Manager changes, June 2014

By Chip

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

ABYSX

AllianceBernstein Discovery Value Fund

Andrew Weiner, by all accounts a good and well-liked person, who passed away at 45

Joseph Paul and James MacGregor remain on the fund

6/14

ABAGX

AllianceBernstein Global Value

Sharon Fay leaves the fund and her CIO of global value role, but remains with the firm

Kevin Simms remains on the fund and assumes the CIO of global value role. Comanagers Avi Lavi and Takeo Aso also remain.

6/14

ABIAX

AllianceBernstein International Value

Sharon Fay leaves the fund and her CIO of global value role, but remains with the firm

Kevin Simms remains on the fund and assumes the CIO of global value role. Comanagers Avi Lavi and Takeo Aso also remain.

6/14

AEPGX

American Funds EuroPacific Growth Fund

Rob Lovelace is no longer a comanager

Lawrence Kymisis joins the rest of the long-tenured team.

6/14

APPLX

Appleseed Fund

Ronald Strauss and Rick Singer have retired

Adam Strauss, Joshua Strauss, and Bill Pekin will carry on.

6/14

BVEFX

Becker Value Equity Fund

Robert Schaeffer has retired

Patrick Becker, Stephen Laveson, Michael McGarr, Marian Kessler, and Andy Murray remain

6/14

BCSAX

BlackRock Commodity Strategy Fund

No one, but . . .

Ricardo Fernandez joins the team of Robin Batchelor, Evy Hambro, Poppy Allonby, Catherine Raw, and Rob Shimell

6/14

CVSIX

Calamos Market Neutral Income Fund

Christopher Hartman is out

Eli Pars joins the team of John Calamos, Sr., Gary Black, Jason Hill, and Brendan Maher.

6/14

DVFAX

Cohen and Steers Dividend Value Fund

No one, but . . .

Christopher Rhine, Anatoliy Cherevach, and Jamelah Leddy join Richard Helm

6/14

NMIAX

Columbia Large Cap Enhanced Core Fund

Oliver Buckley will be retiring as of July 18th

Brian Condon will carry on

6/14

AQEAX

Columbia Large Core Quantitative Fund

Oliver Buckley will be retiring as of July 18th

Brian Condon will carry on

6/14

RDLAX

Columbia Large Growth Quantitative Fund

Oliver Buckley will be retiring as of July 18th

Brian Condon will carry on

6/14

RLCAX

Columbia Large Value Quantitative Fund

Oliver Buckley will be retiring as of July 18th

Brian Condon will carry on

6/14

FUTEX

Discretionary Managed Futures Strategy Fund

No one, but . . .

Stephen Luongo joined the team of Brian Borneman, Robert Johnson, John Milne, Robert Vear, and Deborah Wingerson

6/14

VSFAX

Federated Clover Small Value Fund

No one, but . . .

Martin Jarzebowski joins Lawrence Creatura and Stephen Gutch

6/14

FINWX

Fidelity Advisor International Bond Fund

Matthew Conti

Michael Foggin and Constantin Petrov join Curt Hollingsworth in running the fund

6/14

FPPFX

FPA Perennial Fund

Steven Geist has retired after 15 years

Eric Ende, Geist’s partner since the fund’s inception, and Gregory Herr

6/14

FEMDX

Franklin Templeton Emerging Market Debt Opportunities Fund

Claire Husson-Citanna is out

Nicholas Hardingham joins William Ledward in running the fund

6/14

PGEOX

George Putnam Balanced Fund

David Calabro is off the fund

Aaron Cooper and Kevin Murphy are now the portfolio managers

6/14

GTEAX

Gottex Endowment Strategy Fund

William Landes is out

Michael Azlen and Kevin Maloney

6/14

HLEAX

Hartford Global Equity Income Fund

Mark Mandel and Cheryl Duckworth

Ian Link, W. Michael Reckmeyer, and John Ryan are in.

6/14

HRAAX

Hartford Growth Allocation Fund

Wendy Crowell and Richard Meagher

Vernon Meyer

6/14

LCEAX

Invesco Diversified Dividend Fund

Jonathan Harrington is out

Meggan Walsh, Robert Botard, and Kristina Bradshaw remail

6/14

PZFVX

John Hancock Classic Value Fund

Antonio DeSpirito III resigned as a vice president at Pzena and, in consequence, is off the fund.  Perhaps he was DeSpirited away?

Richard Pzena, John Goetz, and Benjamin Silver

6/14

JCOAX

John Hancock Greater China Opportunities Fund

Oscar Kin Fai Leung is no longer a portfolio manager

Ronald Chan and Kai Kong Chay will remain on the fund.

6/14

LMEMX

Legg Mason Batterymarch Emerging Markets Fund

David Lazenby

Russell Shtern

6/14

SBSPX

Legg Mason Batterymarch S&P 500 Index

Austin Kairnes and Stephen Lanzendorf

Russell Shtern and Robert Wang

6/14

SBFAX

Legg Mason Investment Counsel Financial Services Fund

Amy LaGuardia is out

Christopher Perry and Lee Robertson will take over the fund

6/14

MNILX

Litman Gregory Masters International Fund

Edward Wendell and Amit Wadhwaney are out; nominally Mr. Wadhwaney of Third Avenue is retired but folks who know him are skeptical of how long that will last.

The rest of the team remains on the fund.

6/14

MHCAX

MainStay High Yield Corporate Bond Fund

J. Matthew Philo is no longer on the fund

Andrew Susser continues on

6/14

MDHAX

MainStay Short Duration High Yield Fund

J. Matthew Philo is no longer on the fund

Andrew Susser continues on

6/14

OWSOX

Old Westbury Strategic Opportunities Fund

There’s been a change in the management of the portion of the fund overseen by BlackRock Financial Management. John Vibert and Akiva Dickstein are out.

Ibrahim Incoglu and Randy Robertson are in. The rest of the team remains.

6/14

OMOAX

Orinda SkyView Macro Opportunities Fund

Orinda is resigning as investment advisor to the fund, but intends to stay deeply involved in running the fund.

Upon shareholder approval, Vivaldi Asset Management will take over as investment advisor to the fund.

6/14

OHEAX

Orinda SkyView Mulit-Manager Hedged Equity Fund

Orinda is resigning as investment advisor to the fund, but intends to stay deeply involved in running the fund.

Upon shareholder approval, Vivaldi Asset Management will take over as investment advisor to the fund.

6/14

EITEX

Parametric Tax-Managed Emerging Markets Fund

No one, but . . .

Timothy Atwell joins Thomas Seto and David Stein as a comanger on the fund.

6/14

ETIGX

Parametric Tax-Managed International Equity Fund

No one, but . . .

Paul Bouchey joins Thomas Seto and David Stein as a comanger on the fund.

6/14

PARSX

Parnassus Small-Cap

Jerome Dodson, Parnassus’ founder and father of Bretton Fund’s  Stephen Dodson

Ryan Wilsey will continue as the sole manager

6/14

PCGRX

Pioneer Mid-Cap Value Fund

Timothy Horan

Edward Shadek, Jr. remains as the sole portfolio manager

6/14

CMNWX

Principal Capital Appreciation Fund

Sarah Radecki is out.

Philip Foreman and Daniel Coleman remain on the fund.

6/14

PFAFX

Principal International I

James Fennessey and Randy Welch are out

John Birkhold, Chris Carter, Nigel Dutson, Tarlock Randhawa and Nerys Weir are in

6/14

PGJAX

Prudential Jennison Global Infrastructure Fund

No one, but . . .

Brannon Cook will join Shaun Hong and Ubong Edemeka as a portfolio manager for the fund.

6/14

PZVLX

Pzena Long/Short Value Fund

Antonio DeSpirito III is off the fund

Manoj Tandon joins TVR Murti and Eli Rabinowich as a portfolio manager

6/14

FUSOX

Strategic Advisers U.S. Opportunity Fund

Robert Vick is retiring and the four star, five billion dollar fund is being liquidated

Brian Enyeart and John Stone will serve as co-portfolio managers and oversee the liquidation of the fund.

6/14

PRFDX

T. Rowe Price Equity Income Fund

CIO and wise man Brian Rogers will step down at the end of October 2015

In a long transition plan, John Linehan will take over the fund upon Mr. Rogers retirement.

6/14

TRGRX

T. Rowe Price Global Real Estate Fund

David Lee will be leaving April 1, 2015

Nina Jones will be taking over as portfolio manager

6/14

PAGEX

T. Rowe Price Global Real Estate Fund – Advisor Class

David Lee will be leaving April 1, 2015

Nina Jones will be taking over as portfolio manager

6/14

TVSVX

Third Avenue Small-Cap Fund

No one, but . . .

Robert Rewey, III, joins Charles Page, Tim Bui, and Curtis Jensen as a portfolio manager

6/14

TVFVX

Third Avenue Value Fund

Ian Lapey is no longer listed as a portfolio manager

Robert Rewey, III, joins Yang Lie, Michael Lehmann and Victor Cunningham as a portfolio manager

6/14

TPSAX

Thrivent Partner Small Cap Growth

Peter Niedland and Jason Schrotberger

Matthew Finn and David Lettenberger

6/14

TSPCX

Turner Spectrum Fund

Joshua Kohn is gone

The rest of the team remains on the fund.

6/14

USGRX

USAA Growth and Income Fund

Wellington Management is out as a subadvisor, along with Francis Boggan and Mathew Megargel, who is retiring.

The rest of the team remains on the fund.

6/14

VALLX

Value Line Larger Companies

Stephen Grant is off the fund

Cindy Starke becomes the new portfolio manager

6/14

VEXPX

Vanguard Explorer

No one, but . . .

Arrowpoint has been added as the eighth subadvisor, with Chad Mead and Brian Schaub handling that portion of the portfolio

6/14

VPGDX

Vanguard Managed Payout Fund

No one, but …

John Ameriks has joined Michael Buek as a comanager for the fund

6/14

VWNDX

Vanguard Windsor Fund

Antonio DeSpirito III is off the fund

James Nordy, John Goetz, and Richard Pzena remain.

6/14

NTKLX

Voya Multi-Manager International Small Cap Fund

Patrick McCafferty is no longer a portfolio manager for the fund.

Simon Thomas, Daniel Maguire, Brian Wolahan, Constantine Papageorgiou, and John Chisholm remain

6/14

LWEAX

Western Asset Emerging Markets Debt Fund

Keith Gardner will be stepping down April 30, 2015

Chia-Liang Lian will join the team now, and take charge of emerging markets debt upon Mr. Gardner’s departure. The rest of the team of S. Kenneth Leech, Gordon Brown, and Robert Abad will remain.

6/14

WRAAX

Wilmington Multi-Manager Alternatives Fund

Coleman Kennedy is out.

The rest of the team remains, for now.

6/14

 

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About Chip

Cheryl Welsch, MBA (Western Governors). Cofounder, technical director. Chip is the lead developer for information technology, virtual reality, and business programs at Eastern Iowa Community Colleges. Chip is responsible for making the Observer actually happen; in cooperation with our graphic designer, she also controls how the Observer looks and acts. She also writes our monthly Manager Changes feature and whittles away at the typofest in our drafts.