, regardless of investor type. HedgeCoVest combines intra-day liquidity and low fees with proprietary research and technology to provide a complete end-to-end wealth management solution, all through a single unified managed account.

“We are excited to have our family of index strategies added to the impressive line-up of active managers and strategies on HedgeCoVest,” said Stephen Scott, Partner at BRI Partners LLC. “HedgeCoVest gives clients access to the next evolution of managed accounts, real-time performance reporting, and allocation management. The BRI family of index strategies will complement the platform by providing investors a valuable diversification for their portfolios into passive strategies.”


Over time, BRI will add additional index strategies to the platform to offer more options for advisors seeking passive exposure.


“With the addition of the BRI index strategies, HedgeCoVest now provides advisors with next generation access to both active and passive strategies,” said Evan Rappaport, CEO of HedgeCoVest LLC. “We are now better positioned to provide a complete portfolio solution for wealth advisors and their clients.”


About BRI Partners LLC

BRI Partners, LLC, is a creator and licensor of investible traditional long-only and absolute return hedge fund indexes. BRI also specializes in research focused on quantifying, analyzing and demystifying the risk and alpha in alternative strategies.  BRI strives to be intellectually honest, transparent and focused on quality. Being committed to acting with equanimity and engaging in collaborative, open-minded relationships with our clients and our partners BRI’s overriding objective is to create true value for all.


About HedgeCoVest LLC

HedgeCoVest is the creator of an award-winning, real-time investment platform that revolutionizes the managed-accounts industry. HedgeCoVest’s proprietary trading technology empowers wealth advisors with traditional and alternative institutional investment management, utilizing a unified managed account structure. For more information, visit


About the SMArt Xchange

TheSMArt Xchange (“SMArtX”) is a next generation unified managed accounts platform open exclusively to clients of SS&C Advent. SMArtX combines HedgeCoVest’s proprietary trading and managed accounts technology with SS&C Advent’s powerful suite of tools for wealth advisors. For more information, visit


About Wilshire Associates

Wilshire Associates, a leading global financial services firm, provides consulting services, analytics solutions and customized investment solutions to plan sponsors, investment managers and financial intermediaries. Its business units include, Wilshire Analytics, Wilshire Consulting, Wilshire Funds Management and Wilshire Private Markets. Based in Santa Monica, California, Wilshire provides services to clients in more than 20 countries representing more than 500 organizations with assets totaling approximately US $7 trillion.* With ten offices worldwide, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services.

Wilshire® and Powered by Wilshire are service marks of Wilshire Associates Incorporated.

* Client assets are as represented by Pensions and Investments (P&I), detailed in P&I’s “Largest Retirement Funds” and P&I’s “Largest Money Managers (U.S. institutional tax-exempt assets)” as of 9/30/15 and 12/31/15, and published 2/8/16 and 5/30/16, respectively).

Visit www.wilshire.comfor more information.


For more information contact:

Meg Bode

Bode & Associates, Inc