Manager changes, November 2012

Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.

Ticker Fund Out with the old In with the new Dt
PCDFX Aberdeen Core Fixed Income J. Christopher Gagnier, Oliver Boulind and Timothy Vile have stepped down Existing comanagers, Stephen Cianci and Neil Moriarty will be joined by Michael Degernes, Edward Grant, and Charles Tan. 11/12
AUDIX Aberdeen Ultra-Short Duration Bond Oliver Boulind and Neil Moriarty have stepped down The rest of the team remains. 11/12
AIFLX American Independence Large Cap Growth Robert S. Natale John Christopher Jacobs 11/12
AIFSX American Independence Small Cap Growth Robert S. Natale John Christopher Jacobs 11/12
MDFGX BlackRock Capital Appreciation Jeff Lindsey Lawrence Kemp 11/12
MAFOX BlackRock Focus Growth Jeff Lindsey Lawrence Kemp 11/12
BLDAX BlackRock Low Duration Bond Comanager Stuart Spodek Scott MacLellan joins as a new comanager with Tom Musmanno, who remains. 11/12
DEQAX Dreyfus Global Equity Income No one, but . . . Nick Clay joined James Harries as a comanager 11/12
SNIEX Dreyfus/Newton International Equity No one, but . . . Jeff Munroe joined Paul Markham as a comanager 11/12
EAGMX Eaton Vance Global Macro Absolute Return Mark Venezia will retire The other managers remain. 11/12
FTEAX Forward Tactical Enhanced Christopher J. Guptill, an outsider who was doing a singularly fine job. Jim O’Donnell and Jim Welsh take over as part of an “in-housing” trend at Forward 11/12
GALLX Goldman Sachs Flexible Cap Growth No one, but . . . Warren Fisher was added as a comanager 11/12
IMOIX ING Growth and Income Core Portfolio (formerly, ING Thornburg Value Portfolio) Connor Browne and Edward Maran, as subadvisor Thornburg Investment Management was terminated. Christopher F. Corapi and Michael Pytosh of subadvisor, ING Investment Management 11/12
JMIGX Jacob Micro Cap Growth Jamie Cuellar Ryan Jacob, who bought the former Pinebridge Micro Cap fund in July and has installed himself as manager 11/12
PBSBX Jacob Small Cap Growth Jamie Cuellar Ryan Jacob, same story as with Micro Cap: bought the fund, hired himself, didn’t lower the 3.4% expense ratio. 11/12
PZFVX John Hancock Classic Value No one, but . . . Ben Silver has joined as the fourth comanager. 11/12
LGILX Laudus Growth Investor US Large Cap Growth Lawrence Kemp has retired from UBS, the subadvisor. He’s being replaced by a team of three, Paul Graham, Sam Console, and Peter Bye. 11/12
MFDAX Managers Fixed Income Subadvisor Loomis Sayles is out, along with Dan Fuss.  Fuss is splendid and quite elderly and his heir apparent jumped ship so … Gannett Welsh & Kotler, LLC, is in, with Mary Kane as portfolio manager. 11/12
NCBIX New Covenant Balanced Income John J. McCue Derek Papastrat 11/12
NSAGX Nuveen Santa Barbara Growth James Boothe Robert C. Doll Jr. 11/12
OPMSX Oppenheimer Main Street Small- & Mid-Cap No one, but . . . Raymond Anello is now lead manager, and Joy Budzinski, Kristin Ketner Pak, Magnus Krantz, and Adam Weine were added as comanagers. 11/12
PIGFX Pioneer Fundamental Growth Timothy Mulrenan Paul Cloonan 11/12
PINDX Pioneer Independence Timothy Mulrenan Andrew Acheson continues alone. 11/12
PRIAX Principal International Emerging Markets Michael Ade and Michael Reynal Mohammed Zaidi will join Mihail Dobrinov as a manager 11/12
PPGAX Putnam Global Sector No one, but . . . Isabel Buccellati joins the team, now numbering 14 11/12
PRFRX T. Rowe Price Floating Rate Justin Gerbereux has stepped down Comanager Paul Massaro remains as the sole manager. 11/12
RPIFX T. Rowe Price Institutional Floating Rate Justin Gerbereux has stepped down Comanager Paul Massaro remains as the sole manager. 11/12
TGGEX TCW Growth Equities Husam Nazer and Brendt Stallings will be out by the end of the year Mike Olson and Chang Lee will assume the duties 11/12
TGSCX TCW Small Cap Growth Husam Nazer and Brendt Stallings, who managed a high volatility/low returns style, will be out by the end of the year Mike Olson and Chang Lee will assume the duties 11/12
TGSDX TCW SMID Cap Growth Husam Nazer and Brendt Stallings will be out by the end of the year Mike Olson and Chang Lee will assume the duties 11/12
USGRX USAA Growth & Income Subadvisors Loomis Sayles and UBS Global Asset Management. An in-house team, John Toohey and Wasif Latif, join the other subadvisors. 11/12
USISX USAA Income Stock No one, but . . . They’re adding an internal team to comanage a portion of the fund. The internal team consists of Wasif Latif, John Toohey, Julianne Bass, and Steve Klaffke. The existing subadvisors will remain. 11/12

 

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