Category Archives: Manager changes

Manager changes, August 2016

By Chip

In memoriam

With great sadness, we note the passing of two members of the investing community.

albert nicholasAlbert “Ab” Nicholas, philanthropist and founder of the Nicholas Funds, died August 4, 2016, full of years and honors, at age 85. He earned his bachelor’s degree, in the early 1950s, from the University of Wisconsin-Madison. He was deeply grateful for the scholarship that made it possible for a poor kid from Rockford, Illinois, to attend college and he repaid that kindness a thousand times over through his gifts to the university. Continue reading →

Manager changes, July 2016

By Chip

Wow. Barely three dozen managers were subjected to the walk of shame (or, perhaps, the happy dance out the door) this month. There were two high profile changes.

Rob Taylor is retiring from management of Oakmark Global and Oakmark International, both of which are reopening to new investors. David Herro is being added as co-manager of the former and becomes sole manager of the latter. Since Mr. Herro is already managing $20 billion, the additional assignments either suggest that Oakmark is running out of talent or that Mr. Herro is feeling a bit megalomaniacal.

At we noted above, for reasons unexplained, Kumar Palghat has left Janus Unconstrained Global Bond (JUCAX) after one year.

In iconic changes, as we note below, West Shore is out at West Shore and Burnham is out at Burnham.  Continue reading →

Manager changes, May 2016

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
ARDWX Aberdeen Multi-Manager Alternative Strategies Fund II Santa Fe Partners LLC no longer serves as a sub-adviser to the fund, and Henry Davis is no longer listed as a portfolio manager for the fund. Ian McDonald, Averell Mortimer, Darren Wolf, Russell Barlow, Vicky Hudson, Peter Wasko and Kevin Lyons remain on the management team 5/16
ASTYX AllianzGI Best Styles International Equity No one, but … Erik Mulder joined Michael Heldmann and Karsten Niemann in managing the fund. 5/16
AZDAX AllianzGI Global Fundamental Strategy Fund Andreas Utermann is no longer listed as a portfolio manager for the fund. Neil Dwane joins the management team of Armin Kayser, Karl Happe, Eric Boess, and Steven Berexa. 5/16
BGEIX American Century Global Gold Fund William Martin and Lynette Pang are no longer listed as portfolio managers for the fund. Yulin Long and Elizabeth Xie are now managing the fund. 5/16
BDMAX BlackRock Global Long/Short Equity Fund Paul Ebner is no longer listed as a portfolio manager for the fund. Richard Mathieson joins Raffaele Savi and Kevin Franklin in managing the fund. 5/16
BMSAX BlackRock Secured Credit Portfolio Carly Wilson and C. Adrian Marshall are gone. Mitchell Garfin remains and is joined by James Keenan, Jeff Cucunato, Jose Aguilar and Artur Piasecki. 5/16
BIALX Brown Advisory Global Leaders Fund No one, but … Bertie Thomson joins Michael Dillon in managing the fund. 5/16
CSIBX Calvert Bond Portfolio Matthew Duch will no longer serve as a portfolio manager for the fund. Vishal Khanduja and Brian  Ellis will remain on the portfolio management team. 5/16
CGAFX Calvert Green Bond Fund Matthew Duch will no longer serve as a portfolio manager for the fund. Vishal Khanduja and Brian  Ellis will remain on the portfolio management team. 5/16
CYBAX Calvert High Yield Bond Fund Matthew Duch will no longer serve as a portfolio manager for the fund. Vishal Khanduja and Brian  Ellis will remain on the portfolio management team and will be joined by Patrick Faul. 5/16
CFICX Calvert Income Fund Matthew Duch will no longer serve as a portfolio manager for the fund. Vishal Khanduja and Brian  Ellis will remain on the portfolio management team. 5/16
CLDAX Calvert Long-Term Income Fund Matthew Duch will no longer serve as a portfolio manager for the fund. Vishal Khanduja and Brian  Ellis will remain on the portfolio management team. 5/16
CSDAX Calvert Short Duration Income Fund Matthew Duch will no longer serve as a portfolio manager for the fund. Vishal Khanduja and Brian  Ellis will remain on the portfolio management team. 5/16
CULAX Calvert Ultra-Short Income Fund Matthew Duch will no longer serve as a portfolio manager for the fund. Vishal Khanduja and Brian  Ellis will remain on the portfolio management team. 5/16
SDUAX Deutsche Ultra Short Duration Bond Fund, soon to be the Deutsche Fixed Income Opportunities Fund As of August 31, Eric Meyer will no longer serve as a portfolio manager for the fund. John Ryan is joined by Roger Douglas and Rahmila Nadi in managing the fund. 5/16
DGANX Dreyfus Global Infrastructure Fund Joshua Kohn is no longer listed as a portfolio manager for the fund. Maneesh Chhabria is joined by Theodore Brooks on the management team. 5/16
ETMGX Eaton Vance Tax-Managed Small-Cap Fund Nancy Took, lead portfolio manager, announced her intention to retire at the end of October, 2016. Michael McLean and J. Griffith Noble will continue with the fund. 5/16
GSBFX Goldman Sachs Income Builder Fund Effective immediately, Lale Topcuoglu no longer serves as a portfolio manager for the fund. Daniel Lochner, Charles Dane, Colin Bell, Ronald Arons, Andrew Braun and David Beers will continue to manage the fund. 5/16
HBIAX HSBC Global High Income Bond Fund Lisa Chua is no longer listed as a portfolio manager for the fund. Nishant Upadhyay joins Rick Liu and Jerry Samet in managing the fund. 5/16
HBYAX HSBC Global High Yield Bond Fund Lisa Chua is no longer listed as a portfolio manager for the fund. Nishant Upadhyay joins Rick Liu and Mary Gottshall Bowers in managing the fund. 5/16
WASAX Ivy Asset Strategy Fund Mike Avery will no longer manage the fund, effective June 30, 2016. F. Chace Brundige and Cynthia Prince-Fox will continue to co-manager the fund. 5/16
IVTAX Ivy Managed International Opportunities Fund Mike Avery will no longer manage the fund, effective June 30, 2016. At that time, F. Chace Brundige and Cynthia Prince-Fox will become co-managers of the fund. 5/16
JMMAX JPMorgan Multi-Manager Alternatives Fund No one, but … P/E Global LLC has been added as an eleventh subadvisor to the fund. 5/16
SCGLX Scout Global Equity Fund James Moffett and founding manager James Reed are no longer listed as portfolio managers for the fund. Charles John is joined by John Indellicate and Derek Smashey. Somehow the combination of “indelicate” and “smashy” seems like fodder for a bunch of in-jokes. 5/16
UMBWX Scout International Fund Michael P. Fogarty no longer serves as a portfolio manager of the fund. Michael Stack and Angel Luperico will continue to manage the fund. 5/16
SEQUX Sequoia Fund No one, but … John Harris, Arman Gokgol-Kline, Trevor Magyar, and David Sheridan join David Poppe as co-managers. 5/16
TVOAX Touchstone Small Cap Value Fund DePrince Race & Zollo, Inc. will no longer subadvise the fund. Gregory Ramsby and Randy Renfrow will no longer serve as portfolio managers for the fund. Russell Implementation Services will subadvise the fund, with Wayne Holister as portfolio manager, until June 30, 2016. After June 30, LMCG Investments will become the subadvisor to the fund. 5/16
USIFX USAA International Fund No one, but … Filipe Benzinho is joining Susanne Willumsen, James Shakin, Craig Scholl, Paul Moghtader, Ciprian Marin, Taras Ivanenko, Andrew Corry, Daniel Ling and Marcus Smith to manage the fund. 5/16
HEMZX Virtus Emerging Markets Opportunities Fund No one, but … Brian Bandsma and Jin Zhang join Matthew Benkendorf in managing the fund 5/16
JVIAX Virtus Foreign Opportunities Fund No one, but … Daniel Kranson and David Souccar will join Matthew Benkendorf in managing the fund 5/16
NWWOX Virtus Global Opportunities Fund No one, but … Ramiz Chelat will join Matthew Benkendorf in managing the fund 5/16
UNASX Waddell & Reed Advisors Asset Strategy Fund Mike Avery will no longer manage the fund, effective June 30, 2016. F. Chace Brundige and Cynthia Prince-Fox will continue to co-manager the fund. 5/16

Manager changes, April 2016

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
ARDWX Aberdeen Multi-Manager Alternative Strategies Fund II Henry Davis no longer serves as a portfolio manager of the fund Kevin Lyons joins the team of Averell H. Mortimer, Ian McDonald, Darren Wolf, Russell Barlow, Vicky Hudson, and Peter Wasko 4/16
FXDAX Altegris Fixed Income Long Short Fund Premium Point Investments is no longer a subadvisor to the fund. As a result, Anilesh Ahuja and Amin Majidi are no longer listed as portfolio managers for the fund. Kevin Schweitzer, Eric Bundonis, Peter Reed, David Steinberg, and Antolin Garza will continue to manage the fund. 4/16
AFXAX American Beacon Flexible Bond Adriana Posada has retired from her position as a portfolio manager The rest of the team remains 4/16
ALMEX ASTON/LMCG Emerging Markets Fund Vikram Srimurthy is no longer a portfolio manager of the fund. Gordon Johnson and Shannon Ericson will continue to manage the fund 4/16
BVEFX Becker Value Equity Fund No one, but … Sid Parakh joins Thomas McConville, Andy Murray, Marian Kessler, Michael McGarr, Stephen Laveson, and Patrick Becker Jr. 4/16
BFRAX BlackRock Floating Rate Income Leland Hart will remain with BlackRock, but step down from fund management to “pursue other interests.” James Keenan, C. Adrian Marshall and Joshua Tarnow will continue to manage the fund. 4/16
BMMAX BlackRock Multi-Manager Alternative Strategies Fund No one, but … GLG Partners has been added as a seventh subadvisor to the fund. 4/16
BMSAX BlackRock Secured Credit Portfolio Leland Hart will remain with BlackRock, but step down from fund management to “pursue other interests.” C. Adrian Marshall, Mitchell Garfin and Carly Wilson will continue to manage the fund. 4/16
CSIBX Calvert Bond Portfolio Mauricia Agudelo will no longer serve as a portfolio manager for the fund. Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund 4/16
CFWAX Calvert Global Water Fund Catherine Ryan and Matthew Sheldon are no longer listed as portfolio managers for the fund whose star rating is mostly driven by the fact that it’s being compared to energy funds. The new team is Lise Bernhard, Jade Huang, Christopher Madden, Matthew Moore and Laurie Webster. 4/16
CGAFX Calvert Green Bond Fund Mauricia Agudelo will no longer serve as a portfolio manager for the fund. Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund 4/16
CYBAX Calvert High Yield Bond Fund Mauricia Agudelo will no longer serve as a portfolio manager for the fund. Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund 4/16
CFICX Calvert Income Fund Mauricia Agudelo will no longer serve as a portfolio manager for the fund. Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund 4/16
CLDAX Calvert Long-Term Income Fund Mauricia Agudelo will no longer serve as a portfolio manager for the fund. Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund 4/16
CSDAX Calvert Short Duration Income Fund Mauricia Agudelo will no longer serve as a portfolio manager for the fund. Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund 4/16
CULAX Calvert Ultra-Short Income Fund Mauricia Agudelo will no longer serve as a portfolio manager for the fund. Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund 4/16
CAMOX Cambiar Opportunity Fund Maria Mendelsberg will no longer serve as a portfolio manager for the fund. Brian Barish, Anna Aldrich, Timothy Beranek, Andrew Baumbusch, Jeffrey Susman and Colin Dunn will continue to manage the fudn 4/16
CAMSX Cambiar Small Cap Fund Maria Mendelsberg will no longer serve as a portfolio manager for the fund. Brian Barish, Anna Aldrich, Timothy Beranek, Andrew Baumbusch, Jeffrey Susman and Colin Dunn will continue to manage the fudn 4/16
CAMMX Cambiar Smid Fund Maria Mendelsberg will no longer serve as a portfolio manager for the fund. Brian Barish, Anna Aldrich, Timothy Beranek, Andrew Baumbusch, Jeffrey Susman and Colin Dunn will continue to manage the fudn 4/16
CMCIX Capital Management Mid Cap Fund Ralph Scarpa is no longer listed as a portfolio manager for the fund. Alexander Cripps and W. Jameson McFadden will now manage the fund. 4/16
CMSSX Capital Management Small Cap Fund Ralph Scarpa is no longer listed as a portfolio manager for the fund. Alexander Cripps and W. Jameson McFadden will now manage the fund. 4/16
CPMPX Changing Parameters Fund David Levenson is no longer listed as a portfolio manager for the fund. Howard Smith will continue to manage the fund’s parameters. 4/16
SUIAX Deutsche CROCI International Fund No one, but … John Moody joins Di Kumble in managing the fund. 4/16
SKNRX Deutsche Enhanced Commodity Strategy Fund No one, but … Rick Smith joined the team of Eric Meyer, John Ryan, Darwei Kung and Sonali Kapoor 4/16
SGDAX Deutsche Gold & Precious Metals Fund Michael Bernadiner and Terence Brennan are no longer listed as portfolio managers for the fund. Scott Ikuss, Felice Tecce and John Vojticek are now managing the fund. 4/16
MIDVX Deutsche Mid Cap Value Fund Richard Glass left the fund in March, and was replaced Matthew Cino, who lasted precisely 30 days on the job. Richard Hanlon and Mary Schafer are now managing the fund. 4/16
KDSAX Deutsche Small Cap Value Fund Richard Glass left the fund in March, and was replaced Matthew Cino, who lasted precisely 30 days on the job. Richard Hanlon and Mary Schafer are now managing the fund. 4/16
DMVAX Dreyfus Select Managers Small Cap Value Fund Iridian Asset Management has terminated its agreement with Dreyfus. Jordan Alexander and Stephen Friscia will no longer be on the management team. The rest of the extensive team remains. 4/16
FSCGX Fidelity Select Industrial Equipment Portfolio Boris Shepov will no longer serve as a portfolio manager for the fund. Janet Glazer and Tobias Welo will manage the fund. 4/16
FIINX First Investors International Fund Rajiv Jain is no longer a portfolio manager for the fund Matthew Benkendorf, Vontobel’s CIO, will manage the fund 4/16
FMIMX FMI Common Stock Fund Karl T. Poehls is leaving at the end of May 2016 to pursue “other business activities and personal interests.” Jordan Teschendorf joins the extensive team in managing the fund. 4/16
FMIJX FMI International Fund Karl Poehls is leaving at the end of May 2016 Jordan Teschendorf joins the extensive team in managing the fund. 4/16
FMIHX FMI Large Cap Fund Karl T. Poehls is leaving at the end of May 2016 Jordan Teschendorf joins the extensive team in managing the fund. 4/16
FBDIX Franklin Biotechnology Discovery Fund No one, but perhaps pursuant to the fund’s decision to reopen to new investors in May 2016 … Christopher Lee joins Evan McCulloch and Steven Kornfeld in managing the fund. 4/16
HWDAX Hartford World Bond Robert Evans has announced his plan to retire at the end of the year. As part of his plan, he will step down from his portfolio manager role as of June 30, 2016. Mark Sullivan will continue to manage the fund 4/16
HGAAX Henderson All Asset Fund Bill McQuaker is no longer listed as a portfolio manager for the fund. Paul O’Connor and Chris Paine will continue to run the fund. 4/16
HFOAX Henderson International Opportunities Fund No one, but … Paul O’Connor joins Stephen Peak, Nicholas Cowley, Glen Finegan, Andrew Gillian, Ronan Kelleher, Vincent Musumeci, Tim Stevenson, and Ian Warmerdam on the management team. 4/16
IPOAX Ivy Emerging Markets Equity Fund Effective May 14, 2016, Frederick Jiang will no longer serve as a co-manager of the fund. Jonas Krumplys will continue to manage the fund. 4/16
JDDAX Janus Diversified Alternatives Fund Richard Lindsey is no longer listed as a portfolio manager for the fund. John Fujiwara and Andrew Weisman will continue to run the fund. 4/16
JDVAX JPMorgan Diversified Fund Effective immediately, Nicole Goldberger is on maternity leave and will not be involved in the day to day management of the fund. John Speer and Michael Schoenhaut will continue to manage the fund in her absence. She’s expected to return in mid-June. 4/16
JRNAX JPMorgan Diversified Real Return Fund Effective immediately, Nicole Goldberger is on maternity leave and will not be involved in the day to day management of the fund. John Speer and Michael Schoenhaut will continue to manage the fund in her absence. She’s expected to return in mid-June. 4/16
OHYAX JPMorgan High Yield Fund In order to separate trading functions from portfolio management functions, James Gibson will no longer be included in the list of portfolio managers for the fund but will continue his focus as principal high yield trader for the high yield team. William Morgan and James Shanahan will continue to manage the fund. 4/16
LIMAX Lateef Fund Matthew Sauer will no longer serve as a portfolio manager for the fund. Quoc Tran, James Tarkenton, and David Geisler continue as co-portfolio managers of the fund 4/16
LCRAX Lord Abbett Core Fixed Income Jerald Lanzotti is no longer listed as a portfolio manager for the fund. Leah Traub joins Kewjin Yuoh, Robert Lee, and Andrew O’Brien in managing the fund. 4/16
NOIEX Northern Income Equity Fund John Ferguson is no longer a portfolio manager of the fund Jacob Weaver will continue to manage the fund 4/16
PIOTX Pioneer Core Equity James Moynihan is no longer listed as a portfolio manager for the fund. John Peckham and Craig Sterling will continue to manage the fund. 4/16
RSINX RS Investors Fund Byron Penstock is no longer listed as a portfolio manager for the fund. Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. 4/16
GPAFX RS Large Cap Alpha Fund Byron Penstock is no longer listed as a portfolio manager for the fund. Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. 4/16
RSPFX RS Partners Fund Byron Penstock is no longer listed as a portfolio manager for the fund. Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. 4/16
RSVAX RS Value Fund Byron Penstock is no longer listed as a portfolio manager for the fund. Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. 4/16
SIMFX Sims Total Return Fund Barry Arnold and Lilli Gust are no longer listed as portfolio managers for the fund. David Sims and Luke Sims have taken over management of the fund. 4/16
GTFAX SunAmerica Global Trends Fund Richard Wurster will no longer serve as a portfolio manager for the fund. Stephen Gorman is now managing the fund. 4/16
PRWAX T. Rowe Price New America Growth Fund Daniel Martino left the fund in April, 2016. Justin White is now listed as manager for the fund. 4/16
TEMAX Touchstone Emerging Markets Small Cap Wayne Hollister is out. Stephen Dexter and H. David Shea are in. 4/16
UVALX USAA Value Fund Timothy Culler retired from his portfolio manager position. The fund will continue to be managed by the rest of the team: Mark Giambrone, John Harloe, James McClure, R. Lewis Ropp, Jeff Fahrenbruch, David Ganucheau, and Cory Martin. 4/16

 

Manager changes, March 2016

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
ADVMX Advisory Research Emerging Markets Opportunities Fund Jonathan Brodsky no longer serves as portfolio manager of the funds. Drew Edwards and Marco  Priani will continue to manage the fund. 3/16
ADVWX Advisory Research Global Value Fund Jonathan Brodsky no longer serves as portfolio manager of the funds. Drew Edwards, Marco Priani, Matthew Swaim, James Langer and Bruce Zessar will continue as portfolio managers 3/16
ADVEX Advisory Research International All Cap Value Fund Jonathan Brodsky no longer serves as portfolio manager of the funds. Drew Edwards and Marco  Priani will continue to manage the fund. 3/16
ADVIX Advisory Research International Small Cap Value Fund Jonathan Brodsky no longer serves as portfolio manager of the funds. Drew Edwards and Marco  Priani will continue to manage the fund. 3/16
PGWAX AllianzGI Focused Growth Fund David Jedlicka will no longer serve as a portfolio manager for the fund. Scott Migliori, Karen Hiatt, and Raphael Edelman will manage the fund until Mssr. Migliori’s departure at the end of June. 3/16
ELSAX Altegris Equity Long Short Fund Robert Murphy and Richard Schimel have been removed as portfolio managers Edgardo Goldaracena has been added as a portfolio manager, joining Eric Bundonis, Don Destino, Kelly Wiesbrock, Robert Kim, Richard Chilton, and Emmanuel Ferreira 3/16
FXDAX Altegris Fixed Income Long Short Fund Robert Murphy has been removed as a portfolio manager of the fund. Antolin Garza has been added as portfolio manager, joining Eric Bundonis, Kevin Schweitzer, Amin Majidi, Anilesh “Neil” Ahuja, David Steinberg and Peter Reed 3/16
EVOAX Altegris Futures Evolution Strategy Fund Robert Murphy has been removed as a portfolio manager of the fund. Lara Magnusen has been added as portfolio manager, joining Matthew Osborn, Eric Bundonis, and Jeffrey Gundlach 3/16
MCRAX Altegris Macro Strategy Fund Robert Murphy has been removed as a portfolio manager of the fund. Eric Bundonis, Matthew Osborne, and John Tobin will continue to manage the fund. 3/16
MULAX Altegris Multi-Strategy Alternative Fund Robert Murphy is out Edgardo Goldaracena and Antolin Garza have joined Lara Magnusen in running the fund 3/16
RAAAX Altegris/AACA Real Estate Long Short Fund Eric Bundonis has been removed as portfolio manager Burland East is now the sole portfolio manager 3/16
Various American Century Balanced Fund, Core Equity Plus Fund,  Disciplined Growth Fund, Disciplined Growth Plus Fund, Equity Growth Fund, Global Gold Fund, NT Core Equity Plus Fund, NT Disciplined Growth Fund, NT Equity Growth Fund, Strategic Inflation Opportunities Fund,  and Utilities Fund William Martin, Senior Vice President and Senior Portfolio Manager, has announced his plans to retire from American Century Investments. As a result, he will no longer serve as a portfolio manager of the funds as of May 18, 2016. The rest of the management teams remain. 3/16
BXIAX Babson Global Credit Income Opportunities Fund Zak Summerscale and Kam Tugnait are no longer listed as portfolio managers for the fund. Martin Horne joins Michael Freno, Sean Feeley, and Scott Roth in managing the fund. 3/16
BXGAX Babson Global High Yield Fund Zak Summerscale is no longer listed as a portfolio manager for the fund. Martin Horne joins Michael Freno, Sean Feeley, and Scott Roth in managing the fund. 3/16
BACPX BlackRock 20/80 Target Allocation Fund Russ Koesterich is no longer listed as a portfolio manager for the fund. Michael Gates and Vishal Karir are the portfolio managers of the fund. 3/16
BAMPX BlackRock 40/60 Target Allocation Fund Russ Koesterich is no longer listed as a portfolio manager for the fund. Michael Gates and Vishal Karir are the portfolio managers of the fund. 3/16
BAGPX BlackRock 60/40 Target Allocation Fund Russ Koesterich is no longer listed as a portfolio manager for the fund. Michael Gates and Vishal Karir are the portfolio managers of the fund. 3/16
BAAPX BlackRock 80/20 Target Allocation Fund Russ Koesterich is no longer listed as a portfolio manager for the fund. Michael Gates and Vishal Karir are the portfolio managers of the fund. 3/16
BQMIX Bright Rock Mid Cap Growth Fund Jason Lilly has resigned from Bright Rock Capital Management Douglas Butler and David Smith continue to serve as portfolio managers of the fund 3/16
BQLIX Bright Rock Quality Large Cap Fund Jason Lilly has resigned from Bright Rock Capital Management Douglas Butler and David Smith continue to serve as portfolio managers of the fund 3/16
BIAVX Brown Advisory Value Equity Fund Richard Bernstein is no longer managing the fund, but has not left the company. Colleagues have staked out the breakroom in hopes of recapturing him. Doron Eisenberg and Michael Foss will stay with the fund. 3/16
CHYDX Calamos High Income Fund Christopher Langs is no longer listed as a portfolio manager for the fund. Chuck Carmody joins John Calamos, Sr., John Hillenbrand, Eli Pars, Jon Vacko, and Jeremy Hughes. 3/16
CTRAX Calamos Total Return Bond Fund Christopher Langs is no longer listed as a portfolio manager for the fund. Chuck Carmody joins John Calamos, Sr., John Hillenbrand, Eli Pars, Jon Vacko, and Jeremy Hughes. 3/16
CIOAX Calvert International Opportunities Fund Jonathan Brodsky and Pablow Salas are no longer listed as portfolio managers for the fund. William Sterling, David Runkle, Jessica Reuss, Marco Priani, Gregory Gigliotti, and Drew Edwards remain. 3/16
NLGIX Columbia Global Strategic Equity Fund Robert McConnaughey is no longer listed as a portfolio manager for the fund. Melda Mergen joins Mark Burgess in managing the fund. 3/16
MIDVX Deutsche Mid Cap Value Fund   Richard Glass in no longer listed as a portfolio manager Team members, Matthew Cino, Richard Hanlon, and Mary Schafer, move of to co-manager roles.  3/16
KDSAX Deutsche Small Cap Value Fund Richard Glass in no longer listed as a portfolio manager Team members, Matthew Cino, Richard Hanlon, and Mary Schafer, move of to co-manager roles. 3/16
FKCGX Franklin Flex Cap Growth Fund, which will be merged into Franklin Growth at the end of August. Conrad Herrmann is no longer listed as a portfolio manager for the fund. Matthew Moberg and Robert Stevenson continue on. 3/16
FKGRX Franklin Growth Fund Conrad Herrmann is no longer listed as a portfolio manager for the fund. Matthew Moberg and Robert Stevenson join Serena Perin Vinton in managing the fund. 3/16
GNLRX Geneva Advisors Emerging Markets Fund No one, but … Matthew Scherer has joined Reiner Triltsch and Eswar Menon. 3/16
GHAFX Granite Harbor Alternative Fund Matthew Werner and Bruce Garrison are no longer listed as portfolio managers for the fund. Peter DeCaprio, Andrew Tuttle, Charles Chen, Amit Chandra, and Ian Arvin have joined Charles Borquist, Peter Lupoff, Ronald Robertson, and Michael Dubinsky. 3/16
GHTFX Granite Harbor Tactical Fund Matthew Werner and Bruce Garrison are no longer listed as portfolio managers for the fund. Peter DeCaprio, Andrew Tuttle, Charles Chen, Amit Chandra, and Ian Arvin have joined Charles Borquist, Peter Lupoff, Ronald Robertson, and Michael Dubinsky. 3/16
HABMX Hartford Real Total Return Fund Rick Wurster no longer serves as a portfolio manager Stephen Gorman will continue to serve as a portfolio manager 3/16
AUBAX Invesco International Total Return Fund Mark Nash is no longer listed as a portfolio manager for the fund. Avi Hooper, Raymund Uy, and Robert Waldner remain on the fund. 3/16
OGIAX JPMorgan Investor Balanced Fund James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. 3/16
OICAX JPMorgan Investor Conservative Growth Fund James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. 3/16
ONGIX JPMorgan Investor Growth & Income Fund James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. 3/16
ONGAX JPMorgan Investor Growth Fund James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. 3/16
GMNRX LMCG Global Market Neutral Fund Vikram Srimurthy is no longer a portfolio manager of the fund. Shannon Ericson and Gordon Johnson remain. 3/16
LSCAX Loomis Sayles Dividend Income Fund Matthew Eagan, Daniel Fuss and Elaine Stokes no longer serve as co-portfolio managers of the fund. Arthur Barry and Adam Liebhoff remain as co-portfolio managers of the fund. 3/16
LCDAX Lord Abbett Emerging Markets Corporate Debt Fund Jerald Lanzotti is no longer listed as a portfolio manager for the fund. Andrew O’Brien, Leah Traub, and Robert Lee will continue to manage the fund. 3/16
LEMAX Lord Abbett Emerging Markets Local Bond Fund Jerald Lanzotti is no longer listed as a portfolio manager for the fund. David Ritt, Leah Traub, and Robert Lee will continue to manage the fund. 3/16
LICAX Lord Abbett International Core Equity Fund Todd Jacobson and Vincent McBride are no longer listed as portfolio managers for the fund. Didier Rosenfeld and Frederick Ruvkun will now manage the fund. 3/16
FAIIX Nuveen Core Bond No one, but… Jason O’Brien will join Chris Neuharth, Wan-Chong Kung, and Jeffrey Ebert on the management team 3/16
FAFIX Nuveen Core Plus Bond Fund No one, but … Douglas Baker joins Timothy  Palmer, Chris Neuharth, Wan-Chong Kung and Jeffrey Ebert on the management team. 3/16
FALTX Nuveen Short Term Bond Fund No one, but … Jason O’Brien and Mackenzie Meyer will join Chris Neuharth and Peter Agrimson on the management team. 3/16
FCDDX Nuveen Strategic Income Fund No one, but … Douglas Baker joins Timothy  Palmer, Jeffrey Ebert and Marie Newcome on the management team. 3/16
OASGX Optimum Small-Mid Cap Growth Fund No one, yet. Columbus Circle Investors and Peregrine Capital Management have been added as subadvisors to the fund. 3/16
PASEX Permal Alternative Select Fund No one, but … Elecron Capital Partners has been added as a fifth subadvisor to the fund. 3/16
AOBLX Pioneer Classic Balanced Fund Richard Schlanger is no longer listed as a portfolio manager for the fund. Walter Hunnewell, Jr. is joined by Charles Melchreit and Brad Komenda on the management team. 3/16
Various PNC Balanced Allocation Fund, PNC Retirement Income Fund, PNC Target 2020 Fund, PNC Target 2030 Fund, PNC Target 2040 Fund and PNC Target 2050 Fund. No one, but … Jason Weber and Michael Colemen will be joining the management team. 3/16
SGMNX Schroder Global Multi-Asset Income Fund Iain Cunningham is no longer listed as a portfolio manager for the fund. Aymeric Forest will continue to manage the fund. 3/16
SEQUX Sequoia Long-time manager Robert Goldfarb, whose name is above the door: Ruane, Cunniff and Goldfarb, steps down at 71. David Poppe becomes the sole manager. 3/16
SSELX State Street Disciplined Emerging Markets Equity Fund Jean-Christophe de Beaulieu is no longer listed as a portfolio manager for the fund. Chee Ooi joins Chris Laine to manage the fund. 3/16
FSCFX Strategic Advisers Small-Mid Cap Fund No one, but … J.P. Morgan Investment Management has been added as a subadvisor to the fund. Don San Jose joins the extensive management team to manage JPMorgan’s portion of the fund’s assets. 3/16
Various USAA First Start Growth Fund, USAA Cornerstone Conservative Fund, USAA Cornerstone Moderately Conservative Fund, USAA Cornerstone Moderate Fund, USAA Cornerstone Moderately Aggressive Fund, USAA Cornerstone Aggressive Fund, USAA Cornerstone Equity Fund, USAA Managed Allocation Fund No one, but … Lance Humphry joins the management team of each of the funds. 3/16
HEMZX Virtus Emerging Markets Opportunities Fund Rajiv Jain is no longer a portfolio manager for the fund Matthew Benkendorf, Vontobel’s CIO, will manage the fund 3/16
JVIAX Virtus Foreign Opportunities Fund Rajiv Jain is no longer a portfolio manager for the fund Matthew Benkendorf, Vontobel’s CIO, will manage the fund 3/16
NWWOX Virtus Global Opportunities Fund Rajiv Jain is no longer a portfolio manager for the fund Matthew Benkendorf, Vontobel’s CIO, will manage the fund 3/16
VGEAX Virtus Greater European Opportunities Fund Rajiv Jain is no longer a portfolio manager for the fund Daniel Kranson will become the sole portfolio manager 3/16
WMLIX Wilmington Large Cap Strategy Fund Mark Schultz will no longer serve as a portfolio manager for the fund. Matthew Glaser will join Andrew Hopkins and Karen Purzitsky in managing the fund 3/16

 

Manager changes, February 2016

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
APJAX Aberdeen Asia-Pacific (ex-Japan) Equity Fund Chou Chong will no longer serve as a portfolio manager for the fund. Hugh Young, Flavia Cheong, Adrian Lim, and Christopher Wong will continue to manage the fund. 2/16
APCAX Aberdeen Asia-Pacific Smaller Companies Fund Chou Chong will no longer serve as a portfolio manager for the fund. Hugh Young, Flavia Cheong, Adrian Lim, and Christopher Wong will continue to manage the fund. 2/16
BHGSX Baird LargeCap Fund Baird Kailash Group will no longer subadvise the fund. L2 Asset Management will be the new subadvisor to the fund. Sanjeev Bhojraj will join Matthew Malgari in managing the fund. 2/16
BAEMX BMO LGM Emerging Markets Equity Fund No one, but … Irina Hunter and Rasmus Nemmoe are joined by Rishikesh Patel in managing the fund. 2/16
ASVAX Columbia Multi-Advisor Small Cap Value Fund Mark Dickherber and Shaun Nicholson are no longer listed as portfolio managers for the fund. Kari Montanus and Richard Rosen will manage the fund. 2/16
AAIFX Crow Point Alternative Income Fund, formerly Armor Alternative Income Fund Joel Price (which is to say, “Armor”) is gone. Peter DeCaprio, Andrew Tuttle, Charles Chen, Amit Chandra, and Ian Arvin are now managing the fund. 2/16
TOLLX Deutsche Global Infrastructure Fund John Robertson is no longer listed as a portfolio manager for the fund. John Vojticek, Francis Greywitt, and Manoj Patel continue to manage the fund. 2/16
DSLAX Deutsche Strategic Equity Long/Short Fund Omega Advisors will no longer subadvise the fund, effective April 15, 2016 The other three subadvisors, Atlantic Investment Management, Chilton Investment Management, and Lazard Asset Management, remain. 2/16
FIDSX Fidelity Select Financials Sector Christopher Lee is no longer listed as a portfolio manager for the fund. Daniel Dittler will continue to manage the fund. 2/16
FSHCX Fidelity Select Health Care Services Portfolio Steven Bullock is no longer listed as a portfolio manager for the fund. Justin Segalini and Edward Yoon are managing the fund. 2/16
FLSRX Forward Credit Analysis Long Short Joseph Deane is expected to retire at the end of May, 2016 David Hammer will soldier on alone 2/16
PGEOX George Putnam Balanced Fund Kevin Murphy is no longer listed as a portfolio manager for the fund. Aaron Cooper is joined by Paul Scanlon. 2/16
GHAFX Granite Harbor Alternative Fund Chilton Capital Management, Coe Capital Management, Phineas Partners, and Tiburon Capital Management are all out as subadvisors to the fund Genesis Capital will continue to advise the fund and SeaBridge Investment Advisor remains listed as a subadvisor to the fund. 2/16
GHTFX Granite Harbor Tactical Fund Chilton Capital Management, Coe Capital Management, Phineas Partners, and Tiburon Capital Management are all out as subadvisors to the fund Genesis Capital will continue to advise the fund and SeaBridge Investment Advisor remains listed as a subadvisor to the fund. 2/16
HRTVX Heartland Value Fund Adam Peck has resigned from his role as portfolio manager. Eric Miller has been promoted to co-manager and will manage the fund with current co-manager, William Nasgovitz. 2/16
CAAMX Invesco Conservative Allocation Fund Scott Wolle, Christian Ulrich, Scott Hixon, Chris Devine, and Mark Ahnrud are no longer listed as portfolio managers for the fund. Jacob Borbidge and Duy Nguyen are managing the fund. 2/16
AADAX Invesco Growth Allocation Fund Scott Wolle, Christian Ulrich, Scott Hixon, Chris Devine, and Mark Ahnrud are no longer listed as portfolio managers for the fund. Jacob Borbidge and Duy Nguyen are managing the fund. 2/16
AMKAX Invesco Moderate Allocation Fund Scott Wolle, Christian Ulrich, Scott Hixon, Chris Devine, and Mark Ahnrud are no longer listed as portfolio managers for the fund. Jacob Borbidge and Duy Nguyen are managing the fund. 2/16
JEITX JPMorgan Global Research Enhanced Index Fund No one, but … Piera Elisa Grassi has joined Ido Eisenberg and James Cook in managing the fund. 2/16
OEIAX JPMorgan International Research Enhanced Equity Fund No one, but … Piera Elisa Grassi has joined Demetris Georghiou, Ido Eisenberg and James Cook on the management team. 2/16
MIEIX MFS Institutional International Equity Marcus Smith will be leaving on April 1, 2016 Filipe Benzinho is joining Daniel Ling to manage the fund. 2/16
MALGX Mirae Asset Emerging Markets Fund No one, but … Bert van der Walt is joining Jose Morales and Rahul Chadha in managing the fund 2/16
MCCGX Mirae Asset Emerging Markets Great Consumer Fund No one, but … Bert van der Walt is joining Jose Morales and Joohee An in managing the fund 2/16
MGUAX Mirae Asset Global Great Consumer Fund No one, but … Ryan Coyle will join Jose Morales in managing the fund. 2/16
NBGNX Neuberger Berman Genesis Fund No one, quite yet. However, Michael Bowyer has announced his decision to retire from the asset management business on July 31, 2016. The rest of the team — Judith Vale, Robert D’Alelio, Brett Reiner, and Gregory Spiegel — will remain as managers of the fund. 2/16
PCOAX Putnam Capital Opportunities Fund Randy Farina and John McLanahan are no longer listed as portfolio managers for the fund. Pam Gao will manage the fund. 2/16
PNVAX Putnam International Capital Opportunities Fund John McLanahan is no longer listed as a portfolio manager for the fund. Brett Risser and Robert Schoen will manage the fund. 2/16
PVOYX Putnam Voyager Fund Nick Thakore is no longer listed as a portfolio manager for the fund. He produced his peer group’s most volatile and worst-performing fund, and managed to last eight years on the job. Robert Brookby , whose other funds are admirably mediocre, will now manage the fund. 2/16
RWDNX Redwood Managed Volatility Portfolio Bruce DeLaurentis is no longer a portfolio manager of the fund. Michael Cheung has been promoted to serve as a portfolio manager with Michael Messinger. 2/16
SEAKX Steward Select Bond Fund No one, but Edward Jaroski is beginning to plan for his retirement. Upon Mr. Jaroski’s retirement, the fund will continue to be managed by Victoria Fernandez and Claude Cody. 2/16
FSAMX Strategic Advisers Emerging Markets Fund No one, but … John Chow and Cesar Hernandez are joining Wilfred Chilangwa, John Chisholm, Matthew Vaight, and Edward Robertson on the management team. 2/16
FSGFX Strategic Advisers Growth Fund Vincent Zelenko is no longer listed as a portfolio manager for the fund. Niall Devitt joins the extensive management team. 2/16
PRHSX T. Rowe Price Health Sciences Taymour Tamaddon, an unsung superstar, will be stepping down as portfolio manager of the fund on July 1, 2016. Ziad Bakri will join Mr. Tamaddon as co-manager and will become sole portfolio manager in July. 2/16
TEMAX Touchstone Emerging Markets Equity Fund AGF Investments is no longer subadvising the fund. Stephen Way is no longer listed as a portfolio manager. Russell Investments has been named as an interim advisor, with Wayne Hollister managing the fund. 2/16
TGAAX Touchstone Global Real Estate Douglas Funke, Daniel Pine and Jana Sehnalova are no longer listed as portfolio managers for the fund. Russell Investments has been named as an interim advisor, with Wayne Hollister managing the fund. 2/16
VPTSX Vantagepoint Inflation Focused Fund Rajen Jadav no longer serves as a portfolio manager. Mihir Worah, Martin Hegarty, Gargi Chaudhuri, and Greg Wilensky will continue to manage the fund. 2/16
WHVIX WHV International Equity Fund Richard Hirayama is no longer listed as a portfolio manager for the fund. Matthias Knerr, Chris LaJaunie, and Andrew Manton will now manage the fund. 2/16
YAFFX Yacktman Focus Founder Donald Yacktman is retiring from management on May 1, though he’ll remain as an advisor. Stephen Yacktman and Jason Subotky will continue to manage the fund. 2/16
YACKX Yacktman Fund Founder Donald Yacktman is retiring from management on May 1, though he’ll remain as an advisor. That’s kind of a “yikes.” Stephen Yacktman and Jason Subotky will continue to manage the fund. 2/16

Manager changes, January 2016

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
SPEAX Alger Mid Cap Focus Fund Dan Chung is no longer listed as a portfolio manager of the fund Alex Goldman is the portfolio manager of the fund. 1/16
ALSAX Alger Small Cap Growth Portfolio Jill Greenwald is on temporary medical leave. Daniel Chung will serve as portfolio manager in her absense. Amy Zhang will remain on the fund. 1/16
PGWAX AllianzGI Focused Growth Fund No one, right now. However, Scott Migliori will be leaving the fund as of June 30, 2016. Raphael Edelman is joining Mssr. Migliori, Karen Hiatt, and David Jedlicki on the management team. On June 30, Ms. Hiatt will assume the role of lead portfolio manager. 1/16
ACCVX American Century Capital Value Fund Matt Titus is no longer listed as a portfolio manager for the fund. Brian Woglom joins Brendan Healy in managing the fund. 1/16
ALPAX American Century Large Company Value Fund Matt Titus is no longer listed as a portfolio manager for the fund. Brian Woglom joins Brendan Healy in managing the fund. 1/16
ATASX Aston Small Cap Fund – formerly Aston TAMRO Small Cap, soon-to-be AMG GW&K Small Cap Growth Fund TAMRO Capital Partners have been discharged from their subadvisor role. Therefore, Philip Tasho and Timothy Holland are no longer listed as portfolio managers for the fund. GW&K Investment Management, LLC is now subadvisor to the fund. Daniel Miller and Joseph Craigen now manage the fund. 1/16
CTBIX ASTON/TCH Fixed Income Fund Tere Alvarez Canida, TCH’s founder, will no longer serve as a portfolio manager for the fund. Janelle Woodward and Frank Reda join Daniela Mardarovici, Scott Kimball, Alan Habacht and William Canida in managing the fund. 1/16
AVEMX Ave Maria Catholic Values Fund Gregory Heilman is no longer listed as a portfolio manager for the fund. Timothy Schwartz and Joseph Skornicka join George Schwartz in running the fund. 1/16
BTSMX Boston Trust SMID Cap Fund Stephen Franco and Heidi Vanni are no longer listed as managers of the fund. Kenneth Scott will continue to run the fund. 1/16
CLPAX Catalyst/Lyons Hedged Premium Return Fund No one, but … Matthew Ferratusco joins Brent Haworth, Alexander Read, and Michael Schoonover in managing the fund 1/16
CLTAX Catalyst/Lyons Tactical Allocation Fund No one, but … Matthew Ferratusco joins Brent Haworth, Alexander Read, and Michael Schoonover in managing the fund 1/16
LTFAX Columbia Acorn Select Robert Chalupnik is deceased. David Frank joins Matthew Szafranski in managing the fund. 1/16
CSVFX Columbia Global Dividend Opportunity Dean Ramos and Steven Schroll are no longer listed as portfolio managers for the fund. Stephen Thornber and Jonathan Crown are now managing the fund. 1/16
INEGX Columbia Global Equity Value Fund Dean Ramos, Steven Schroll, and Paul Stocking are no longer listed as portfolio managers for the fund. Fred Copper, Melda Mergen, and Peter Santoro are now managing the fund. 1/16
SMCEX Columbia Small Cap Core Fund Paul Szczygiel and Jeffrey Hershey are no longer listed as portfolio managers for the fund Alred Alley, III and Brian Condon are now managing the fund. 1/16
TLVUX Consulting Group Large Capitalization Value Equity Fund HGK Asset Management is no longer a subadvisor to the fund. Delaware Investments Fund Advisers is a new subadvisor to the fund. 1/16
FUTEX Discretionary Managed Futures Strategy Fund Robert Johnson no longer serves as a portfolio manager of the fund. Brian Borneman, John Milne, Robert Vear, and Deborah Wingerson continue to manage the fund. 1/16
DDBAX Dreyfus Emerging Markets Debt Local Currency Fund Alexander Kozhemiakin is no longer listed as a portfolio manager to the fund. Javier Murcio and Federico Garcia Zamora continue to manage the fund. 1/16
DTMAX Dreyfus Total Emerging Markets Fund Alexander Kozhemiakin is no longer listed as a portfolio manager to the fund. Josephine Shea, Federico Garcia Zamora and Gaurav Patankar join Sean Fitzgibbon in managing the fund. 1/16
FABLX Fidelity Advisor Balanced Fund Peter Saperstone is no longer listed as a portfolio manager on the fund. Peter Dixon joins Ford O’Neil, Monty Kori, Jonathan Kasen, Brian Lempel, Tobias Welo, Robert Stansky, Pierre Sorel, Douglas Simmons, Robert Lee, and Steven Kaye in managing the fund. 1/16
FCVAX Fidelity Advisor Small Cap Value Fund Charles Myers no longer serves as a co-manager of the fund. Derek Janssen will continue to manage the fund. 1/16
FCONX Fidelity Conservative Income Bond Fund No one, but . . . Kim Miller is joined by Robert Chan and Robert Galusza. 1/16
FLATX Fidelity Latin America Fund Adam Kutas no longer serves as lead portfolio manager of the fund. Will Pruett will continue to manage the fund. 1/16
FSAEX Fidelity Series All-Sector Equity Fund Peter Saperstone is no longer listed as a portfolio manager on the fund. Peter Dixon joins Jonathan Kasen, Brian Lempel, Tobias Welo, Robert Stansky, Pierre Sorel, Douglas Simmons, Robert Lee, and Steven Kaye. 1/16
PISRX Forward International Small Companies Fund Oliver Knobloch will no longer serve as a portfolio manager for the fund. The remaining members of the management team, David Janec, Nathan Rowader, Paul Broughton, Bill Barker, and Justin Hill, remain. 1/16
IHSAX Hartford Small Company Fund Jamie Rome will be withdrawing from Wellington Management (the subadvisor) at the end of June. He will no longer serve as a portfolio manager to the fund, effective immediately. Mammen Chally, Stephen Mortimer, Mario Abularach, and Steven Angeli will continue to manage the fund. 1/16
HEMAX Henderson Emerging Markets Fund No one, but … Michael Cahoon will be joining Glen Finegan in managing the fund at the end of February. 1/16
HFOAX Henderson International Opportunities Fund No one, but Ian Warmerdam will be taking a sabbatical through the end of 2016. Ronan Kelleher will continue to manage the fund. On January 1, 2017, Mssr. Warmerdam will return to his management responsibilities. 1/16
HPEAX Highland Premier Growth Equity Fund GE Asset Management will be terminated as a subadvisor effective March 1, 2016. David Carlson will no longer server as portfolio manager. Highland Captial Management will advise the fund. James Dondero and Michael Gregory are the new portfolio managers. 1/16
HISIX Homestead International Equity Fund Teddy Wong and Dwayne Hancock are no longer listed as portfolio managers. Ferrill Roll and Alexander Walsh will manage the fund. 1/16
JAIGX Janus Aspen Overseas Portfolio Brent Lynn is no longer listed as a porfolio manager George Maris is now managing the fund. 1/16
JMFAX Janus Emerging Markets Fund Wahid Chammas is no longer listed as a portfolio manager for the fund. Hiroshi Yoh will continue to manage the fund. 1/16
JDCAX Janus Forty Fund No one, but … Nick Shommer joins A. Douglas Rao in managing the fund. 1/16
JNOSX Janus Overseas Fund Brent Lynn is no longer listed as a porfolio manager George Maris is now managing the fund. 1/16
KZSIX Kaizen Hedged Premium Spreads Fund Wayne Ferbert and Jay Pestrichelli are no longer listed as portfolio managers of the fund. Matthew Thompson and Michael Thompson are managing the fund. 1/16
KFGAX KF Griffin Blue Chip and Covered Call Griffin Asset Management will no longer subadvise the fund and Douglas Famigletti will no longer serve as a portfolio manager for the fund. James Fields and Jonathan Roberts have taken over as portfolio managers to the fund as caretakers ahead of its liquidation. 1/16
MASNX Litman Gregory Masters Alternative Strategies Fund Tim Garry will no longer serve as a portfolio manager for the fund, effective immediately The rest of the extensive team remains. 1/16
PEAFX PIMCO RAE Fundamental Emerging Markets Fund Jason Hsu is no longer listed as a portfolio manager for the fund. The fund is now jointly managed by Robert Arnott and Christopher Brightman. 1/16
PZRAX PIMCO RAE Fundamental Global ex-US Fund Jason Hsu is no longer listed as a portfolio manager for the fund. The fund is now jointly managed by Robert Arnott and Christopher Brightman. 1/16
PFQAX PIMCO RAE Fundamental Global Fund Jason Hsu is no longer listed as a portfolio manager for the fund. The fund is now jointly managed by Robert Arnott and Christopher Brightman. 1/16
PPYAX PIMCO RAE Fundamental International Fund Jason Hsu is no longer listed as a portfolio manager for the fund. The fund is now jointly managed by Robert Arnott and Christopher Brightman. 1/16
PKAAX PIMCO RAE Fundamental US Fund Jason Hsu is no longer listed as a portfolio manager for the fund. The fund is now jointly managed by Robert Arnott and Christopher Brightman. 1/16
PMJAX PIMCO RAE Fundamental US Small Fund Jason Hsu is no longer listed as a portfolio manager for the fund. The fund is now jointly managed by Robert Arnott and Christopher Brightman. 1/16
SBMBX Saratoga Energy & Basic Materials Fund David Cohen is no longer managing the fund. John Brim, Stephanie Jones, and Stephen Smith will manage the fund. 1/16
SFPAX Saratoga Financial Service Portfolio Fund Thomas Finucane will no longer manage the fund John Brim and Stephen Smith will manage the fund. 1/16
SLCGX Saratoga Large Capitalization Growth Portfolio Fund Aziz Hamzaogullari John Brim and Stephen Smith will manage the fund. 1/16
SEEFX Saturna Sustainable Equity Fund Paul Meeks is no longer listed as a portfolio manager for the fund. Nicholas Kaiser joins Peter Nielsen in managing the fund. 1/16
SSGFX Sextant Growth Fund Paul Meeks is no longer listed as a portfolio manager for the fund. Tyler Howard joins Scott Klimo in managing the fund. 1/16
BGFAX UBS Asset Growth Fund  Curt Custard – whose name brings to mind images of a lemony pudding – no longer serves as a portfolio manager for the fund Luke Browne, Richard Lloyd and Philip Brides continue to manage the fund. 1/16
BNAAX UBS Dynamic Alpha Fund  Curt Custard no longer serves as a portfolio manager for the fund Jonathan Davies and Andreas Koester continue to manage the fund 1/16
BNGLX UBS Global Allocation Fund   Curt Custard no longer serves as a portfolio manager for the fund Jonathan Davies, Philip Brides and Andreas Koester continue to manage the fund 1/16
PWTAX UBS U.S. Allocation Fund Curt Custard is no longer a portfolio manager of the fund, effective immediately. Andreas Koester will continue to manage the fund. 1/16
VFTSX Vanguard FTSE Social Index Fund Christine Franquin is no longer listed as a portfolio manager of the fund William Coleman and Gerard O’Reilly will manage the fund. 1/16
VMRGX Vanguard Morgan Growth Fund Kalmar Investment Advisors is no longer a subadvisor to the fund. Dana Walker and Ford Draper are no longer listed as portfolio managers. The rest of the team, James Stetler, Paul Marrkand, Kathleen McCarragher, Stephen Knightly, Christopher Scarpa, Michael Roach, James Troyer, and Blair Boyer, remain to manage the fund. 1/16
MUXAX Victory S&P 500 Index Fund Michael Mikha and Eric Lessnau Dan Banaszak, Robert Bateman, David Hallum, Stephen Hammers, and Alex Pazdan are managing the fund. 1/16
IGPAX Voya Global Target Payment Fund No one, but … Jody Hrazanek joins Paul Zemsky as a mangerfor the fund. 1/16
NAWGX Voya Global Value Advantage Fund No one, but … Maya Venkatraman joins James Ying, Vincent Costa, Christoper Corapi, and Martin Jansen on the management team. 1/16
IEDAX Voya Large Cap Value Fund No one, but … James Dorment joins Kristy Finnegan, Vincent Costa, and Christopher Corapi in managing the fund. 1/16
WASMX Walden SMID Cap Innovations Fund Stephen Franco and Heidi Vanni are no longer listed as managers of the fund. Kenneth Scott will continue to run the fund. 1/16
WALTX Wells Fargo Alternative Strategies Fund Tim Garry will no longer serve as a portfolio manager for the fund, effective immediately The rest of the extensive team remains. 1/16
SILAX Wells Fargo Diversified International Fund Jeffrey Everett in longer on the management team. Mark Yockey, Josef Lakonishok, Puneet Mansharamani, Menno Vermeulen, and Dale Winner remain as portfolio managers for the fund. 1/16
WGLAX Wells Fargo Global Long/Short Fund Jeffrey Everett in longer on the management team. Dale Winner will continue to manage the fund. 1/16
WFEAX Wells Fargo International Equity Fund   Jeffrey Everett in longer on the management team. Dale Winner will continue to manage the fund. 1/16
IPBAX Wells Fargo Real Return Jeffrey Everett in longer on the management team. Kandarp Acharya, Michael Bradshaw, Christian Chan, Ann Miletti, Jay Mueller, Thomas Price and Dale Winner remain as portfolio managers for the fund. 1/16
WTMGX Westcore MIDCO Growth Fund Brian Fitzsimons, Mitch Begun, Adam Bliss, and Jeffrey Loehr are no longer managing the fund. Craig Juran will manage the fund. 1/16
WTSLX Westcore Select Fund Brian Fitzsimons, Mitch Begun, Adam Bliss, F. Wiley Reed and Jeffrey Loehr are no longer managing the fund. Craig Juran will manage the fund. 1/16
WTSGX Westcore Small-Cap Growth Fund Jeffrey Loehr and F. Wiley Reed are no longer listed as portfolio managers for the fund. Mitch Begun, Adam Bliss and Brian Fitzsimons will continue to manage the fund 1/16

 

Manager changes, December 2015

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
AEDQX American Century Emerging Markets Debt Fund Phil Yuhn will no longer serve as a portfolio manager to the fund Margé Karner, John Lovito, Brian Howell, and Kevin Akioka will remain with the fund 12/15
BDCAX AR Capital BDC Income Fund Robert Grunewald is no longer listed as a portfolio manager for the fund. Shiloh Bates is now managing the fund. 12/15
CWGDX Christopher Weil & Company Global Dividend Fund Luong Nguyen and Soledad Investment Management are no longer listed on the fund. John Wells, president of Christopher Weil & Company, has assumed management of the fund. 12/15
LGGAX Clearbridge Global Growth Trust, soon to be ClearBridge International Growth Fund No one, but . . . Elisa Mazen and Michael Testorf are joined by Pawel Wroblewski and Thor Olsson in managing the fund. 12/15
COGAX Columbia Select Global Growth Fund, formerly the Columbia Marsico Global Fund. Marsico Capital Management is out as a subadvisor and Thomas Marsico is no longer listed as a portfolio manager for the fund. That happens a lot. The fund is now managed by Thomas Galvin, Richard Carter, and Todd Herget. 12/15
CLVFX Croft Focus Fund No one, but . . . Patrick Halloran joins Kent Croft and G. Russell Croft in managing the fund. 12/15
DGFAX Davis Global Fund As of January 1, 2016, Tania Pouschine will be removed as a portfolio manager of the fund. Christopher Davis and Danton Goei will continue to manage the fund. 12/15
DILAX Davis International Fund As of January 1, 2016, Tania Pouschine will be removed as a portfolio manager of the fund. Christopher Davis and Danton Goei will continue to manage the fund. 12/15
DBOAX Dreyfus Balanced Opportunity Fund Sean Fitzgibbon is no longer listed as a portfolio manager for the fund. George DeFina and John Bailer have joined Keith Stransky, Brian Ferguson, David Bowser, and David Horsfall in managing the fund. 12/15
DGRIX Dreyfus Growth And Income Fund, Inc. No one, but . . . David Intoppa and Leigh Todd have joined Elizabeth Slover and John Bailer in managing the fund. 12/15
DLSAX Dreyfus Research Long/Short Equity Fund No one, but . . . Matthew Jenkin joins Elizabeth Slover and Matthew Griffin in managing the fund. 12/15
DAGVX Dreyfus Strategic Value Fund No one, but . . . David Intoppa has joined Brian Ferguson and John Bailer in managing the fund. 12/15
DTMAX Dreyfus Total Emerging Markets Fund No one, but . . . Gaurav Patankar has joined Sean Fitzgibbon and Alexander Kozhemiakin in managing the fund. 12/15
FACEX Frost Growth Equity Fund Brad Thompson will no longer serve as a portfolio manager for the fund. John Lutz, Tom Stringfellow, and AB Mendez continue to manage the fund. 12/15
FADVX Frost Value Equity Fund Brad Thompson will no longer serve as a portfolio manager for the fund. Michael Brell, Tom Stringfellow, Craig Leighton, and Tom Bergeron will continue to manage the fund. 12/15
EDIAX Global Income Builder Fund, formerly the Eaton Vance Global Dividend Income Fund No one, but . . . Jeffrey Mueller has joined John Croft, Michael Allison, and Christopher Dyer in managing the fund. 12/15
HCVAX Hartford Conservative Allocation Fund Wellington Management Company is no longer a sub-advisor. Wendy Cromwell and Richard Meagher are no longer listed as portfolio managers for the fund. Vernon Meyer and Allison Mortensen are now managing the fund. 12/15
HBAAX Hartford Moderate Allocation Fund Wellington Management Company is no longer a sub-advisor. Wendy Cromwell and Richard Meagher are no longer listed as portfolio managers for the fund. Vernon Meyer and Allison Mortensen are now managing the fund. 12/15
JDBAX Janus Balanced Fund No one, but . . . Marc Pinto and Gibson Smith have been joined by Jeremiah Buckley, Mayur Saiga, and Darrell Watters on the management team. 12/15
OSGIX JPMorgan Mid Cap Growth Fund No one, but . . . Felise Agranoff is joins Timothy Parton in managing the fund. 12/15
MNILX Litman Gregory Masters International Fund Effective immediately, William Fries of Thornburg Investment Management, a former M* manager of the year, has been removed as he transitions out of active portfolio management. David Herro, Jeremy DeGroot, Howard Appleby, Jean-Francois Ducrest, James LaTorre, Vinson Walden, Mark Little and Rajat Jain remain to manage the fund. 12/15
MSAKX MainStay Absolute Return Multi-Strategy Fund Daniel Spears will no longer serve as a portfolio manager for the fund. The rest of the extensive team remains. 12/15
CSHAX MainStay Cushing MLP Premier Fund Daniel Spears will no longer serve as a portfolio manager for the fund. Kevin Gallagher and Jerry Swank remain on the fund. 12/15
CURAX MainStay Cushing Royalty Energy Income Fund Daniel Spears will no longer serve as a portfolio manager for the fund. Judd Cryer and Jerry Swank remain on the fund. 12/15
GGEIX Nationwide Global Equity Fund The UBS Global Asset Management team has been removed from the fund. Charles Burbeck and Nicholas Irish are no longer listed as portfolio managers for the fund. The UBS Asset Management team now subadvises the fund, with Bruno Bertocci and Joseph Elegante managing the fund. This is accompanied by a change in principal investment strategies. 12/15
NBHAX Neuberger Berman Equity Income Fund Anthony Gleason will retire effective February 1, 2016. Richard Levine, Alexandra Pomeroy, and William Hunter will remain on the management team. 12/15
NBMIX Neuberger Berman Small Cap Growth Fund David Burshtan is no longer listed as a portfolio manager for the fund. The fund is now managed by Chad Bruso, Marco Minonne, Trevor Moreno, and Kenneth Turek. 12/15
OASGX Optimum Small-Mid Cap Growth Fund Robert Chalupnik is no longer listed as a portfolio manager for the fund. Matthew Litfin joins William Doyle in managing the fund. 12/15
OASVX Optimum Small-Mid Cap Value Fund Tocqueville Asset Management and the Killen Group, Inc. will no longer be sub-advisors to the fund. LSV Asset Management has been approved as a subadvisor to the fund with Josef Lakonishok, Menno Vermeulen, Puneet Mansharamani, Greg Sleight and Guy Lakonishok responsible for day-to-day management of the fund. 12/15
Various PIMCO RealPath Income Fund, PIMCO RealPath 2020 Fund, PIMCO RealPath 2025 Fund, PIMCO RealPath 2030 Fund, PIMCO RealPath 2035 Fund, PIMCO RealPath 2040 Fund, PIMCO RealPath 2045 Fund, PIMCO RealPath 2050 Fund and PIMCO RealPath 2055 Fund Vineer Bhansal is no longer listed as a portfolio manager for the funds. Mihir Worah and Graham Rennison join Rahul Devgon in managing the funds. 12/15
PQTAX PIMCO TRENDS Managed Futures Strategy Fund Vineer Bhansal is no longer listed as a portfolio manager for the fund. Josh Davis joins Matthew Dorsten and Graham Rennison in managing the fund. 12/15
SRFMX Sarofim Equity Fund Jeffrey Jocobe will no longer serve as a portfolio manager for the fund. Fayez Sarofim, W. Gentry Lee, Reynaldo Reza, and Alan Christensen remain with the fund. 12/15
SLSSX Selected International Fund As of January 1, 2016, Tania Pouschine will be removed as a portfolio manager of the fund. Christopher Davis and Danton Goei will continue to manage the fund. 12/15
SOAEX Spirit of America Energy Fund Raymond Mathis is no longer listed as a portfolio manager for the fund. William Mason will manage the fund. 12/15
SOAAX Spirit of America Real Estate Income & Growth Fund Raymond Mathis and Alpana Sen are no longer listed as portfolio managers for the fund. William Mason and Douglas Revello will manage the fund. 12/15
FSCFX Strategic Advisers Small-Mid Cap Fund No one, but . . . Arrowpoint Asset Management and AllianceBernstein are new subadvisors to the fund. 12/15
FNAPX Strategic Advisers Small-Mid Cap Multi-Manager Fund No one, but . . . Arrowpoint Asset Management and AllianceBernstein are new subadvisors to the fund. 12/15
TCWAX Templeton China World Fund Allan Lam, Dennis Lim, and Tom Wu are no longer listed as portfolio managers for the fund. Eddie Chow and Mark Mobius remain as managers for the fund. 12/15
TGVAX Thornburg International Value No one, at the moment, but William Fries intends to transition away from the fund into a new role as Senior Advisor to the Thornburg investment team. Di Zhou joins William Fries and Lei Wang in anticipation of Mssr. Fries diminishing role with the fund. 12/15
TSAAX Touchstone Controlled Growth with Income Fund Lucian Marinescu is no longer listed as a portfolio manager for the fund. Anthony Wicklund and Nathan Palmer, who started in 11/2015, are managing the fund. 12/15
TBAAX Touchstone Dynamic Diversified Income Fund Lucian Marinescu is no longer listed as a portfolio manager for the fund. Anthony Wicklund and Nathan Palmer are managing the fund. 12/15
TVRAX Transparent Value Directional Allocation Fund Armen Arus, president and co-founder of Transparent Value, resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVEAX Transparent Value Dividend Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVAAX Transparent Value Large-Cap Aggressive Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVBAX Transparent Value Large-Cap Core Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVDAX Transparent Value Large-Cap Defensive Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVGAX Transparent Value Large-Cap Growth Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVMAX Transparent Value Large-Cap Market Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVVAX Transparent Value Large-Cap Value Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVSAX Transparent Value Small-Cap Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
TVKAX Transparent Value SMID-Cap Directional Allocation Fund Armen Arus resigned from the fund and the sub-adviser. Scott Hammond and Gennadiy Khayutin continue to manage the fund. 12/15
SBALX Victory Strategic Allocation Fund Heidi Adleman is no longer listed as a portfolio manager for the fund. Kelly Cliff will manage the fund. 12/15
WATWX Wanger Select Fund Robert Chalupnik is deceased. David Frank joins Matthew Szafranski in managing the fund. 12/15
WGLIX William Blair Global Small Cap Growth Fund Matthew Litfin is no longer listed as a portfolio manager for the fund. Andrew Flynn remains as the sole manager of the fund. 12/15
WCGIX William Blair Mid Cap Growth Fund No one, but . . . Daniel Crowe joins David Ricci and Robert Lanphier in managing the fund. 12/15
WSMDX William Blair Small-Mid Cap Growth Fund No one, but . . . Daniel Crowe joins Karl Brewer and Robert Lanphier in managing the fund. 12/15

Manager changes, November 2015

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
IICAX AMF Large Cap Equity Fund Mark Trautman and John McCabe are retiring as the portfolio managers effective December 31, 2015. They will be replaced by Robert Jones and Ana Galliano on January 1, 2016 11/15
BACAX BlackRock All-Cap Energy & Resources Portfolio No one, but . . . Alastair Bishop has joined Robin Batchelor and Poppy Allonby in managing the fund. 11/15
SSGRX BlackRock Energy & Resources Portfolio No one, but . . . Joshua Freedman has joined Robin Batchelor and Poppy Allonby in managing the fund. 11/15
BMMAX BlackRock Multi-Manager Alternative Strategies Fund Achievement Asset Management will no longer be a subadviser to the fund. Pine River Capital Management and Marathon Asset Management have been added as subadvisers. 11/15
CAAAX Calvert Aggressive Allocation Fund Natalie Trunow will no longer serve as a portfolio manager for the fund. Joshua Linder is joined by John Nichols and Vishal Khanduja 11/15
CSIFX Calvert Balanced Portfolio Natalie Trunow will no longer serve as a portfolio manager for the fund. Matthew Duch, Vishal Khanduja, and Joshua Linder are joined by Jade Huang, Christopher Madden, Kurt Moeller, Mauricio Agudelo, and Brian Ellis. 11/15
CCLAX Calvert Conservative Allocation Fund Natalie Trunow will no longer serve as a portfolio manager for the fund. Joshua Linder is joined by John Nichols and Vishal Khanduja 11/15
CEIAX Calvert Global Equity Income Fund Natalie Trunow will no longer serve as a portfolio manager for the fund. Rachel Volynsky and Yvonne Bishop will continue to serve as portfolio managers for the fund. 11/15
CLVAX Calvert Global Value Fund Natalie Trunow will no longer serve as a portfolio manager for the fund. Rachel Volynsky and Yvonne Bishop will continue to serve as portfolio managers for the fund. 11/15
CWVGX Calvert International Equity Fund Natalie Trunow will no longer serve as a portfolio manager for the fund. Joshua Linder, Christopher Madden, Kurt Moeller, and Jade Huang have taking over management of the fund. 11/15
CMIFX Calvert Large Cap Core Portfolio Natalie Trunow will no longer serve as a portfolio manager for the fund. Joshua Linder, Christopher Madden, Kurt Moeller, and Jade Huang have taking over management of the fund. 11/15
CMAAX Calvert Moderate Allocation Fund Natalie Trunow will no longer serve as a portfolio manager for the fund. Joshua Linder is joined by John Nichols and Vishal Khanduja 11/15
CCVAX Calvert Small Cap Fund Natalie Trunow will no longer serve as a portfolio manager for the fund. Joshua Linder, Christopher Madden, Kurt Moeller, and Jade Huang have taking over management of the fund. 11/15
SBVAX Clearbridge Small Cap Value Fund Peter Hable, Mark Bourguignon, Mark Feasey, and Michael Kang are no longer listed as portfolio managers to the fund. Tim Daubenspeck and Juan Miguel del Gallego are now listed as portfolio managers. 11/15
DRSAX Dreman Contrarian Small Cap Value Fund E. Clifton Hoover is no longer listed as a portfolio manager on the fund. Mr. Hoover is now Dreman’s CIO. Over his career, he’s managed or helped manage 20 funds. After stepping aside here, he no longer manages any. Mark Roach, David Brenan, Mario Tufano, and Nelson Woodard will continue to manage the fund. 11/15
FBALX Fidelity Balanced Fund Peter Saperstone is no longer listed as a portfolio manager on the fund. Peter Dixon joins the rest of the team in managing the fund 11/15
FSAEX Fidelity Series All-Sector Equity Fund Peter Saperstone is no longer listed as a portfolio manager on the fund. Peter Dixon joins the rest of the team in managing the fund 11/15
GDAFX Goldman Sachs Dynamic Allocation Fund Osman Ali will no longer serve as a portfolio manager for the fund. William Fallon and James Park will continue on. 11/15
HYFIX Harbor High-Yield Bond Fund Mark Flanagan will be retiring at the end of the year. Mark Shenkman, Eric Dobbin, Justin Slatky, Steven Schweitzer and Robert Kricheff will continue to serve as co-portfolio managers for the fund. 11/15
HJPSX Hennessy Japan Small Cap Fund Hidehiro Moriya is no longer listed as a portfolio manager on the fund. Tetsuya Hirano joins Tadahiro Fujimura in managing the fund. It is, by the way, a pretty spectacular little vehicle. 11/15
HCGAX HSBC Emerging Markets Debt Fund Guillermo Ossés will no longer serve as a portfolio manager Lisa Chua, Vinayak Potti, and Nishant Updhyay will continue to manage the fund. 11/15
HBMAX HSBC Emerging Markets Local Debt Fund Guillermo Ossés will no longer serve as a portfolio manager Lisa Chua, Vinayak Potti, and Nishant Updhyay will continue to manage the fund. 11/15
HTRAX HSBC Total Return Fund Guillermo Ossés will no longer serve as a portfolio manager Lisa Chua, Vinayak Potti, and Nishant Updhyay will continue to manage the fund. 11/15
URTAX JPMorgan Realty Income Fund Kay Herr is no longer listed as a portfolio manager on the fund. Jason Ko remains as manager of the fund. 11/15
LGBAX Leader Global Bond Fund Scott Carmack is no longer listed as a portfolio manager on the fund. John Lekas continues to manage the fund. 11/15
LCAMX Leader Short-Term Bond Fund Scott Carmack is no longer listed as a portfolio manager on the fund. John Lekas continues to manage the fund. 11/15
LCATX Leader Total Return Fund Scott Carmack is no longer listed as a portfolio manager on the fund. John Lekas continues to manage the fund. 11/15
ALFAX Lord Abbett Alpha Strategy Fund No one, but . . . Giulio Martini joins Robert Gerver in managing the fund. 11/15
LDSAX Lord Abbett Diversified Equity Strategy Fund No one, but . . . Giulio Martini joins Robert Gerver in managing the fund. 11/15
LABFX Lord Abbett Multi-Asset Balanced Opportunity Fund No one, but . . . Giulio Martini joins Robert Gerver in managing the fund. 11/15
LAGEX Lord Abbett Multi-Asset Global Opportunity Fund No one, but . . . Giulio Martini joins Robert Gerver in managing the fund. 11/15
LWSAX Lord Abbett Multi-Asset Growth Fund No one, but . . . Giulio Martini joins Robert Gerver in managing the fund. 11/15
ISFAX Lord Abbett Multi-Asset Income Fund No one, but . . . Giulio Martini joins Robert Gerver in managing the fund. 11/15
MDOSX Manning & Napier Dynamic Opportunities Ajay Sadarangani is no longer listed as a portfolio manager on the fund. Michele Panzeri joins Brian Lester and Habibe Hakiqi in managing the fund 11/15
MNGSX Manning & Napier Global Fixed Income Marc Tommasi is no longer listed as a portfolio manager on the fund. Marc Bushallow and R. Keith Harwood remain on the fund 11/15
EXITX Manning & Napier International Marc Tommasi and Robert Crawford are no longer listed as portfolio managers to the fund. Jeffrey Donlon joins Scott Shatuck and Ben Rozin in managing the fund. 11/15
MEMAX MFS Emerging Markets Equity Portfolio On January 1, 2016, Massachusetts Financial Services Company will no longer subadvise the fund. Makes the “MFS” part of the name a bit antique. Aberdeen Asset Managers will be the new subadviser to the fund. 11/15
MFMPX Morgan Stanley Institutional Frontier Emerging Markets Portfolio No one, but . . . Pierre Horvilleur joins Tim Drinkall in managing the fund. 11/15
MELAX Morgan Stanley Institutional Emerging Markets Leaders Portfolio No one, but . . . Vishal Gupta has joined Ashutosh Sinha in managing the fund. 11/15
NABAX Neuberger Berman Absolute Return Multi-Manager Fund No one, but . . . Portland Hill Capital, LLP, is a new subadviser to the fund. 11/15
SNAEX Schroder North American Equity Fund Stuart Adrian is no longer listed as a portfolio manager on the fund. Ayse Serinturk joins Stephen Langford, Ben Corris, James Larkman, and Justin Abercrombie on the management team. 11/15
SMILX SMI Conservative Allocation Fund No one, however, Scout Investments, Inc. will no longer be a subadvisor to the fixed income portion of the portfolio. The Sound Mind management team remains the same. 11/15
SMIDX SMI Dynamic Allocation Fund No one, however, Scout Investments, Inc. will no longer be a subadvisor to the fixed income portion of the portfolio. The management team remains the same. 11/15
SSSDX SSgA Dynamic Small Cap Fund Marc Reinganum is no longer listed as a portfolio manager on the fund. John O’Connell joins Anna Lester in managing the fund. 11/15
SLSAX Sterling Capital Long/Short Equity Fund No one, but . . . The Board of Trustees has appointed Caerus Investors, LLC as a new subadvisor to the fund beginning in February 2016. 11/15
TWAAX Thrivent Partner Worldwide Allocation Fund No one, but . . . Paul Blankenhagen and Juliet Cohn are joining the management team. 11/15
TVLAX Touchstone Value Fund Timothy Culler is no longer listed as a portfolio manager on the fund. Jeff Fahrenbruch and David Ganucheau joined Lewis Ropp, Mark Giambrone, and James Barrow on the management team. 11/15
PSPFX U.S. Global Investors Global Resources Fund Brian Hicks will no longer serve as a portfolio manager for the fund. Ralph Aldis joins Frank Holmes in managing the fund. 11/15
MEGAX U.S. Global Investors Holmes Macro Trends Fund Brian Hicks will no longer serve as a portfolio manager for the fund. Ralph Aldis joins Frank Holmes in managing the fund. 11/15
VGENX Vanguard Energy Fund Karl Bandtel will retire from Wellington Management Company, a subadvisor, in June 2016. In preparation for Mssr. Bandtel’s retirement, Gregory LeBlanc has joined the team as a comanager for the portion of the fund managed by Weillington Management. The rest of the team remains. 11/15
VWESX Vanguard Long-Term Investment-Grade Fund Lucius Hill will retire from Wellington Management Company, a subadvisor, in June 2016. The rest of the team will remain. 11/15
VPDSX Vantagepoint Discovery Fund No one, but . . . Daniel Fitzpatrick joined the team of James Wong, Jamie Rome, and Brian Matthews in managing the fund. 11/15
VPEIX Vantagepoint Equity Income Fund Brian Rogers is no longer listed as a portfolio manager on the fund. John Linehan joins Dwayn Hancock, Karen Grimes, Michael Feehily, O. Mason Hawkins, and G. Staley Cates in managing the fund 11/15
VSAIX Virtus Alternative Inflation Solution Fund John Brynjolfsson will no longer serve as a portfolio manager for the fund and Armoured Wolf, LLC is no longer a subadvisor to the fund. Fischer, Francis, Trees & Watts, Inc. has been added as a subadvisor to the fund with Adnan Akant and Cedric Sholtes managing that portion of the portfolio. The rest of the team remains unchanged. 11/15
VATAX Virtus Alternative Total Solution Fund John Brynjolfsson will no longer serve as a portfolio manager for the fund and Armoured Wolf, LLC is no longer a subadvisor to the fund. Fischer, Francis, Trees & Watts, Inc. has been added as a subadvisor to the fund with Adnan Akant and Cedric Sholtes managing that portion of the portfolio. The rest of the team remains unchanged. 11/15
WBLFX Whitebox Market Neutral Equity Fund Jason Cross will be retiring, effective December 15, 2015. Paul Karos and Andrew Redleaf will continue to manage the fund. 11/15
WBINX Whitebox Tactical Advantage Fund Jason Cross will be retiring, effective December 15, 2015. Paul Karos will join the management team of Paul Twitchell, Robert Vogel, and Andrew Redleaf, immediately. 11/15
WBMAX Whitebox Tactical Opportunities Fund Jason Cross will be retiring, effective December 15, 2015. Paul Karos will join the management team of Paul Twitchell, Robert Vogel, and Andrew Redleaf, immediately. 11/15

 

Manager changes, October 2015

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
AMTAX AB All Market Real Return Portfolio Jonathan Ruff will no longer serve as a portfolio manager for the fund. Vinod Chathlani joins Daniel Loewy and Vadim Zlotnikov as a manager to the fund. 10/15
ADVGX Advisory Research All Cap Value Fund No one, but . . . Chris Harvey joins James Langer, Matthew Swaim, and Bruce Zessar in managing the fund. 10/15
ADVSX Advisory Research Small Company Opportunities Paul Galat and Shreekkanth Viswanathan will no longer serve as a portfolio manager for the fund. James Langer and Matthew Swaim are joined by Chris Harvey and Bruce Zessar. 10/15
EMEAX Ashmore Emerging Markets Equity Fund Cindy Chi is no longer listed as a portfolio manager on the fund. Felicia Morrow and Alejandro Garza continue to manage the fund 10/15
EFEAX Ashmore Emerging Markets Frontier Equity Fund Peter Trofimenko will no longer serve as a portfolio manager for the fund. Bryan D’Aguiar, Alejandro Garza, and Felicia Morrow will continue to manage the fund 10/15
ESSAX Ashmore Emerging Markets Small-Cap Equity Fund Cindy Chi is no longer listed as a portfolio manager on the fund. Felicia Morrow and Alejandro Garza continue to manage the fund 10/15
BMPEX Beck, Mack & Oliver Partners Fund Zachary Wydra is no longer listed as a portfolio manager on the fund. Robert Beck has taken over as portfolio manager of the fund. 10/15
BPLEX Boston Partners Long/Short Equity Fund Ali Motamed will no longer serve as a portfolio manager for the fund. Robert Jones will continue to manage the fund 10/15
CWGDX Christopher Weil & Company Global Dividend Fund Soledad Investment Management will resign as a subadvisor to the fund effective December 19, 2015 It’s unclear who will be managing the fund after December 19th. 10/15
LGGAX Clearbridge Global Growth, which will become ClearBridge International Growth Fund at the end of the year. Gibboney Huske is no longer listed as a portfolio manager on the fund. Michael Testorf joins Elisa Mazen in managing the fund. 10/15
LACAX Columbia Acorn Fund As announced in May, Robert Mohn, has stepped down from his lead portfolio manager role. David Frank will be joined by P. Zachary Egan 10/15
LAUAX Columbia Acorn USA As announced in May, Robert Mohn, has stepped down from his lead portfolio manager role. William Doyle will remain on the fund 10/15
CSCEX Columbia Active Portfolios Multi-Manager Small Cap Equity Fund No one, but . . . BMO Asset Management Corp has been added to the list of subadvisors. As a result of this, David Corris and Thomas Lettenberger join the extensive team managing this fund. 10/15
NMGIX Columbia Marsico Growth Fund Kevin Boone is no longer listed as a portfolio manager on the fund. Thomas Marsico and Coralie Witter remain as managers for the fund. 10/15
TISHX Deutsche Communications Fund Walter Holick and Frederic Fayolle are no longer listed as portfolio managers of the fund Brendan O’Neill will take over management of the fund. 10/15
KTRAX Deutsche Global Income Builder Fund Thomas Schuessler and Philip Condon are no longer listed as portfolio managers on the fund. Darwei Kung joins William Chepolis, Gary Russell, John Ryan, Walter Holman, and Fabian Degen in managing the fund. 10/15
SERAX Deutsche World Dividend Fund Oliver Pfeil and Thomas Schuessler are no longer listed as portfolio managers on the fund. Fabian Degen is joined by Walter Holman and Sebastian Werner in managing the fund. 10/15
MDDDX FDP BlackRock Janus Growth Fund, formerly the Marsico Growth FDP Fund Kevin Boone, Coralie Witter, and Thomas Marsico are out, as Marsico Capital Management has been replaced by Janus Capital Management as a subadvisor to the fund. Carmel Wellso will manage the fund. 10/15
FSDAX Fidelity Select Portfolios Defense and Aerospace Portfolio Douglas Scott will no longer serve as a portfolio manager for the fund. Jonathan Siegmann takes over management of the fund. 10/15
FBSOX Fidelity Select Portfolios Information Technology Sector No one, but . . . Daniel Sherwood joins Kyle Weaver in managing the fund. 10/15
FMSLX FMC Select Fund Andrew Freedberg will cease serving as a co-portfolio manager of the fund. Michael Kelter will become a co-portfolio manager of the fund, joining Timothy Muccia. 10/15
FLSLX Forward Credit Analysis Long/Short Fund No one, but . . . David Hammer returns and joins Joseph Deane on the management team. 10/15
AHBIX Forward High Yield Bond Fund Steven Michaels is no longer listed as a portfolio manager on the fund. Henry Chu and Ashish Shah are the portfolio managers of the fund. 10/15
GSRAX Goldman Sachs Dividend Focus Rising Dividend Growth Fund Jere Estes will no longer serve as a portfolio manager for the fund. C. Troy Shaver, Ying Wang, and Michael Nix will continue to manage the fund. 10/15
GMLVX GuideMark Emerging Markets Michael Nayfa, Terry Pelzel, and Mark Giambrone are no longer listed as portfolio managers to the fund. Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. 10/15
GMLGX GuideMark Large Cap Core Service Paul Marrkand is no longer listed as a portfolio manager on the fund. Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. 10/15
GMSMX GuideMark Small/Mid Cap Core Service Cheryl Duckworth and Mark Mandel are no longer listed as portfolio managers to the fund. Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. 10/15
GMWEX GuideMark World ex-US Service César Hernandez is no longer listed as a portfolio manager on the fund. Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. 10/15
HISIX Homestead International Value Fund Cindy New, Robin Kollannur, and Charles Radtke are no longer listed as portfolio managers to the fund. Dwayne Hancock and Teddy Wong will manage the fund. 10/15
HBAFX Huntington Balanced Allocation Fund Kirk Mentzer and Peter Sorrentino are no longer listed as portfolio managers to the fund. David Miller and Michael Schoonover will manage the fund. 10/15
HDCAX Huntington Dividend Capture Fund Kirk Mentzer and Peter Sorrentino are no longer listed as portfolio managers to the fund. David Miller and Michael Schoonover will manage the fund. 10/15
HGSAX Huntington Global Select Markets Fund Paul Attwood and Peter Sorrentino are no longer listed as portfolio managers to the fund. Mike Newton, Edward Baker, Samuel Kwong, Mathias Wikberg, and Walid Khalfallah will manage the fund. 10/15
HRSAX Huntington Real Strategies Fund Paul Attwood and Peter Sorrentino are no longer listed as portfolio managers to the fund. David Miller and Michael Schoonover will manage the fund. 10/15
HSUAX Huntington Situs Fund Kirk Mentzer and Peter Sorrentino are no longer listed as portfolio managers to the fund. David Miller and Michael Schoonover will manage the fund. 10/15
ICLEX ICON Consumer Staples Fund Mick Kuehn will no longer serve as a portfolio manager for the fund. Craig Callahan and Donovan Paul will manage the fund. 10/15
ICARX ICON Emerging Markets Fund Mick Kuehn will no longer serve as a portfolio manager for the fund. Craig Callahan, Zach Jonson, Donovan Paul and Derek Rollingson will manage the fund. 10/15
ICTRX ICON Industrials Fund Mick Kuehn will no longer serve as a portfolio manager for the fund. Craig Callahan and Donovan Paul will manage the fund. 10/15
ICTEX ICON Information Technology Mick Kuehn will no longer serve as a portfolio manager for the fund. Craig Callahan and Donovan Paul will manage the fund. 10/15
COUAX Innealta Capital Country Rotation Fund No one, but . . . Vito Sciaraffia and Mark Mowrey have joined Gerald Buetow in managing the fund. 10/15
SROAX Innealta Capital Sector Rotation Fund No one, but . . . Vito Sciaraffia and Mark Mowrey have joined Gerald Buetow in managing the fund. 10/15
YLDAX Innealta Capital Tactical Fixed Income Fund No one, but . . . Vito Sciaraffia and Mark Mowrey have joined Gerald Buetow in managing the fund. 10/15
JAAAX John Hancock Alternative Asset Allocation Fund Steve Medina will no longer serve as a portfolio manager for the fund, effective January 1, 2016 Robert Boyda, Marcelle Daher, and Nathan Thooft, CFA will continue as portfolio managers of the fund 10/15
Various John Hancock Lifestyle Portfolios, Lifestyle II Portfolios, Retirement Living Portfolios, Retirement Living II Portfolios, and Retirement Choices Portfolios Steve Medina will no longer serve as a portfolio manager for the fund, effective January 1, 2017 Robert Boyda, Marcelle Daher, and Nathan Thooft, CFA will continue as portfolio managers of the fund 10/15
GESOX Lazard Global Equity Select Portfolio No one, but . . . Martin Flood, Louis Florentin-Lee, Andrew Lacey, Patrick Ryan, and Ronald Temple are joined by Barnaby Wilson. 10/15
LDVAX Leland Thomson Reuters Venture Capital Index Fund Justin Lowry and Sean Reichert are no longer listed as portfolio managers to the fund. David Armstrong, Yash Patel, and Neil Peplinski have taken over management of the fund. 10/15
MHNAX Madison High Income Fund As of January 1, 2015, the fund will be managed by Madison Asset Management. As a result Eric Dobbin Mark Shenkman, Mark Flanagan, Steven Schweitzer, Justin Slatky, and Robert Kricheff will no longer serve as  portfolio managers for the fund. The fund will be managed by Michael Sanders and Allen Olson. 10/15
MGRIX  Marsico Growth Fund Kevin Boone is no longer listed as a portfolio manager on the fund. Thomas Marsico and Coralie Witter remain as managers for the fund. 10/15
NGUAX  Neuberger Berman Guardian Fund Mamundi Subhas, Ingrid Dyott, Sajjad Ladiwala, and Arthur Moretti are no longer listed as portfolio managers to the fund. Charles Kantor will now manage the fund. 10/15
PXHAX Pax World High Yield Bond Fund Mary Austin is no longer listed as a portfolio manager on the fund. Peter Schwab will join Kent Siefers in managing the fund. 10/15
LSEAX Persimmon Long/Short Fund Contravisory Investment Management is no longer a subadvisor to the fund. David Canal, Philip Noonan, and William Noonan will no longer serve as portfolio managers for the fund. The rest of the team remains 10/15
PQDAX PIMCO Global Dividend Fund Austin Graff is no longer listed as a portfolio manager on the fund. Brad Kinkelaar now manages the fund. 10/15
RHFHX Royce Heritage Fund James Harvey is no longer listed as a portfolio manager on the fund. Steven McBoyle serves as the fund’s lead portfolio manager and Charles Royce manages the Fund with him. 10/15
RSQVX RSQ International Equity Fund Michael Testorf will no longer serve as a portfolio manager for the fund. Richard Pell and Rudolf-Riad Younes carry on. 10/15
UMBHX Scout Small Cap Fund Thomas Laming no longer serves as a portfolio manager of the fund. James McBride has assumed lead portfolio manager responsibilities for the fund, with Timothy Miller serving as co-portfolio manager. 10/15
FMELX Strategic Advisers Growth Multi-Manager Fund No one, but . . . James Fallon, Jonathan Sage, and John Stocks have joined the already extensive team. 10/15
SUNAX SunAmerica Commodity Strategy Fund Stephen Burke, John Pickart, and Wayne Ryan are no longer listed as portfolio managers to the fund. David Chang and Gregory LeBlanc will manage the fund. 10/15
ABDCX The BDC Income Fund Andrew Kerai is no longer listed as a portfolio manager on the fund. Gregg Felton and John Stuart will continue managing the fund. 10/15
TVFVX Third Avenue Value Fund Michael Lehmann is no longer listed as a portfolio manager on the fund. Robert Rewey, Victor Cunningham, and Yang Lie continue to manage the fund. 10/15
DIVSX Transamerica Partners Institutional Small Value Fund Shaun Pedersen, Timothy McCormack, and Michael Vogelzang are no longer listed as portfolio managers to the fund. James Gaul, David Hanna and Douglas Riley will manage the fund. 10/15
TSLAX Transamerica Partners Small Cap Value Fund James Veers and Michael Vogelzang are no longer listed as portfolio managers to the fund. James Gaul, David Hanna and Douglas Riley will manage the fund. 10/15
DVSVX Transamerica Partners Small Value Fund Shaun Pedersen, Timothy McCormack, and Michael Vogelzang are no longer listed as portfolio managers to the fund. James Gaul, David Hanna and Douglas Riley will manage the fund. 10/15
TSWEX TS&W Equity Institutional Fund Paul Ferwerda will no longer serve as a portfolio manager for the fund. S. Preston Dillard, G. Gary Garland, and Brett Hawkins are the new managers of the fund. 10/15
WUSAX Wanger USA As announced in May, Robert Mohn, has stepped down from his lead portfolio manager role. William Doyle will remain on the fund 10/15

Manager changes, September 2015

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
GASAX Aberdeen Diversified Alternatives Fund Allison Mortensen is no longer listed as a portfolio manager on the fund. Michael Turner joins Richard Fonash in managing the fund. 9/15
GMAAX Aberdeen Diversified Income Fund Allison Mortensen is no longer listed as a portfolio manager on the fund. Michael Turner joins Richard Fonash in managing the fund. 9/15
GMMAX Aberdeen Dynamic Allocation Fund Allison Mortensen is no longer listed as a portfolio manager on the fund. Michael Turner joins Richard Fonash in managing the fund. 9/15
AMGAX Alger Mid Cap Growth Fund Brain Schulz is no longer listed as a portfolio manager on the fund. Ankur Crawford, Teresa McRoberts, Christopher Walsh, Alex Goldman, and Michael Melnyk continue on. 9/15
FXDAX Altegris Fixed Income Long Short Fund James Nimberg has been removed as a portfolio manager of the fund. Additionally, Joe Lu is no longer listed as a portfolio manager on the fund. Amin Majidi joins Kevin Schweitzer, Anilesh Ahuja, Eric Bundonis, Robert Murphy, Peter Reed, and David Steinbert in managing the fund. 9/15
ABIRX American Beacon International Equity Fund Kevin Durkin will no longer serve as a portfolio manager for the fund. The rest of the extensive team remains. 9/15
ABSAX  American Beacon Small Cap Value Fund E. Clifton Hoover is no longer a manager of the fund The rest of the extensive team remains. 9/15
ARSSX Aristotle Strategic Credit Fund Michael Hatley is no longer listed as a portfolio manager on the fund. Douglas Lopez and Terence Reidt will continue to run the fun 9/15
AARIX ASTON/Harrison Street Real Estate Fund Reagan Pratt is no longer listed as a portfolio manager on the fund. James Kammert will continue on as the sole portfolio manager. 9/15
AHFAX Aurora Horizons Fund Kovitz Investment Group is out as a subadvisor to the fund The portion of the fund formerly managed by Kovitz has been allocated to the adviser and other subadvisers. 9/15
BBTBX Bridge Builder Bond Douglas Swanson will be taking a leave of absence. Barbara Miller will assume day-to-day management of the portion of the portfolio allocated to Douglas Swanson. The rest of the team remains. 9/15
Various Calamos, various funds Effective immediately, Gary Black will no longer be a member of the investment team managing any of the series of the Calamos Investment Trust. The remainder of the teams will continue on. 9/15
HIIFX Catalyst/SMH High Income Fund Morgan Neff will no longer serve as a portfolio manager for the fund. Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers 9/15
TRIFX Catalyst/SMH Total Return Income Fund Morgan Neff will no longer serve as a portfolio manager for the fund. Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers 9/15
CMUAX Columbia Mid Cap Value Fund No one, but . . . Nicolas Janvier joins Jonas Patrikson, Diane Sobin, and David Hoffman on the management team. 9/15
CMOTX Context Macro Opportunities Fund Douglas Dachille is no longer listed as a portfolio manager on the fund. Mark Alexandridis, David Ho, Mattan Horowitz and Prasad Kadiyala continue to manage the fund. 9/15
DAREX Dunham Real Estate Stock Fund Scott Westphal will no longer serve as a portfolio manager for the fund. David Wharmby is now the sole portfolio manager. 9/15
FSCRX Fidelity Small Cap Discovery Fund Charles Myers will be taking a leave of absence until the third quarter of 2016. Derek Janssen has been named interim portfolio manager. 9/15
FAKSX Frost Mid Cap Equity Fund Luther King Capital Management is no longer a subadvisor to the fund. Paul Greenwell, J. Luther King, and Steven Purvis are no longer portfolio managers for the fund. The advisor takes over management of the fund, with the team of Tom Stringfellow, AB Mendez, and Bob Bambace. 9/15
HLDAX Hartford Emerging Markets Local Debt Fund Tieu-Bich Nguyen will no longer serve as a portfolio manager. James Valone, Evan Oullette and Michael Henry will remain as portfolio managers for the fund. 9/15
HSFAX HSBC Frontier Markets Fund Andrew Brudenell will no longer serve as a co-portfolio manager to the fund Chris Turner will continue to serve as portfolio manager to the fund 9/15
PGBOX JPMorgan Core Bond Fund Douglas Swanson will be taking a leave of absence. Barbara Miller will assume day-to-day management of the portion of the portfolio allocated to Douglas Swanson. The rest of the team remains. 9/15
KPLCX KP Large Cap Equity Fund No one, but . . . AQR Capital Management and Panagora Asset Management have been added as additional subadvisers. 9/15
LEOOX Lazard Enhanced Opportunities Portfolio Christopher Sferruzzo is no longer listed as a portfolio manager on the fund. Sean Reynolds and Frank Bianco will continue to run the fund. 9/15
LEQAX LoCorr Long/Short Equity Fund No one, but . . . Kettle Hill Capital Management has been added as an additional subadviser. Andrew Kurita, of Kettle Hill, has joined the management team. 9/15
MYHAX MainStay High Yield Opportunities Fund From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. 9/15
MTRAX MainStay Income Builder Fund From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. 9/15
MASAX MainStay Unconstrained Bond Fund From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. 9/15
NMIEX Northern Multi-Manager International Equity Fund Northern Cross will no longer be a subadvisor to the fund. The remainder of the extensive team carries on. 9/15
NMMCX Northern Multi-Manager Mid Cap Fund Systematic Financial Management will no longer be a subadvisor to the fund. Vaughan Nelson Investment will join as a new subadvisor. 9/15
PXEAX Pax World Global Environmental Markets Fund Simon Gottelier is no longer listed as a portfolio manager on the fund. Bruce Jenkyn-Jones and Hubert Aarts will carry on. 9/15
FMARX Rx Tactical Rotation Fund (formerly the Rx MAR Tactical Conservative Fund) The Board of Trustees approved a change in subadviser, removing BFP Capital Management, and bringing in Newfound Research. As a result, David Haviland will no longer serve as a portfolio manager for the fund. The change has been approved, in writing, by the fund’s sole shareholder. Corey Hoffstein and Justin Sibears will continue to manage the fund. 9/15
SMHRX SMH Representation Trust Morgan Neff will no longer serve as a portfolio manager for the fund. Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers 9/15
FNAPX Strategic Advisers Small-Mid Cap Fund No one, but . . . AllianceBernstein L.P. has been added as an eleventh subadvisor to the fund. 9/15
FVSAX Strategic Advisers Value Fund Kristina Stookey is no longer listed as a portfolio manager on the fund. Gopalakrishnan Anantanatarajan  has joined the other dozen managers on the team. 9/15
TSWEX TS&W Equity Portfolio Elizabeth Cabell Jennings and Paul Ferwerda are no longer serving as portfolio managers to the fund. Brett Hawkins, S. Preston Dillard and G. Gary Garland are now managing the fund. 9/15
VFSVX  Vanguard FTSE All-World ex-US Small-Cap Index Fund Michael D. Eyre will no longer serve as a portfolio manager for the fund. Jeffrey Miller takes over management of the fund. 9/15
VMGAX Vanguard Mega Cap Growth Index Fund Michael D. Eyre will no longer serve as a portfolio manager for the fund. Gerard O’Reilly takes over management of the fund. 9/15
VMVLX Vanguard Mega Cap Value Index Fund Michael D. Eyre will no longer serve as a portfolio manager for the fund. Gerard O’Reilly takes over management of the fund. 9/15
VRTGX Vanguard Russell 2000 Growth Index Fund Michael D. Eyre will no longer serve as a portfolio manager for the fund. Walter Nejman takes over management of the fund. 9/15
VRTIX Vanguard Russell 2000 Index Fund Michael D. Eyre will no longer serve as a portfolio manager for the fund. Walter Nejman takes over management of the fund. 9/15
VRTVX Vanguard Russell 2000 Value Index Fund Michael D. Eyre will no longer serve as a portfolio manager for the fund. Walter Nejman takes over management of the fund. 9/15
IEDAX Voya Large Cap Value Fund Robert Kloss is no longer listed as a portfolio manager on the fund. Christopher Corapi, Vincent Costa, and Kristy Finnegan remain on the team. 9/15
AIMAX Voya Mid Cap Value Advantage Fund Robert Kloss is no longer listed as a portfolio manager on the fund. Christopher Corapi, Vincent Costa, and Kristy Finnegan remain on the team. 9/15
WAAEX Wasatch Small Cap Growth Fund No one, but . . . Effective February 1, 2016, JB Taylor will be the lead manager of the fund and Jeff Cardon will be a portfolio manager of the fund. 9/15
WVLEX Worthington Value Line (formerly Worthington Value Line Equity Advantage Fund) No one, but . . . Liane Rosenberg joins Cindy Starke in managing the fund. 9/15

 

Manager changes, August 2015

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
AISCX Acuitas International Small Cap Fund Mike Jolin is no longer listed as a portfolio manager to the fund. Preston Brown has joined Dennis Jensen, Christopher Tessin, Jonathan Brodsky, Drew Edwards, Marco Priani, Bram Zeigler, and Regina Chi on the management team. 8/15
AFXAX American Beacon Flexible Bond Fund GAM International Management is no longer listed as a subadvisor to the fund, therefore Timothy Haywood and Daniel Sheard will no longer serve as portfolio managers. Payden & Rygel are new subadvisors to the fund, bringing Brian Matthews, Scott Weiner, and Brad Boyd to the management team. 8/15
AAIFX Anchor Alternative Income Fund Anchor Capital Management Group, Inc. will no longer manage any portion of the assets of the fund; Garrett Waters and Eric Leake will be removed as portfolio managers. Joel Price will be the sole portfolio manager 8/15
BIOPX Baron Opportunity Fund No one, but Michael Lippert will be recovering from a bicycle accident. While Mssr. Lippert recovers, Alex Umansky, Neal Rosenberg, and Ashim Mehra, will temporarily co-manage the fund. 8/15
BAMIX BMO Multi-Asset Income Fund Jeff Weniger is no longer listed as a portfolio manager to the fund. Lowell Yura and Jon Adams join Brent Schutte in managing the fund 8/15
CALSX Calamos Long/Short Fund Daniel Fu is no longer listed as a portfolio manager to the fund. Gary Black, John Calamos, and Matthew Wolfson remain on the fund 8/15
CSMIX Columbia Small Cap Value Fund John Barrett is no longer listed as a portfolio manager to the fund. Jeremy Javidi remains as the sole manager of the fund 8/15
BTAEX Deutsche EAFE Equity Index Fund Joseph LaPorta is no longer listed as a portfolio manager Patrick Dwyer joins Thomas O’Brien in managing the fund 8/15
DTMAX Dreyfus Total Emerging Markets Fund No one, but . . . Sean Fitzgibbon and Alexander Kozhemiakin are joined by Federico Garcia Zamora, Jay Malikowski and Josephine Shea. 8/15
ECCGX Eaton Vance Greater China Growth Fund Lily Jap is no longer listed as a portfolio manager to the fund. Stephen Ma and June Lui remain on the fund 8/15
FAGOX Fidelity Advisor Growth Opportunities Fund Gopal Reddy is no longer listed as a portfolio manager on the fund. Long time manager Steven Wymer returns, joined by Kyle Weaver. 8/15
FAOFX Fidelity Advisor Series Growth Opportunities Gopal Reddy is no longer listed as a portfolio manager on the fund. Kyle Weaver and Steven Wymer have taken over the fund. 8/15
VEEEX Global Strategic Income Fund Matthew Benkendorf is no longer listed as a portfolio manager on the fund. Gary Friedle, Stuart Shikiar, and Albert Sipzener have taken over. 8/15
GMSAX Goldman Sachs Managed Futures Strategy Fund Alex Wang will no longer serve as a portfolio manager for the fund. James Park and William Fallon will continue on 8/15
GCMAX Goldman Sachs Mid Cap Value Portfolio Dolores Bamford announced that she will be retiring from Goldman Sachs, effective September 1st. Sung Cho joins Timothy Ryan and Sean Gallagher in managing the fund 8/15
HERAX Hartford Emerging Markets Equity Fund Cheryl Duckworth is no longer listed as a portfolio manager David Elliot has taken over as portfolio manager 8/15
HRLAX Hartford Global Real Asset Fund Lindsay Politi will no longer serve as a portfolio manager for the fund. Jay Bhutani, Scott Elliott, Brian Garvey, and David Chang will continue managing the fund 8/15
HIPAX Hartford Inflation Plus Fund Lindsay Politi will no longer serve as a portfolio manager for the fund. Joseph Marvan will take over as sole manager to the fund 8/15
HDVAX Hartford International Capital Appreciation Fund Jean-Marc Berteaux, James Shakin, and Tara Connolly Stilwell will no longer serve as a portfolio managers for the fund. Kent Stahl and Gregg Thomas remain. 8/15
HNCAX Hartford International Growth Fund. Jean-Marc Berteaux will no longer serve as a portfolio manager for the fund. Tara Connolly Stilwell has joined John Boselli in managing the fund. 8/15
HAFAX Hartford Multi-Asset Income Fund No one, but . . . David Elliot, Campe Goodman, and Richard Meagher have been joined by Lutz-Peter Wilke 8/15
HTNAX Hartford Municipal Real Return Fund Lindsay Politi will no longer serve as a portfolio manager for the fund. Timothy Haney and Brad Libby will be joined by Joseph Marvan 8/15
HRTVX Heartland Value Fund Bradford Evans has stepped down as a portfolio manager Adam Peck joins William Nasgovitz to manage the fund 8/15
IMIFX Innovator McKinley Income Fund Steven Carhart is no longer listed as a manager to the fund Robert A. Gillam, Robert B. Gillam, Sheldon Lien, Brandon Rinner, and Gregory Samorajski will now run the fund 8/15
JEVAX John Hancock Funds Emerging Markets Fund Henry Gray and Karen Umland are no longer listed as a portfolio managers on the fund. Joseph Chi, Jed Fogdall, and Allen Pu will continue on. 8/15
GIDEX John Hancock International Core Fund Thomas R. Hancock, Ph.D. will no longer serve as a portfolio manager for the fund. David Cowan, Ben Inker, and Sam Wilderman will continue as portfolio managers of the fund. They will be joined by Neil Constable and Chris Fortson. 8/15
JISAX John Hancock International Small Company Fund No one, but . . . Arun Keswani and Bhanu Singh have joined Joseph Chi, Jed Fogdall, Henry Gray, and Karen Umland as portfolio managers of the fund 8/15
JASOX John Hancock New Opportunities Fund Bhanu Singh will no longer serve as a portfolio manager for the fund. Joel Schnieder has joined Joseph Chi, Jed Fogdall and Henry Gray as a portfolio manager of the fund 8/15
JHUAX John Hancock U.S. Equity Fund Thomas Hancock, Ph.D. will no longer serve as a portfolio manager for the fund. David Cowan, Ben Inker, and Sam Wilderman will continue as managers of the fund 8/15
JHUAX John Hancock U.S. Equity Fund Thomas R. Hancock, Ph.D. will no longer serve as a portfolio manager for the fund. David Cowan, Ben Inker, and Sam Wilderman will continue as portfolio managers of the fund. 8/15
IJEAX JPMorgan Emerging Markets Equity Fund Richard Titherington is no longer listed as a portfolio manager on the fund. Austin Forey, Leon Eidelman, and Amit Mehta will continue on. 8/15
JEMEX JPMorgan Emerging Markets Equity Income Fund Richard Titherington is no longer listed as a portfolio manager on the fund. Omar Negyal is now the sole portfolio manager on the fund 8/15
MNILX Litman Gregory Masters International Fund Wellington Management Company LLP will be removed as a sub-advisor and Jean-Marc Berteaux will be removed as the portfolio manager. That’s a rare rebuke for Wellington. The other four sets of sub-advisers remain. 8/15
NWUAX Nationwide U.S. Small Cap Value Fund Bhanu Singh will no longer serve as a portfolio manager for the fund. Joel Schnieder has joined Joseph Chi, Jed Fogdall and Henry Gray as a portfolio manager of the fund 8/15
NSIAX Nuveen Symphony International Equity Fund Joel Drescher is no longer listed as a portfolio manager on the fund. Marc Snyder joins Ross Sakamoto and Gunther Stein in managing the fund 8/15
NCGAX Nuveen Symphony Large-Cap Growth Fund Joel Drescher is no longer listed as a portfolio manager on the fund. Marc Snyder joins Ross Sakamoto and Gunther Stein in managing the fund 8/15
NCCAX Nuveen Symphony Mid-Cap Core Fund Joel Drescher is no longer listed as a portfolio manager on the fund. Marc Snyder joins Ross Sakamoto and Gunther Stein in managing the fund 8/15
OOSAX Oppenheimer Senior Floating Rate Fund Effective October 28, 2015, Margaret Hui will no longer serve as a portfolio manager for the fund. On that date, David Lukkes will join existing manager Joseph Welsh 8/15
PRDAX Principal Diversified Real Asset James Fennessey is no longer listed as a portfolio manager on the fund. Benjamin Rotenberg, Marcus Dummer, Jessica Bush, Jake Anonson, and Kelly Grossman will continue to manage the fund. 8/15
PMSAX Principal Global Multi-Strategy James Fennessey is no longer listed as a portfolio manager on the fund. Benjamin Rotenberg, Marcus Dummer, Jessica Bush, Jake Anonson, and Kelly Grossman will continue to manage the fund. 8/15
RAMVX Roumell Opportunistic Value Fund Edward Crawford is no longer a portfolio manager to the fund JamesRoumell, lead portfolio manager, will continue to provide services to the fund. 8/15
SSCPX Saratoga Small Capitalization Fund Patrick O’Brien is no longer listed as a portfolio manager on the fund. Mitch Zacks is the new portfolio manager 8/15
SMENX Schroder Emerging Markets Multi-Cap Equity Fund Daniel Winterbottom will no longer serve as a portfolio manager for the fund. Ayse Serinturk, James Larkman, Stephen Langford, and Justin Abercrombie will remain with the fund. 8/15
SRLN SPDR Blackstone / GSO Senior Loan ETF Lee Shaiman will retire by the end of September. Daniel McMullen will assume the portfolio manager role. 8/15
FUSIX Strategic Advisers® International II Fund H.B. King is no longer listed as a portfolio manager on the fund. Wilfred Chilangwa and Cesar Hernandez will continue to manage the fund 8/15
TVRAX Transparent Value Directional Allocation Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVEAX Transparent Value Dividend Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVAAX Transparent Value Large-Cap Aggressive Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVBAX Transparent Value Large-Cap Core Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVDAX Transparent Value Large-Cap Defensive Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVGAX Transparent Value Large-Cap Growth Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVMAX Transparent Value Large-Cap Market Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVVAX Transparent Value Large-Cap Value Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVSAX Transparent Value Small-Cap Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
TVKAX Transparent Value SMID-Cap Directional Allocation Fund Julian Koski will no longer serve as a portfolio manager for the fund. Scott Hammond, Armen Arus and Gennadiy Khayutin will remain as the portfolio managers of the fund. 8/15
USIFX USAA International Fund No one, but . . . The fund’s Board of Trustees recently approved Lazard Asset Management and Wellington Management LLP as two additional subadvisers to the fund 8/15
VAIAX Virtus Alternative Income Solution Fund Joe Lu will no longer serve as a portfolio manager for the fund. The rest of the extensive team remains. 8/15
VATAX Virtus Alternative Total Solution Fund Joe Lu will no longer serve as a portfolio manager for the fund. The rest of the extensive team remains. 8/15
Various Voya Solution, Retirement Solution and Index Solution funds Frank van Etten will no longer serve as a portfolio manager for about 20 funds. The other managers remain. 8/15
WHGMX Westwood Smidcap Fund Ragen Stienk is no longer listed as a portfolio manager on the fund. Susan Schmidt joins Prashant Inamdar, Thomas Lieu, and Grant Taber in running the fund. 8/15
WHGPX Westwood Smidcap Plus Fund Ragen Stienk is no longer listed as a portfolio manager on the fund. Susan Schmidt joins Prashant Inamdar, Thomas Lieu, and Grant Taber in running the fund. 8/15

 

Manager changes, July 2015

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
ALLGX AllianzGI Best Styles Global Equity Fund (“best styles”? really?) No one, but . . . Dr. Michael Heldmann joins Dr. Klaus Teloeken and Dr. Rainer Tafelmayer in managing the fund. 7/15
ASQPX AllianzGI Best Styles International Equity Fund No one, but . . . Karsten Niemann joins Dr. Michael Heldmann in managing the fund. 7/15
ALBPX AllianzGI Best Styles U.S. Equity Fund No one, but . . . Dr. Michael Heldmann joins Karsten Niemann in managing the fund. 7/15
JCRAX ALPS/Core Commodity Management Complete Commodities Strategy Fund Satch Chada is no longer serving as a co-portfolio manager of the fund. Robert Hyman will remain as the sole portfolio manager. 7/15
FXDAX Altegris Fixed Income Long Short Fund Effective July 10, 2015, Joe Lu of MAST Capital Management, LLC has been removed as a portfolio manager. The rest of the team of David Steinberg, Peter Reed, Robert Murphy, Eric Bundonis, James Nimberg, Anilesh Ahuga, and Kevin Schweitzer, remain. 7/15
CALSX Calamos Long/Short Fund Brendan Maher is no longer listed as a portfolio manager of the fund. The fund continues to be managed by the rest of the team of John Calamos, Sr., Gary Black, Daniel Fu, and Matthew Wolfson. 7/15
CVSIX Calamos Market Neutral Income Fund Brendan Maher is no longer listed as a portfolio manager of the fund. The fund continues to be managed by the rest of the team of John Calamos, Sr., Gary Black, Jason Hill and Eli Pars. 7/15
SLMCX Columbia Seligman Communications and Information Fund Ajay Diwan is no longer listed as a portfolio manager Clark Westmont and Jeetil Patel join Rahul Narang, Shekhar Pramanick, Sanjay Devgan, and Paul Wick in running the fund. 7/15
SHGTX Columbia Seligman Global Technology Fund Ajay Diwan is no longer listed as a portfolio manager Clark Westmont and Jeetil Patel join Rahul Narang, Shekhar Pramanick, Sanjay Devgan, and Paul Wick in running the fund. 7/15
BTAEX Deutsche EAFE Equity Index Fund Joseph LaPorta is no longer listed as a portfolio manager Patrick Dwyer joins Thomas O’Brien in managing the fund 7/15
DNVAX Deutsche International Value Fund E. Clifton Hoover and Wesley Wright are no longer managers of the fund Di Kumble is the new manager 7/15
MIDVX Deutsche Mid Cap Value Fund No one, but . . . Richard Hanlon has joined Richard Glass in managing the fund. 7/15
DALVX Dunham Large Cap Value Fund Robert McGee and Gregory Melvin are out. Rothschild Asset Management is the new subadvisor, with Chris Kaufman and Paul Roukis at the reins. 7/15
FAGAX Fidelity Advisor Growth Opportunities Fund Gopal Reddy is no longer listed as a portfolio manager on the fund. Kyle Weaver and Steven Wymer have taken over the fund. 7/15
FIDSX Fidelity Select Portfolios Financial Sector Fund No one, but . . . Daniel Dittler has joined Christopher Lee as a co-manager for the fund. 7/15
AGRRX Forward Multi-Strategy Fund Jim O’Donnell no longer serves as Chief Investment Officer of Forward Management or as a portfolio manager to the fund Nathan Rowader, Paul Broughton, and David Janec will remain on the fund. 7/15
FFSCX Forward Small Cap Equity Fund Jim O’Donnell no longer serves as Chief Investment Officer of Forward Management or as a portfolio manager to the fund Paul Broughton and Randall Coleman will carry on. 7/15
GARTX Goldman Sachs Absolute Return Tracker Fund Matthew Hoehn no longer serves as a portfolio manager for the fund. Gary Chropuvka and Alex Chung remain. 7/15
GCMAX Goldman Sachs Mid Cap Value Fund Dolores Bamford announced that she will be retiring from Goldman Sachs, effective September 1st. Andrew Braun, Sean Gallagher, and Timothy Ryan will continue to run the fund 7/15
GRPOX Goldman Sachs Retirement Portfolio Completion Fund Matthew Hoehn no longer serves as a portfolio manager for the fund Steve Jeneste will serve as a portfolio manager for the fund, joining Gary Chropuvka. 7/15
HINVX Heartland International Value Fund No one, but . . . Michael Jolin has joined Robert Sharpe as a co-portfolio manager of the fund. 7/15
HFOAX Henderson International Opportunities Fund No one, but . . . Glen Finegan and Ronan Kelleher join the rest of the team of Stephen Peak, Nicholas Cowley, Andrew Gillan, Bill McQuaker, Vincent Musumeci, Tim Stevenson, and Ian Warmerdam. 7/15
HSZAX Highland Small-Cap Equity Fund Marc Shapiro and Palisade Capital Management are no longer advising the fund James Dondero and Michael Gregory remain on the fund. 7/15
HISIX Homestead International Value Fund The Board of Directors has voted to terminate the contract of subadvisor, Mercator Asset Management. It’s expected that SSGA Funds Management will be appointed appointed as subadvisor on September 15th 7/15
IMIFX Innovator McKinley Income Fund Steven Carhart is no longer listed as a manager to the fund Gregory Samorajski, Brandon Rinner, Sheldon Lien, Robert B. Gillam, and Robert A. Gillam will be managing the fund with slightly changed investment strategies. 7/15
IGWAX Ivy Micro Cap Growth Fund Paul J. Ariano, Paul K. LeCoq, Luke A. Jacobson and Alexis C. Waadt are out, along with subadvisor Wall Street Associates, LLC. John Bichelmeyer will be managing the fund. 7/15
JUCAX Janus Global Unconstrained Bond Fund No one, but . . . Kumar Palghat joins Bill Gross in managing the fund. One wonders if giving Gross this fund will be a “act in haste, repent at leisure” decision for Janus? 7/15
MDDDX Marsico Growth FDP Fund, which will become the FDP BlackRock Janus Growth Fund. As part of the change in name, subadvisor, and strategy, Coralie Witter and Thomas Marsico will no longer be portfolio managers. That’s happened a lot to the Marsico folks. Carmel Wellso will manage the fund. 7/15
MCHFX Matthews China Fund Richard Gao began a sabbatical on July 1, 2015 which suggests he’ll be back but doesn’t hint about when. Until then … Winnie Chwang, Henry Zhang, and Andrew Mattock remain, with Mssr. Mattock assuming the lead manager role. 7/15
NWAAX Nationwide Portfolio Completion Fund No one, but . . . Steve Jeneste will serve as a portfolio manager for the fund, joining Gary Chropuvka and Amna Qaiser 7/15
NCGFX New Covenant Growth Fund No one, but . . . Peter Thompson and Brian Kramp have joined the extensive management team 7/15
JPPAX Perkins Global Value Fund J. Christian Kirtley is no longer listed as a portfolio manager for the fund Gregory Kolb and Tadd Chessen will remain on the fund. 7/15
JIFAX Perkins International Value Fund J. Christian Kirtley is no longer listed as a portfolio manager for the fund Gregory Kolb and Tadd Chessen will remain on the fund. 7/15
PRCPX T. Rowe Price Credit Opportunities Fund Paul Karpers has been replaced … … by Rodney Rayburn. 7/15
TRHYX T. Rowe Price Institutional High Yield Fund Paul Karpers has been replaced … … by Mark Vaselkiv. Mr. V. is Price’s lead high-yield manager and has done really good work. 7/15
Various T. Rowe Price Retirement Series – all funds No one, but . . . Wyatt Lee will join Jerome Clark as the funds’ co-portfolio manager. 7/15
VBINX Vanguard Balanced Index Fund No one, but . . . Christopher Wrazen joins Joshua Barrickman and Christine Franquin 7/15
VCVSX Vanguard Convertible Securities Fund Larry Keele is no longer listed as a portfolio manager of the fund. Jean-Paul Nedelec, Abraham Ofer, and Stuart Spangler will remain on the fund. 7/15
NAWGX Voya Global Value Advantage Fund David Rabinowitz will no longer manage the fund. Martin Jansen, Christopher Corapi, Vincent Costa, and James Ying will remain on the fund. 7/15
WTMIX Westcore Micro-Cap Opportunity Fund Jon Tesseo is no longer a portfolio manager of the fund and has resigned from the subadvisor. Paul Kuppinger will remain with the fund. 7/15
WRAAX Wilmington Multi-Manager Alternatives Fund Brendan Maher of Calamos Advisors, LLC and Todd Murphy of Wilmington Trust Investment Advisors are no longer portfolio managers of the fund. The other 16 portfolio managers will remain 7/15
WMMRX Wilmington Multi-Manager Real Asset Fund Todd Murphy of Wilmington Trust Investment Advisors is no longer a portfolio manager of the fund. The other 9 managers will carry on 7/15
WAAAX Wilmington Strategic Allocation Aggressive Fund Rex Macey of Wilmington Trust Investment Advisors is no longer a portfolio manager of the fund Mark Stevenson, Allen Choinski, and Joshua Savadore will remain with the fund 7/15
WCAAX Wilmington Strategic Allocation Conservative Fund Rex Macey of Wilmington Trust Investment Advisors is no longer a portfolio manager of the fund Mark Stevenson, Allen Choinski, and Joshua Savadore will remain with the fund 7/15
ARBAX Wilmington Strategic Allocation Moderate Fund Rex Macey of Wilmington Trust Investment Advisors is no longer a portfolio manager of the fund Mark Stevenson, Allen Choinski, and Joshua Savadore will remain with the fund 7/15

 

Manager changes, June 2015

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

ASLAX

AB Select Long/Short Portfolio

No one, but . . .

Anthony Nappo joins Kurt Feuerman in managing the fund

6/15

AUUAX

AB Select US Equity Fund

No one, but . . .

Anthony Nappo joins Kurt Feuerman in managing the fund

6/15

ALAFX

Alger Capital Appreciation Focus Fund

No one, but . . .

Ankur Crawford joins Patrick Kelly in managing the fund

6/15

ACAAX

Alger Capital Appreciation Fund

No one, but . . .

Ankur Crawford joins Patrick Kelly in managing the fund

6/15

SPECX

Alger Spectra Fund

No one, but . . .

Ankur Crawford joins Patrick Kelly in managing the fund

6/15

ABFAX

American Beacon Balanced Fund

Wyatt Crumpler, American Beacon’s CIO, is no longer listed as a portfolio manager. The firm was purchased by two outside groups in May and we can’t tell if this is fallout from that.

The extensive team of Mark Giambrone, Samuel Silver, Gene Needles, James Clarke, Erin Higginbotham, Patrick Kaser, Scott McBride, Deborah Petruzzelli, Patrick Sporl, Judd Peters, J. Scott McDonald, Mark Luchsinger, Adriana Posada, Paul Lesutis, Stephen Smith, George Davis, John Williams, David Hardin, and James Barrow remain.

6/15

AEMAX

American Beacon Emerging Markets Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

AFXAX

American Beacon Flexible Bond Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

ABHAX

American Beacon High Yield Bond Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

AITAX

American Beacon Intermediate Bond Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

AIEAX

American Beacon International Equity Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

ALVAX

American Beacon Large Cap Value Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

ABMAX

American Beacon Mid-Cap Value Fund

Wyatt Crumpler and Manoj Tandon are no longer listed as portfolio managers

John Flynn joins the rest of the team.

6/15

AAPAX

American Beacon Retirement Income and Appreciation Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

ABSAX

American Beacon Small Cap Value Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The rest of the extensive team remains.

6/15

ATSAX

American Beacon Treasury Inflation Protected Securities Fund

Wyatt Crumpler is no longer listed as a portfolio manager

The team of Joseph Murphy, David Eichhorn, Robert Bayston, Jess Yawitz, Anthony Pope, William Marshall, Kenneth Lester, and Kirk Brown carry on.

6/15

CESVX

AMG Chicago Equity Partners Small Cap Value Fund

No one, but . . .

William Murray joins David Coughenour, Patricia Halper, and Robert Kramer in managing the fund

6/15

BMMAX

BlackRock Multi-Manager Alternative Strategies Fund

No one, but . . .

Ionic Asset Management has been added as a sixth subadvisor to the fund

6/15

BMHAX

BMO Monegy High Yield Bond Fund

Sadhana Valia intends retire to on September 1, 2015.

Lori Marchildon will continue to manage the fund.

6/15

CSIEX

Calvert Equity Portfolio

Paul Marshall has resigned from the subadvisor, Atlanta Capital Management Company, and will no longer serve as portfolio manager

Richard England is joined by Lance Garrison, Joseph Hudepohl, Jeffrey Miller, and Robert Walton.

6/15

CSXAX

Calvert US Large Cap Core Responsible Index (formerly the Calvert Social Index Fund)

Matthew Moore and Natalie Trunow are no longer portfolio managers of the fund. We’re kind of ambivalent about how much difference that could make since an index fund’s manager is akin to a driverless car’s chauffeur.

The new management team includes Lise Bernhard, Dale Stout, and J. Laurie Webster.

6/15

CLTAX

Catalyst/Lyons Tactical Allocation Fund

Louis Stevens is no longer listed as a portfolio manager

The team of Brent Haworth, Alexander Read, and Michael Schoonover have taken over.

6/15

SBVAX

Clearbridge Small Cap Value Fund

Marina Chinn is no longer listed as a portfolio manager to the fund.

The rest of the team, Peter Hable, Mark Bourguignon, Mark Feasey, and Michael Kang, will continue to manage the fund

6/15

DPIAX

Destra Preferred and Income Securities Fund

Mssr. Robert Ettinger retired from his role as portfolio manager on June 30, 2015

R. Eric Chadwick, Donald Crumrine, and Bradford Stone will continue to manage the fund

6/15

EAALX

Eaton Vance Atlanta Capital Focused Growth Fund

Paul Marshall has resigned from the subadvisor, Atlanta Capital Management Company, and will no longer serve as portfolio manager

Richard England is joined by Lance Garrison, Joseph Hudepohl, Jeffrey Miller, and Robert Walton.

6/15

GNFRX

Geneva Advisors International Growth Fund

Eswar Menon is no longer listed as a portfolio manager to the fund

Daniel Delany, Matthew Scherer and Reiner Triltsch will carry on.

6/15

OHYDX

Oaktree High Yield Bond Fund

No one, but . . .

David Rosenberg joined Sheldon Stone and Shannon Ward in managing the fund

6/15

OALGX

Optimum Large Cap Growth Fund

No one, but . . .

Ankur Crawford joins Patrick Kelly in managing the fund

6/15

PCYAX

PCS Commodity Strategy Fund

Roxanne Bennett is no longer a portfolio manager for the fund

Alan Konn, John Reese, David Schink continue to manage the fund and are joined by Carlton Chin and Karl Foster

6/15

PEQAX

PIMCO EqS Emerging Markets Fund

Virginie Maisonneuve, one of a set of superstars that PIMCO brought on-board when they decided to move into equities. Most are gone now.

Geraldine Sundstrom

6/15

PIODX

Pioneer Fund

No one, but . . .

Jeff Kripke joins John Carey and Walter Hunnewell

6/15

RLLBX

Rothschild Larch Lane Alternatives Fund

Christophe Jaubert no longer serves as a portfolio manager of the fund.

Shakil Riaz joins Nicolas de Croisset, Rajiv Sobti, Kazuhiro Shimbo, Rasheed Sabar, Charles Korchinski, Mark Jurish, David Harding, Geoffrey Doyle, Matthew Beddall, and Ki Akrami in running the fund.

6/15

RSMSX

RS Emerging Markets Small Cap Fund

No one, but . . .

Maria Freund has joined Michael Reynal, Michael Ade, and Peter Luo on the management team.

6/15

SCGLX

Scout Global Equity Fund

No one, but . . .

Charles John joined James Reed and James Moffett in managing the fund

6/15

TACFX

Stadion Alternative Income Fund

David Pursell is no longer listed as a portfolio manager

Clayton Shiver and William McGough join Brad Thompson and Judson Doherty in managing the fund

6/15

STTGX

Stadion Trinity Alternative Return Fund

David Pursell is no longer listed as a portfolio manager

Clayton Shiver and William McGough join Brad Thompson and Judson Doherty in managing the fund

6/15

PRGIX

T. Rowe Price Growth & Income

Thomas Huber is setting down after eight years with the fund but is continuing at Dividend Growth where he’s had a longer record and more success

Jeffrey Rottinghaus, who has been running Price funds that target European investors but invest in US stocks

6/15

WMMRX

Wilmington Multi-Manager Real Asset Fund

No one, but . . .

Joshua Savadove and Jordan Strauss will become portfolio managers, joining the team of David Stein, Thomas Seto, Todd Murphy, Thomas Pierce, Mihir Worah, Joseph Smith, T. Ritson Ferguson, and Steven Burton.

6/15

 

Manager changes, May 2015

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

TDBAX

AB Multi-Manager Select 2010 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDCAX

AB Multi-Manager Select 2015 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDDAX

AB Multi-Manager Select 2020 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDAGX

AB Multi-Manager Select 2025 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDHAX

AB Multi-Manager Select 2030 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDMAX

AB Multi-Manager Select 2035 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDJAX

AB Multi-Manager Select 2040 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDNAX

AB Multi-Manager Select 2045 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDLAX

AB Multi-Manager Select 2050 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDAPX

AB Multi-Manager Select 2055 Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

TDAIX

AB Multi-Manager Select Retirement Allocation Fund

Jeremy Stempien is no longer listed as a portfolio manager on the fund

John McLaughlin joins Brian Huckstep, Daniel Loewy, Christopher Nikolich, and Vadim Zlotnikov on the management team

5/15

ABMAX

American Beacon Mid-Cap Value Fund

Subadvisor, LMCG Investments Group, has been terminated, along with portfolio managers R. Todd Vingers and Jay Willadsen

WEDGE Captial Management is a new subadvisor. John Carr, Brian Pratt, Paul VeZolles, and Richard Wells join the existing managers, James Barrow, Mark Giambrone, Adriana Posada, Richard Pzena, Manoj Tandon, Wyatt Crumpler, Gene Needles, and Eli Rabinowich

5/15

AAPAX

American Beacon Retirement Income and Appreciation Fund

Steve Klouda is no longer listed as a portfolio manager.

The other twelve managers remain

5/15

BACPX

BlackRock 20/80 Target Allocation Fund, formerly BlackRock Conservative Prepared Portfolio

Philip Green is no longer listed as a manager of the fund, which has undergone a name and strategy change.

Michael Gates and Russ Koesterich will manage the renamed fund.

5/15

BAMPX

BlackRock 40/60 Target Allocation Fund, formerly BlackRock Moderate Prepared Portfolio

Philip Green is no longer listed as a manager of the fund, which has undergone a name and strategy change.

Michael Gates and Russ Koesterich will manage the renamed fund.

5/15

BAGPX

BlackRock 60/40 Target Allocation Fund, formerly BlackRock Growth Prepared Portfolio

Philip Green is no longer listed as a manager of the fund, which has undergone a name and strategy change.

Michael Gates and Russ Koesterich will manage the renamed fund.

5/15

BAAPX

BlackRock 80/20 Target Allocation Fund, formerly Blackrock Aggressive Growth Prepared Portfolio

Philip Green is no longer listed as a manager of the fund, which has undergone a name and strategy change.

Michael Gates and Russ Koesterich will manage the renamed fund.

5/15

BALPX

BlackRock Event Driven Equity Fund

Peter Stournaras is no longer listed as a portfolio manager of the fund

Mark McKenna is the new portfolio manager

5/15

BCAMX

Boston Common U.S. Equity Fund

Thomas Darling is no longer with Boston Common Asset Management, and will no longer serve as a portfolio manager to the fund

The rest of the team, Praveen Abichandani, Geeta Aiyer, Steven Heim, and Corné Biemans, remains.

5/15

BUFOX

Buffalo Emerging Opportunities Fund

John Bichelmeyer is no longer a co-portfolio manager to the fund

Doug Cartwright has been added as a co-portfolio manager, joining Craig Richard.

5/15

ATRAX

Catalyst Absolute Total Return Fund, which will undergo a name and objective change to Catalyst Intelligent Alternative Fund in July.

Shawn Blau and William Kennedy are no longer portfolio managers of the fund

David Miller is now the portfolio manager

5/15

CLPAX

Catalyst/Lyons Hedged Premium Return Fund

Louis A. Stevens is no longer a portfolio manager

Brent Haworth and Michael Schoonover join Alexander Read in managing the fund.

5/15

CLTAX

Catalyst/Lyons Tactical Allocation Fund

Louis A. Stevens is no longer a portfolio manager

Brent Haworth and Michael Schoonover join Alexander Read in managing the fund.

5/15

CSMVX

Century Small Cap Select Fund

Kevin Callahan is no longer listed as a portfolio manager of the fund

Alexander Thorndike carried on as sole portfolio manager

5/15

MAIOX

Columbia International Opportunities Fund, formerly Columbia Marsico International Opportunities Fund

Munish Malhotra and Marsico Capital are out. Poor Marsico.

William Davies, Dave Dudding, and Simon Haines have assumed portfolio management duties

5/15

GHAFX

Granite Harbor Alternative Fund

V2 (for “Victor Vine,” not for Germany’s WW2 rocket) Capital is no longer a subadviser to the fund, and Victor Viner, Brett Novosel, and Michael Holleb are no longer listed as portfolio managers

The other ten managers remain

5/15

GHTFX

Granite Harbor Tactical Fund

V2 Capital is no longer a subadviser to the fund, and Victor Viner, Brett Novosel, and Michael Holleb are no longer listed as portfolio managers

The other ten managers remain

5/15

MXSGX

Great-West Small Cap Growth Fund

Effective immediately, Christopher Guinther is no longer a portfolio manager to the fund.

Michael Sansoterra and Sandeep Bhatia remain.

5/15

HERAX

Hartford Emerging Markets Equity Fund, formerly Hartford Emerging Markets Research Fund, has also undergone a strategy change and fee reduction.

Cheryl Duckworth is no longer listed as a portfolio manager

David Elliot has taken over as portfolio manager

5/15

HFRAX

Highland Floating Rate Opportunities Fund

No one, but . . .

Chris Mawn (former manager of Highland Opportunistic Credit Fund) joins Mark Okada in managing the fund

5/15

HNRAX

Highland Opportunistic Credit Fund

Chris Mawn will no longer serve as a portfolio manager to the fund, as he moves over to help manage the Highland Floating Rate Opportunities Fund

Trey Parker joins James Dondero in managing the fund

5/15

HCGAX

HSBC Emerging Markets Debt Fund

Phil Yuhn will no longer serve as a portfolio manager to the fund

Guillermo Ariel Ossés, Lisa Chua, and Vinayak Potti remain on the fund.

5/15

HBMAX

HSBC Emerging Markets Local Debt Fund

Phil Yuhn will no longer serve as a portfolio manager to the fund

Guillermo Ariel Ossés, Lisa Chua, and Vinayak Potti remain on the fund.

5/15

HTRAX

HSBC Total Return Fund

Phil Yuhn will no longer serve as a portfolio manager to the fund

Guillermo Ariel Ossés, Lisa Chua, and Vinayak Potti remain on the fund.

5/15

MKNAX

Invesco Global Market Neutral Fund

Karl Georg Bayer is no longer a portfolio manager

Michael Abata, Uwe Draeger, Nils Huter, Charles Ko, Jens Langewand, and Andrew Waisburd remain.

5/15

LVLAX

Invesco Low Volatility Emerging Markets Fund

Karl Georg Bayer is no longer a portfolio manager  on this not-noticeably-low volatility fund

Michael Abata, Uwe Draeger, Nils Huter, Charles Ko, Jens Langewand, and Andrew Waisburd remain.

5/15

IREAX

Ivy Global Real Estate Fund

Ernst-Jan de Leeuw is no longer listed as a portfolio manager

Stanley Kraska Jr., George Noon, and Keith Pauley are joined by Matthew Sgrizzi

5/15

IVRAX

Ivy Global Risk-Managed Real Estate Fund

Ernst-Jan de Leeuw is no longer listed as a portfolio manager

Stanley Kraska Jr., George Noon, and Keith Pauley are joined by Matthew Sgrizzi

5/15

RGROX

JHancock Select Growth Fund

Ian Tabberer is no longer the portfolio manager of the fund

Gary Robinson is the new portfolio manager of the fund.

5/15

LCORX

Leuthold Core Investment I Fund

Effective as of June 30, 2015, Matthew Paschke is taking a leave of absence from The Leuthold Group to pursue other personal interests, and will no longer serve as a portfolio manager of the Leuthold Funds. Despite a sort of goofy official portrait, Matt struck us as solid and thoughtful, and we wish him well with his new endeavors.

Doug Ramsay and Chun Wang remain and are likely to pick up a co-manager or two from Leuthold’s analyst corps.

5/15

LGINX

Leuthold Global Industries Fund

Effective as of June 30, 2015, Matthew Paschke is taking a leave of absence from The Leuthold Group to pursue other personal interests, and will no longer serve as a portfolio manager of the Leuthold Funds.

The Leuthold Funds will add current employees familiar with the internal processes to the portfolio teams.

5/15

GLBLX

Leuthold Global Fund

Effective as of June 30, 2015, Matthew Paschke is taking a leave of absence from The Leuthold Group to pursue other personal interests, and will no longer serve as a portfolio manager of the Leuthold Funds.

The Leuthold Funds will add current employees familiar with the internal processes to the portfolio teams.

5/15

LSLTX

Leuthold Select Industries Fund

Effective as of June 30, 2015, Matthew Paschke is taking a leave of absence from The Leuthold Group to pursue other personal interests, and will no longer serve as a portfolio manager of the Leuthold Funds.

The Leuthold Funds will add current employees familiar with the internal processes to the portfolio teams.

5/15

EAPEX

Parametric Emerging Markets Core Fund

David Stein is no longer listed as a portfolio manager of the fund

Timothy Atwill and Thomas Seto will carry on.

5/15

ETIGX

Parametric Tax-Managed International Equity Fund

David Stein is no longer listed as a portfolio manager of the fund

Thomas Seto and Paul Bouchey will carry on.

5/15

LSEAX

Persimmon Long/Short Fund

No one, but . . .

Ken Cavazzi joins the other eleven managers on the fund. Twelve guys on a $30 million fund might help explain the 3.29% e.r.

5/15

PATHX

PIMCO EqS Pathfinder Fund

Anne Gudefin, the star manager brought in when the fund was launched, is no longer listed as a portfolio manager of the fund

Virginie Maisonneuve and Geraldine Sundstrom

5/15

STCIX

RidgeWorth Large Cap Growth Stock Fund

Christopher Guinther is no longer a portfolio manager

Michael Sansoterra and Sandeep Bhatia remain.

5/15

SCGIX

RidgeWorth Small Cap Growth Stock Fund

Christopher Guinther is no longer a portfolio manager

Michael Sansoterra and Sandeep Bhatia remain.

5/15

SGEAX

Salient Global Equity Fund

Ajay Mehra is no longer listed as a portfolio manager

Lee Partridge continues on as sole portfolio manager

5/15

FILFX

Strategic Advisers International Fund

No one, but . . .

Stephanie Braming joins the extensive team

5/15

FBAAX

SunAmerica Focused Balanced Strategy

Kara Murphy, Timothy Pettee and Timothy Campion are no longer listed as portfolio managers

Douglas Loeffler will serve as the portfolio manager

5/15

FASAX

SunAmerica Focused Multi-Asset Strategy

Kara Murphy, Timothy Pettee and Timothy Campion are no longer listed as portfolio managers

Douglas Loeffler will serve as the portfolio manager

5/15

TGGEX

TCW Growth Equities Fund

Mike Olson has ceased to be a portfolio manager of the fund.

Chang Lee has assumed full responsibilities as the sole portfolio manager.

5/15

TGSCX

TCW Small Cap Growth Fund

Mike Olson has ceased to be a portfolio manager of the fund.

Chang Lee has assumed full responsibilities as the sole portfolio manager.

5/15

TGSDX

TCW SMID Cap Growth Fund

Mike Olson has ceased to be a portfolio manager of the fund.

Chang Lee has assumed full responsibilities as the sole portfolio manager.

5/15

TSNAX

Touchstone Sands Capital Select Growth Fund

No one, but . . .

Franks Sands, Jr. has been joined by Thomas Ricketts and A. Michael Sramek.

5/15

TEQAX

Touchstone Sustainability and Impact Equity Fund, formerly Touchstone Large Cap Growth Fund

Interim portfolio manager, Wayne Hollister, is no longer interim-ing.

Jimmy Chang, Farha-Joyce Haboucha, and David Harris are now managing the fund.

5/15

TTAAX

Transamerica Dynamic Allocation II, formerly Transamerica Tactical Allocation, has undergone a complete reorganization

Doug Weih, David Halfpap, and Frank Rybinski are no longer listed as portfolio managers to the fund

Prashant Chandran, S. Kenneth Leech, Y. Wayne Lin, Thomas Picciochi, and Ellen Tesler are now the portfolio managers

5/15

ATTRX

Transamerica Dynamic Allocation, formerly Transamerica Tactical Rotation, has undergone a complete reorganization

Doug Weih, David Halfpap, and Frank Rybinski are no longer listed as portfolio managers to the fund

Prashant Chandran, S. Kenneth Leech, Y. Wayne Lin, Thomas Picciochi, and Ellen Tesler are now the portfolio managers

5/15

IGTAX

Transamerica Dynamic Income, formerly Transamerica Tactical Income, has undergone a complete reorganization

Doug Weih, David Halfpap, and Frank Rybinski are no longer listed as portfolio managers to the fund

Y. Wayne Lin, Thomas Picciochi, and Ellen Tesler are now the portfolio managers

5/15

TMCGX

Turner Emerging Growth Fund

Peter Niedland is no longer listed as a portfolio manager

Richard Gould joins Jason Schrotberger in managing the fund

5/15

TSCEX

Turner Small Cap Growth Fund

Peter Niedland is no longer listed as a portfolio manager

Richard Gould joins Jason Schrotberger in managing the fund

5/15

VWUSX

Vanguard U.S. Growth Fund

Ian Tabberer is no longer listed as a portfolio manager

Gary Robinson joins the team of Kathleen McCarragher, Blair Boyer, David Ricci, Jeffrey Van Harte, Andrew Shilling, Daniel Prislin, James Golan, Christopher Ericksen, and Christopher Bonavico

5/15

VWNDX

Vanguard Windsor Fund

No one, but . . .

Benjamin Silver joins Richard Pzena, John Goetz, and James Mordy on the management team

5/15

WUSAX

Wanger USA

No one yet, but Robert Mohn, lead portfolio manager, will step down in the fourth quarter of 2015.

William Doyle will remain on the fund

5/15

 

Manager changes, April 2015

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

AHFAX

Aurora Horizons Fund

No one, but . . .

Gregory Schneiderman and Patrick Sheedy will join Justin Sheperd, Scott Schweighauser, Anne Morley, and Roxanne Martino, as Pine River Capital Management is added as an eleventh subadvisor to the fund

4/15

BLSAX

BlackRock Emerging Markets Long/Short Equity Fund

Rodolfo Martell is no longer listed as a portfolio manager on the fund

Jeff Shen is joined by Dan Blumhardt and Clint Newman.

4/15

BAGEX

BMO Pyrford Global Equity Fund

Bruce Campbell is no longer listed as a portfolio manager

Suhail Arain, Tony Cousins, Daniel McDonagh, and Paul Simons will carry on

4/15

BPIAX

BMO Pyrford International Stock Fund

Bruce Campbell is no longer listed as a portfolio manager

Tony Cousins, Daniel McDonagh, and Paul Simons will carry on

4/15

CALSX

Calamos Long/Short Fund

Naveen Yalamanchi and Himanshu Sheth are no longer listed as portfolio managers

Gary Black, John Calamos, Daniel Fu, Brendan Maher, and Matthew Wolfson remain on the fund

4/15

LACAX

Columbia Acorn Fund

Robert Mohn will be stepping down near the end of the year

David Frank will be joined by P. Zachary Egan

4/15

LAUAX

Columbia Acorn USA

Robert Mohn will be stepping down near the end of the year

William Doyle will remain on the fund

4/15

EGFFX

Edgewood Growth Fund

James Robillard no longer serves as a portfolio manager of the fund

Alan Breed, Lawrence Creel, Scott Edwardson, Alexander Farman-Farmaian, Peter Jennison, Kevin Seth, and Nicholas Stephens carry on

4/15

FAGAX

Fidelity Advisor Growth Opportunities Fund

Steven Wymer no longer serves as co-manager of the fund

Gopal Reddy continues to server as sole portfolio manager

4/15

GMAMX

Goldman Sachs Multi-Manager Alternatives Fund

GAM International Management is no longer listed as a subadvisor to the fund

The primary management team, Jason Gottlieb and Ryan Roderick, remain with the fund.

4/15

EXCRX

Manning & Napier Core Bond Fund

Jack Bauer is no longer listed as a portfolio manager. At about this point Chip, the proprietor of this list, discovered that M&N had changed management on virtually every fund and began grinding her teeth.

Marc Bushallow and R. Keith Harwood remain on the fund

4/15

MNCPX

Manning & Napier Core Plus Bond Fund

Jack Bauer is no longer listed as a portfolio manager

Marc Bushallow and R. Keith Harwood remain on the fund

4/15

EXDVX

Manning & Napier Diversified Tax Exempt

Jack Bauer and James Nawrocki are no longer listed as portfolio managers

Elizaveta Akselrod and Marc Bushallow have taken over portfolio management

4/15

MDOIX

Manning & Napier Dynamic Opportunities Fund

Ebrahim Busheri is no longer a portfolio manager

Brian Lester and Ajay Sadarangani remain, and are joined by Habibe Hakiqi

4/15

MNIEX

Manning & Napier Emerging Markets Fund

Jeffrey Herrmann and Marc Tommasi are no longer listed as portfolio managers of the fund

Christian Andreach remains, and is joined by Muris Demirovic, Brian Ecker, and Ben Rozen.

4/15

MNFIX

Manning & Napier Focused Opportunities Fund

Walter Stackow is no longer a portfolio manager

John Mitchell and Robert Pickels are joined by William Moore in managing the fund

4/15

MNGIX

Manning & Napier Global Fixed Income Fund

Jack Bauer is no longer listed as a portfolio manager

Marc Bushallow, Marc Tommasi, and R. Keith Harwood remain on the fund

4/15

MNHAX

Manning & Napier High Yield Bond Fund

Jack Bauer is no longer listed as a portfolio manager

Marc Bushallow and R. Keith Harwood remain on the fund

4/15

EXWAX

Manning & Napier World Opportunities Fund

Christian Andreach, Jeffrey Coons, Ebrahim Busheri, Brian Gambill, Jeffrey Herrmann, Brian Lester, Michael Magiera, Christopher Petrosino, Robert Pickels, and Virge Trotter are no longer portfolio managers of the fund

Marc Tommasi, Ben Rosin, and Ebrahim Busheri remain, and are joined by Ajay Sadarangani.

4/15

MNIIX

Manning and Napier International Fund

Sidharth Abrol is no longer a portfolio manager

Marc Tommasi and Ben Rosin are joined by Robert Crawford and Scott Shattuck

4/15

QVGIX

Oppenheimer Global Allocation Fund

No one, but . . .

Mark Hamilton and Benjamin Rockmuller are joined by Dokyoung Lee and Alessio de Longis

4/15

PWAGX

Pathway Advisors Aggressive Growth Fund

No one, but . . .

James Worden joins David Schauer in managing the fund

4/15

PWCNX

Pathway Advisors Conservative Fund

No one, but . . .

James Worden joins David Schauer in managing the fund

4/15

PIPGX

Philadelphia Investment Partners New Generation Fund

“Joseph Duncan is no longer the Vice President or Portfolio Manager of Philadelphia Investment Partners, LLC, and is no longer affiliated with the Fund, Trust, or Adviser in any capacity.” Do you suppose Joseph was naughty?

Peter Zeuli continues on as the sole portfolio manager

4/15

SBMBX

Saratoga Energy & Basic Materials Fund

Salil Sharma is no longer listed as a portfolio manager

David Cohen continues as sole portfolio manager

4/15

SNTNX

Sentinel Mid Cap Fund

Carole Hersam will resign at the end of May, 2015

Jason Ronovech will continue as the sole portfolio manager

4/15

SAGWX

Sentinel Small Company Fund

Carole Hersam will resign at the end of May, 2016

Jason Ronovech will continue as the sole portfolio manager

4/15

WAEGX

Sentinel Sustainable Mid Cap Opportunities Fund

Carole Hersam will resign at the end of May, 2017

Jason Ronovech will continue as the sole portfolio manager

4/15

SPABX

SilverPepper Merger Arbitrage Fund

Daniel Lancz and Jeff O’Brien, along with sub-advisor Glenfinnen Capital, are out.

Steven Gerbel is in, with sub-advisor Brown Trout Management

4/15

PAGEX

T. Rowe Price Global Real Estate Fund

David Lee is no longer listed as a portfolio manager

Nina Jones is the new portfolio manager

4/15

PRFEX

T. Rowe Price Institutional International Growth Equity Fund

Robert Smith is no longer listed as a portfolio manager

Richard Clattenburg has taken over as portfolio manager

4/15

PRITX

T. Rowe Price International Stock Fund

Robert Smith is no longer listed as a portfolio manager after an eight year stint in which he produced modestly average returns for average risk.

Richard Clattenburg, who hasn’t previously managed a fund, gets his chance to be mediocre here. That’s no knock on Mr. C., but this fund has been doggedly mediocre through several sets of managers.

4/15

TEMFX

Templeton Foreign Fund

Lisa Myers is no longer listed as a manager of the fund

Tucker Scott, Norman J. Boersma, James Harper, and Heather Arnold remain

4/15

TAGBX

Templeton Global Balanced Fund

Lisa Myers is no longer listed as a manager of the fund

Heather Arnold joins Norman Boersma, James Harper, Michael Hasenstab, and Christopher Molumphy in running the fund.

4/15

TEPLX

Templeton Growth Fund

Lisa Myers is no longer listed as a manager of the fund

Tucker Scott, Norman J. Boersma, James Harper, and Heather Arnold remain

4/15

TEMWX

Templeton World Fund

Lisa Myers is no longer listed as a manager of the fund

Tucker Scott, Norman J. Boersma, James Harper, and Heather Arnold remain

4/15

TEQAX

Touchstone Large Cap Growth Fund

Navellier & Associates, Inc. has been terminated as a sub advisor to the fund, and Louis Navellier is no longer a portfolio manager

Russell Implementation Services will act as an interim advisor until Rockefeller & Company comes on board around May 4th. William Hollister will serve as the portfolio manager until that time.

4/15

GBTFX

US Global Investors All American Equity Fund

John Derrick no longer serves as a portfolio manager to the fund

Frank Holmes is joined by Ralph Aldis in managing the fund

4/15

USCOX

US Global Investors China Region Fund

John Derrick no longer serves as a portfolio manager to the fund

Frank Holmes and Xian Liang continue on

4/15

EUROX

US Global Investors Emerging Europe Fund

John Derrick no longer serves as a portfolio manager to the fund

Frank Holmes is joined by Ralph Aldis in managing the fund

4/15

MEGAX

US Global Investors Holmes Macro Trends Fund

John Derrick no longer serves as a portfolio manager to the fund

Frank Holmes and Brian Hicks continue on

4/15

NEARX

US Global Investors Near-Term Tax Free Fund

John Derrick no longer serves as a portfolio manager to the fund

Frank Holmes is joined by Ralph Aldis in managing the fund

4/15

UGSDX

US Global Investors US Government Securities Ultra-Short Bond Fund

John Derrick no longer serves as a portfolio manager to the fund

Frank Holmes is joined by Ralph Aldis in managing the fund

4/15

WRAAX

Wilmington Multi-Manager Alternatives Fund

Naveen Yalamanchi and Himanshu Sheth are no longer listed as portfolio managers

The rest of the team remains for now.

4/15

 

Manager changes, March 2015

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

SHKIX

Aftershock Strategies Fund

Dr. John David Wiedemer and Robert Wiedemer are no longer portfolio managers of the fund.

Daniel Cohen remains as the sole portfoliio manager

3/15

ELSAX

Altegris Equity Long Short Fund

Joseph Jolson and Jim Fowler are no longer listed as portfolio managers to the fund.

Richard Schimel has joined the remainder of the team of Robert Murphy, Eric Bundonis, Don Destino, Kelly Wiesborck, Robert Kim, and Richard Chilton.

3/15

BCSAX

BlackRock Commodity Strategies Fund

Catherine Raw is no longer listed as a portfolio manager of the fund

Robin Batchelor, Evy Hambro, Poppy Allonby, Rob Shimell, and Ricardo Fernandez continue to run the fund

3/15

BDHAX

BlackRock Dynamic High Income

Lutz-Peter Wilke is no longer listed as a portfolio manager

Alex Shingler joins Justin Christofel and Michael Fredericks in running the fund.

3/15

BAICX

BlackRock Multi-Asset Income

Lutz-Peter Wilke is no longer listed as a portfolio manager

Alex Shingler joins Justin Christofel and Michael Fredericks in running the fund.

3/15

BRRAX

BlackRock Multi-Asset Real Return Fund

In a sort of trifecta, Lutz-Peter Wilke is no longer listed as a portfolio manager here, either.

Justin Christofel, Michael Fredericks, Philip Green, and Sunder Ramkumar continue to run the fund.

3/15

CSIFX

Calvert Balanced Fund

Calvert has removed Profit Investment Management as a subadvisor to the fund, as well as Eugene Profit as a portfolio manager

The rest of the team, Natalie Trunow, Matthew Duch, Vishal Khanduja, and Joshua Linder, remains.

3/15

CWVGX

Calvert International Equity Fund

Martin Currie has been removed as a subadvisor to the fund, along with portfolio manager David Sheasby. Fabrice Bay is also no longer listed as a portfolio manager.

Natalie Trunow remains as the sole portfolio manager on the fund.

3/15

CULAX

Calvert Ultra-Short Income Fund

No one, but . . .

Brian Ellis has been added to the team of Vishal Khanduja, Matthew Duch, and Maurice Agudelo

3/15

NIEQX

Columbia Multi-Advisor International Equity Fund, whose name will become Columbia Select International Equity Fund on May 1st.

Dan Ison, Fred Copper, and Colin Moore are no longer listed as portfolio managers

Simon Haines, William Davies, and David Dudding comprise the new management team

3/15

GBRAX

Goldman Sachs BRIC Fund

Edward Perkin and Alina Chiew are no longer listed as portfolio managers for the fund

Prashant Khemka and Basak Yavuz will be managing the fund.

3/15

GEMAX

Goldman Sachs Emerging Markets Equity Fund

Edward Perkin and Alina Chiew are no longer listed as portfolio managers for the fund

Prashant Khemka and Basak Yavuz will be managing the fund.

3/15

GISAX

Goldman Sachs International Small Cap Fund

Aidan Farrell no longer serves on the fund.

Gaurav Rege carries on as the sole portfolio manager.

3/15

HEMAX

Henderson Emerging Markets Fund (formerly Henderson Emerging Market Opportunities)

The entire current team of Nicholas Cowley, Bill McQuaker, Stephen Peak, Andrew Mattlock, and Andrew Gillan, has been removed, as part of a name and strategy change.

Glen Finegan is lead portfolio manager of the fund.

3/15

AACFX

Invesco China Fund

Joseph Tang is no longer listed as the portfolio manager of this fund

Mike Shiao has taken over as portfolio manager

3/15

VVOAX

Invesco Value Opportunity Fund

Yoginder Kak and Jason Leder are out, possibly as part of a strategy change.

R. Canon Coleman, Jonathan Edwards, and Jonathan Mueller are the new managers to the fund.

3/15

JAMVX

Janus Aspen Perkins Mid Cap Value Fund

Jeffrey Kautz is no longer listed as a portfolio manager

Thomas Perkins and Kevin Preloger are joined by Justin Tugman.

3/15

BELAX

Modern Technology Fund

Marc Lewis is no longer the portfolio manager of the fund

The new team is David Morton, Peter DeCaprio, and Andrew Tuttle. Our advice: don’t get comfortable, this microscopic, spectacularly bad fund tends to eat a team a year.

3/15

TMFEX

Motley Fool Epic Voyage Fund

Tim Hanson has taken a new position at The Motley Fool, LLC (bye, Tim!) and will no longer serve as a senior portfolio manager for the fund.

The remainder of the team, William Mann, William Barker, Anthony Arsta, Nathan Weisshaar, Bryan Hinmon, David Meier, and Charles Travers, remain.

3/15

TMFGX

Motley Fool Great America Fund

Tim Hanson has taken a new position at The Motley Fool, LLC, and will no longer serve as a senior portfolio manager for the fund.

The remainder of the team, William Mann, William Barker, Anthony Arsta, Nathan Weisshaar, Bryan Hinmon, David Meier, and Charles Travers, remain.

3/15

FOOLX

Motley Fool Independence Fund

Tim Hanson has taken a new position at The Motley Fool, LLC, and will no longer serve as a senior portfolio manager for the fund.

The remainder of the team, William Mann, William Barker, Anthony Arsta, Nathan Weisshaar, Bryan Hinmon, David Meier, and Charles Travers, remain.

3/15

OEMAX

Oppenheimer Emerging Markets Local Debt Fund

Sara Zervos is no longer listed as a portfolio manager for the fund

Hemant Baijal continues to run the fund

3/15

OGYAX

Oppenheimer Global High Yield Fund

Jack Brown, Krishna Memani, and Sara Zervos are no longer listed as portfolio managers on the fund.

Young-Sup Lee has been joined by Michael Mata and Christopher Kelly.

3/15

OPSIX

Oppenheimer Global Strategic Income Fund

Jack Brown and Sara Zervos are no longer listed as portfolio managers on the fund.

Hemant Baijal joins Michael Mata and Krishna Memani in running the fund

3/15

OIBAX

Oppenheimer International Bond Fund

Sara Zervos is no longer listed as a portfolio manager for the fund

Christopher Kelly joins Hemant Baijal in running the fund

3/15

JDPAX

Perkins Mid Cap Value Fund

Jeffrey Kautz is no longer listed as a portfolio manager

Thomas Perkins and Kevin Preloger are joined by Justin Tugman.

3/15

JPVAX

Perkins Value Plus Income Fund

Jeffrey Kautz is no longer listed as a portfolio manager

Theodore Thome, R. Gibson Smith, and Darrell Watters will remain on the fund

3/15

FLILX

Strategic Advisers Emerging Markets Fund of Funds

No one, but . . .

M&G Investment Management has been added as a new subadviser, joining Pyramis Global Advisors and Acadian Asset Management

3/15

FMJDX

Strategic Advisers International Fund

No one, but . . .

Arrowstreet Capital has been added as a new subadvisor, joining Causeway Capital Management, Massachusetts Financial Services Company, Pyramis Global Advisors, TS&W, and William Blair & Company

3/15

FNAPX

Strategic Advisers Small-Mid Cap Fund

Massachusetts Financial Services Company is no longer a subadvisor to the fund.

Portolan Capital Management has been added as a new subadvisor to the fund, joining Advisory Research, The Boston Company Asset Management, Fisher Investments, Invesco Advisers, Kennedy Capital Management, Neuberger Berman Management, Pyramis Global Advisors, RS Investment Management, and Systematic Financial Management.

3/15

TGIBX

TCW International Growth Fund

Rohit Sah is no longer listed as a portfolio manager

Andrey Glukhov and Ray Prasad remain with the fund.

3/15

TGICX

TCW International Small Cap Fund

Rohit Sah is no longer listed as a portfolio manager

Andrey Glukhov and Ray Prasad remain with the fund.

3/15

TFCVX

Third Avenue Focused Credit Fund

Edwin Tai is no longer listed as a portfolio manager

Thomas LaPointe, Nathaniel Kirk, and Joseph Zalewski remain with the fund

3/15

TPEAX

Thrivent Partner Emerging Markets Equity Fund

Rafi Zaman has retired and is no longer listed as a portfolio manager to the fund

The new management team members are Hugh Young, Fiona Manning, Joanne Irvine, Devan Kaloo, and Mark Gordon-James

3/15

TSWEX

TS&W Equity Fund

Elizabeth Cabell Jennings is no longer serving as a portfolio manager.

Paul Ferwerda continues on.

3/15

VDGAX

Victory Dividend Growth Fund

As part of a change in investment strategy, Gregory Ekizian is no longer listed as a portfolio manager.

Lawrence Babin, Paul Danes, Carolyn Rains, Martin Shagrin, and Thomas Uutala comprise the new management team.

3/15

EGOAX

Wells Fargo Advantage Large Cap Core Fund

No one, but . . .

John Campbell has joined Jeff Moser in managing the fund

3/15

Manager changes, February 2015

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

AOFAX

Alger Growth Opportunities Fund

Jill Greenwald is no longer listed as portfolio manager of the fund

Amy Zhang is now portfolio manager of the fund; kudos to Alger for actually recognizing the fact – unknown to most of the industry – that women can be first-rate managers on first-rate funds.

2/15

AHSAX

Alger Health Sciences Fund

Joel Emery is no longer listed as a portfolio manager

Teresa McRoberts joins Dan Chung in managing the fund

2/15

AMGAX

Alger Mid Cap Growth Fund

Joel Emery is no longer listed as a portfolio manager

Teresa McRoberts joins Christopher Walsh, Brian Schulz, Michael Melnyk, Alex Goldman, and Ankur Crawford on the management team

2/15

ALSAX

Alger Small Cap Growth Fund

No one, but . . .

Jill Greenwald is joined by Amy Zhang in managing the fund

2/15

FXDAX

Altegris Fixed Income Long Short Fund

No one, but . . .

MAST Capital Management has been added as a subadvisor with Joe Lu, Peter Reed, and David Steinberg joining the existing team of Eric Bundonis, Robert Murphy, Kevin Schweitzer and Anilesh Ahuja.

2/15

MCRAX

Altegris Macro Strategy Fund

No one, but . . .

PhaseCapital has been added as a subadvisor with Pinaki Chatterjee and Geoffrey Goodell joining the team of Robert Murphy, Eric Bundonis, and John Tobin.

2/15

MBDFX

AMG Managers Total Return Bond Fund

PIMCO is no longer a subadvisor to the fund and Mihir Worah, Scott Mather, and Mark Kiesel are no longer portfolio managers.

Mary Kane, of subadvisor Gannet Welsh & Kotler, is the new portfolio manager.

2/15

AHFAX

Aurora Horizons Fund

No one, but . . .

Feingold O’Keeffe Capital has been added as a subadvisor.

2/15

BMCRX

BlackRock Flexible Equity Fund

Timothy Keefe is no longer listed as a portfolio manager on the fund

Peter Stournaras takes over portfolio management of the fund

2/15

BGORX

BlackRock Global Opportunities

No one, but . . .

Simon McGeough joined Thomas Callan and Ian Jamieson in managing the fund

2/15

BREAX

BlackRock International Opportunities

No one, but . . .

Simon McGeough joined Thomas Callan and Ian Jamieson in managing the fund

2/15

BMMAX

BlackRock Multi-Manager Alternative Strategies Fund

No one, but . . .

Achievement Asset Management has been added as a subadvisor, joining Independence Capital Asset Partners, LLC; LibreMax Capital, LLC; Meehan Combs, LP; Benefit Street Partners, LLC; and QMS Capital Management, LP.

2/15

BRTNX

Bretton Fund

No one, but . . .

Stephen Dodson will be joined by Raphael de Balmann in managing the fund and co-owning the adviser.

2/15

BCSIX

Brown Capital Management Small Company Fund

Amy Zhang leaves for an opportunity to manage her own fund, Alger Growth Opportunities (AOFAX).

Robert Hall, Keith Lee, Kempton Ingersol, Damien Davis, and Andrew Fones remain.

2/15

LEGAX

Columbia Large Cap Growth Fund

No one, but . . .

Tchintcia Barrows joins John Wilson and Peter Deininger in managing the fund

2/15

DDMAX

Deutsche Diversified Market Neutral Fund

Henderson Alternative Investment Advisor Ltd. will be resigning as a subadvisor in mid-May.

GAM International Management Limited will remain

2/15

FABLX

Fidelity Advisor Balanced Fund

Ford O’Neil is no longer listed as a portfolio manager

Pramod Atluri has joined the team of Robert Stansky, Steven Kaye, Robert Lee, Douglas Simmons, Pierre Sorel, Peter Saperstone, Tobias Welo, Brian Lempel, Jonathan Kasen, and Monty Kori.

2/15

FGBLX

Fidelity Global Balanced Fund

Risteard Hogan is off here after a year but remains at Fido Canada.

The rest of the team, Ruben Calderon, Geoff Stein, Andy Weir, John Lo, Stephen DuFour, Maria Nikishkova, and Stefan Lindblad, remains

2/15

FBNDX

Fidelity Investment Grade Bond Fund

No one, but . . .

Pramod Alturi joins Jeffrey Moore in managing the fund

2/15

GCMAX

Goldman Sachs Mid Cap Value Fund

No one, but . . .

Timothy Ryan joins the management team of Sean Gallagher, Andrew Braun, and Dolores Bamford

2/15

HRMDX

Heartland Mid Cap Value Fund

Theodore Baszler has retired.

Will Nasgovitz joins Colin McWey as a co-manager of the fund

2/15

HRSVX

Heartland Select Value Fund

Theodore Baszler has retired.

Colin McWey will join David Fondrie and Will Nasgovitz as a co-manager on the fund

2/15

HDPBX

Hodges Blue Chip 25 Fund

Don Hodges has passed away at the age of 80

Gary Bradshaw, Craig Hodges, and Eric Marshall remain

2/15

HDPEX

Hodges Equity Income Fund

Don Hodges has passed away at the age of 80

Gary Bradshaw, Craig Hodges, and Eric Marshall remain

2/15

HDPMX

Hodges Fund

Don Hodges has passed away at the age of 80

Eric Marshall will join Craig Hodges as co-portfolio manager to the fund

2/15

HDPCX

Hodges Pure Contrarian Fund

Don Hodges has passed away at the age of 80

Gary Bradshaw, Craig Hodges, and Eric Marshall remain

2/15

HDPSX

Hodges Small Cap Fund

Don Hodges has passed away at the age of 80

Craig Hodges, Gary Bradshaw, and Eric Marshall remain

2/15

HDSVX

Hodges Small Intrinsic Value Fund

Craig Hodges is no longer listed as a portfolio manager.

Gary Bradshaw, Eric Marshall, Derek Maupin, and Chris Terry remain

2/15

HDSMX

Hodges Small-Mid Cap Fund

Don Hodges has passed away at the age of 80

Gary Bradshaw, Craig Hodges, and Eric Marshall remain

2/15

INHAX

Inflation Hedges Strategy Fund

Jeffrey Heuer and Lindsay Politi are out, and Wellington Management Company will no longer be a subadvisor to the fund.

The rest of the extensive team remains.

2/15

INHAX

Inflation Hedges Strategy Fund

Alec Petro passed away on December 21, 2014

The rest of the team remains.

2/15

JVTAX

Janus Venture Fund

Maneesh Modi is no longer listed on the fund

Jonathan Coleman remains as the sole portfolio manager

2/15

OWLSX

Old Westbury Large Cap Strategies Fund

No one, but . . .

Harding Loevner has been added as a subadvisor to the fund, and is responsible for day-to-day management. Consequently, Rusty Johnson, Craig Shaw, Pradipta Chakrabortty, Scott Crawshaw and Richard Schmidt have been added to the management team. Messrs. Johnson and Shaw will be co-lead portfolio managers.

2/15

PBAAX

PNC Balanced Allocation Fund

Andrew Harding is no longer listed as a portfolio manager

Sean Rhoderick will take over Mr. Harding’s portfolio management responsibilities.

2/15

RHFRX

Royce Heritage Fund

No one, but . . .

Steven McBoyle becomes the fund’s lead portfolio manager. Charles Royce and James Harvey continue to manage the fund with him.

2/15

RINSX

Russell International Developed Markets Fund

James Carpenter and Philip Hoffman are no longer listed as portfolio managers

Jon Eggins is now the portfolio manager

2/15

RTIYX

Russell Select International Equity Fund

James Carpenter and Philip Hoffman are no longer listed as portfolio managers

Jon Eggins is now the portfolio manager

2/15

SNAEX

Shroder North American Equity Fund

Liane Evans has resigned from the fund.

The rest of the team, Stuart Adrian, Stephen Langford, Ben Corris, James Larkman, and Jason Abercrombie, remain.

2/15

THDAX

Thornburg Developing World Fund

Lewis Kaufman, the fund’s star manager, has decamped for the opportunity to manage a new Artisan fund.

Ben Kirby and Charles Wilson are the new portfolio managers

2/15

TSCGX

Touchstone Capital Growth Fund

Ashfield Capital Partners is out as a subadvisor to the fund. As a result, Gregory Jones, Peter Johnson, J. Stephen Lauck, and Marc Lieberman are no longer listed as portfolio managers.

Russell Implementation Services will act as an interim advisor until The London Company comes on board at the end of April. William Hollister will serve as the portfolio manager until that time.

2/15

IHIYX

Transamerica High Yield Bond Fund

Bradley Beman is no longer listed as a portfolio manager

Kevin Bakker and James Schaeffer move up to co-lead portfolio manager positions. Benjamin Miller remains on the fund as a portfolio manager

2/15

TMSCX

Turner Medical Sciences Long/Short Fund

No one, but . . .

Robert Turner joins Michael Tung in managing the fund

2/15

TSPCX

Turner Spectrum

No one, but …

Mr. Turner has now added himself and his two sons to the management team; son Eric in mid-2014, himself and son Michael in early 2015. Not entirely clear that a $50 million fund needed three more managers but, hey, when you own the company …

 

VPDAX

Vantagepoint Diversifying Strategies Fund

No one, but . . .

Stuart Spangler was added as a portfolio manager, joining Mark Shenkman

2/15

SSVSX

Victory Special Value Fund

As part of a change in investment strategy, Gregory Ekizian is no longer listed as a portfolio manager.

Lawrence Babin, Paul Danes, Carolyn Rains, Martin Shagrin, and Thomas Uutala comprise the new management team.

2/15

NTKLX

Voya Multi-Manager International Small Cap Fund

No one, but . . .

Victory Capital Management has been added as a subadvisor to the fund.

2/15

WTEIX

Westcore Growth Fund

Ross Moscatelli is no longer a portfolio manager

Craig Juran will continue on.

2/15

WRAAX

Wilmington Multi-Manager Alternatives Fund

Loeb King Capital will no longer be a subadvisor to the fund as part of their larger withdrawal from the fund world.

Calamos Advisors, Highland Capital Management, and Highland Capital Healthcare Advisors will become new subadvisors to the fund. The list of old, new, continuing, provisional, and assistant night shift managers is extensive: 19.

2/15

ZLSCX

Ziegler Strategic Income

Sergio Castellon left in January

Brian Schuster joins Paula Horn in managing the fund.

2/15

 

Manager changes, January 2015

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

AFNAX

AAM/Bahl & Gaynor Income Growth Fund

No one, but . . .

James Russell joins  the extensive team

1/15

AFXAX

American Beacon Flexible Bond Fund

Sauimil Parikh has left the team

Marc Seidner joined the team

1/15

MMCFX

AMG Managers Emerging Opportunities Fund

Donald Longlet no longer serves as a portfolio manager

Thoman Dignard has joined the other 12 people on the team

1/15

BFSAX

BFS Equity Fund

No one, but . . .

In a slight shuffle, Keith LaRose is no longer the lead portfolio manager, but he remains a co-manager on the fund. Timothy Foster steps up to lead manager position. Thomas Sargent remains as a co-portfolio manager.

1/15

BEEAX

BlackRock Emerging Market Allocation Portfolio

David Dali is out, after only five months as a portfolio manager.

Jeff Shen and Gerardo Rodriguez carry on.

1/15

BMMAX

BlackRock Multi-Manager Alternative Strategies Fund

Loeb King Capital Management will no longer be a sub-adviser to the fund because, well, Loeb King is getting out of the business entirely.

The other sub-advisers will take over the portion of the fund formerly managed by Loeb King.

1/15

BUFHX

Buffalo High Yield Fund

No one, but . . .

Jeffrey Deardorff has joined Paul Dlugosch, Alexander Hancock, and Jeffrey Sitzmann in managing the fund

1/15

BUFSX

Buffalo Small Cap Fund

John Bichelmeyer no longer serves as a portfolio manager

Jamie Cuellar has joined the team of Kent Gasaway and Robert Male to manage the fund.

1/15

MLOAX

Cohen & Steers Mlp & Energy Opportunity Fund

No one, but . . .

Robert Becker and Benjamin Morton are joined by Tyler Rosenlicht

1/15

NMGIX

Columbia Marsico Growth Fund

No one, but . . .

Kevin Boone joins Coralie Witter and Thomas Marsico on the fund management team.

1/15

CGOAX

Columbia Small Cap Growth Fund I

No one, but . . .

Daniel Cole joins Wayne Collette, Lawrence Lin, and Rahul Narang as a comanager on the fund

1/15

AAAAX

Deutsche Alternative Asset Allocation Fund

No one, but . . .

Pankah Bhatnagar and Darwei Kung are joined by John Vojticek

1/15

ETEGX

Eaton Vance Small-Cap Fund

No one, but . . .

Michael McLean and J. Griffith Noble have joined Nancy Tooke in managing the fund.

1/15

EVSEX

Eaton Vance Special Equities Fund

No one, but . . .

Michael McLean and J. Griffith Noble have joined Nancy Tooke in managing the fund.

1/15

SAOAX

Guggenheim Alpha Opportunity Fund

Michael Byrum and Ryan Harder are no longer listed as portfolio managers

Jayson Flowers, Burak Hurmeydan, Samir Sanghai, and Farhan Sharaff are now listed as portfolio managers

1/15

HACMX

Harbor Commodity Real Return Strategy Fund

No one, but . . .

Nicholas Johnson and Jeremie Banet joined Mihir Worah as portfolio managers

1/15

HARRX

Harbor Real Return Fund

No one, but . . .

Jeremie Banet joined Mihir Worah as portfolio manager

1/15

HAUBX

Harbor Unconstrained Bond Fund

Sauimil Parikh is no longer listed as a portfolio manager

Marc Seidner joined Mohsen Fahmi and Daniel Ivascyn as a portfolio manager

1/15

NWQAX

Nuveen NWQ Flexible Income Fund

Michael Carne is no longer a portfolio manager, an odd and disturbing development since he’s done a splendid job of building a distinctive, conservative little fund here.

Susi Budiman and Thomas Ray have taken over.

1/15

OAFIX

Optimum Fixed Income Fund

Sauimil Parikh is no longer listed as a portfolio manager

Jerome Schneider and Marc Seidner join the team of Christopher Testa, Steven Landis, J. David Hillmeyer, Roger Early, Wen-Dar Chen, and Paul Grillo

1/15

PXINX

Pax MSCI International ESG Index Fund

No one, but . . .

Scott LaBreche and Greg Hasevlat join Christopher Brown in managing the fund

1/15

PXHAX

PaxWorld High Yield Bond Fund

No one, but . . .

Mary Austin is joined by Kent Siefers

1/15

PCLAX

PIMCO CommoditiesPLUS® Strategy Fund

No one, but . . .

Greg Sharenow has joined Nicholas Johnson in managing the fund

1/15

PCRAX

PIMCO CommodityRealReturn Strategy Fund®

No one, but . . .

Nicholas Johnson and Jeremie Banet joined Mihir Worah as portfolio managers

1/15

PZRMX

PIMCO Inflation Response Multi-Asset Fund

No one, but . . .

Nicholas Johnson joined Mihir Worah as a portfolio manager

1/15

PIPAX

PIMCO International StocksPLUS AR Strategy

Saumil Parikh

Mohsen Fahmi and Sudi Mariappa

1/15

PRAIX

PIMCO Real Return Asset Fund 

No one, but . . .

Jeremie Banet joins Mihir Worah in managing the fund

1/15

PRTNX

PIMCO Real Return Fund

No one, but . . .

Jeremie Banet joins Mihir Worah in managing the fund

1/15

PETAX

PIMCO RealEstateRealReturn Strategy Fund

No one, but . . .

Nicholas Johnson and Jeremie Banet joined Mihir Worah as portfolio managers

1/15

PUBAX

PIMCO Unconstrained Bond Fund

Sauimil Parikh is no longer listed as a portfolio manager.

Marc Seidner joins Mohsen Fahmi and Daniel Ivascyn as a portfolio manager. I wonder what’s up with all the turnover at PIMCO?

1/15

PLBBX

Plumb Balanced Fund

Timothy O’Brien and Ken Cavalluzzo are no longer associated with the funds.

Thomas Plumb and Nathan Plumb carry on.

1/15

PLBEX

Plumb Equity Fund

Timothy O’Brien and Ken Cavalluzzo are no longer associated with the funds.

Thomas Plumb and Nathan Plumb carry on.

1/15

PMDEX

PMC Diversified Equity Fund

No one, but . . .

Janis Zvingelis joins the extensive team

1/15

PNRAX

Putnam Research Fund

Steven Curbow is no longer listed as a portfolio manager

Jacquelyne Cavanaugh and Kathryn Lakin join Neil Desai, Aaron Cooper, Walter Scully, Ferat Ongoren, and Kelsey Chen

1/15

STCIX

RidgeWorth Large Cap Growth Stock Fund

Joe Ransom is no longer listed as a portfolio manager on the fund

Christopher Guinther, Michael Sansoterra, and Sandeep Bhatia will continue on

1/15

SCGIX

RidgeWorth Small Cap Growth Stock Fund

Joe Ransom is no longer listed as a portfolio manager on the fund

Christopher Guinther, Michael Sansoterra, and Sandeep Bhatia will continue on

1/15

RSCHX

RS China Fund

No one, but . . .

Michael Ade joins Michael Reynal and Tony Chu in managing the fund.

1/15

GBEMX

RS Emerging Markets Fund

No one, but . . .

Michael Ade joins Michael Reynal in managing the fund.

1/15

RSMSX

RS Emerging Markets Small Cap Fund

No one, but . . .

Michael Ade and Peter Luo join Michael Reynal in managing the fund

1/15

TRECX

T. Rowe Price Emerging Markets Corporate Bond Fund

Michael Conelius, the lead guy on Price’s EM bond team, will step down as portfolio manager in October 2015, at which point …

Samy Muaddi takes over management of the fund.

1/15

PACEX

T. Rowe Price Emerging Markets Corporate Bond Fund Advisor

Michael Conelius phases out in October 2015

Samy Muaddi takes over management of the fund

1/15

TASVX

Target Small Capitalization Value Fund

As part of a change in strategy and policies, the existing subadvisors are out, along with Morley Campbell, Phillip Hart, Chad Fargason, Dennis Alfff, Robert Weller, Robert Bridges, and John Mowrey.

Quantitative Management Associates is the new subadvisor. The new portfolio management team consists of Stephen Courtney, Robert Leung, Mitchell Stern, and Deborah Woods.

1/15

FINEX

Templeton Foreign Smaller Companies Fund

Cynthia Sweeting and Martin Cobb, who were added on the same day in 2011 were also moved off the fund on the same day in 2015.

Manager Harlan Hodes is joined by David Tuttle, hoping to discover a way out of a four year run of regrettable performance.

1/15

HEQFX

The Henssler Equity Fund

Theodore Parrish no longer serves as a portfolio manager for the fund

Gene Henssler, Scott Keller, William Lako, and Troy Harmon remain.

1/15

VCVSX

Vanguard Convertible Securities Fund

Larry Keele, who cofounded Oaktree and has been managing the fund since 1996, retires in June.

Stuart Spangler joins the existing team of Larry Keele, Jean-Paul Nedelec, and Abe Ofer

1/15

CBEAX

Wells Fargo Advantage C&B Large Cap Value Fund

No one, but . . .

Andrew Armstrong joins the rest of the team

1/15

STYAX

Wells Fargo Advantage Income Plus Fund

No one, but . . .

Noah Wise is added as a portfolio manager. He will join Thomas Price, Michael Bray, and Janet Rilling

1/15

GVIEX

Wilmington Multi-Manager International Fund

George Chen is no longer a portfolio manager

The rest of the extensive team remains.

1/15

WMMRX

Wilmington Multi-Manager Real Assets Fund

George Chen is no longer a portfolio manager

David Stein, Thomas Seto, Todd Murphy, Thomas Pierce, Mihir Worah, Joseph Smith, T. Ritson Ferguson, and Steven Burton remain.

1/15