What is the equivalent to new(self) in UDK?

Development Rendering
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1

in UDK, I had this:
MI_Glass = new(self) class’MaterialInstanceConstant’;

What is the equivalent to this in UE4? How do you create things like new materials or components in functions and not the constructor? I found things like SpawnActor(), PlaySoundAttached(), PlayEmitterAttached(), etc., but nothing for everything else.

Thank you,

Corey