| Fund |
Out with the old |
In with the new |
Date |
| Absolute Opportunities (AOFOX) |
No one’s out |
Pine Cobble Capital joins five other institutional firms sub-advising the fund. |
07/11 |
| Alger Health Sciences (AHSAX) |
David Farhadi |
Dan Chung and Maria Liotta. Chung, Alger’s CIO/CEO, has helped run the fund since 2005 |
05/11 |
| Allianz RCM Disciplined International Equity (RAIGX). |
Ara Jelalian |
Steven Berexa |
08/11 |
| Allianz RCM Global Commodity Equity (ARMAX), formerly Allianz RCM Global Resources |
No one, but . . . |
Alec Patterson joined the management team and now co-manages with Paul Strand |
09/11 |
| Alpine Cyclical Advantage Property Fund (EUEYX) |
No one’s out . . . |
David Kruth, who has experience as a Goldman Sachs global real estate manager, joins as an “associate manager” |
04/11 |
| Alpine Dynamic Dividend (ADVDX) |
Andrew Kohl |
The rest of the portfolio team (Jill Evans, Kevin Shacknofsky, Joshua Duitz) is joined byBrian Hennessey. |
04/11 |
| Altegris Managed Futures Strategy (MFTAX) |
Rodney Square Management |
Altegris Advisors is hunting for a new manager. In the interim, they’ll run the fund themselves. |
07/11 |
| American Century International Bond (BEGBX) |
No one, but . . . |
Simon Chester joined the management team |
08/11 |
| Aston/Barings International (ABIIX) |
Nathan Griffiths |
Former co-manager David Bertocchi becomes the lead manager. |
04/11 |
| Aston/Fortis Real Estate (AARIX) |
Fortis Investment Management |
Harrison Street Securities, which will occasion a renaming to Aston/Harrison |
07/11 |
| BlackRock International Bond Portfolio (BIIAX) |
Andrew Gordon, who’s been with the fund since 1997 |
Scott Thiel joins Yoni Saposh |
08/11 |
| BlackRock Science & Technology Opportunities (BGSAX) |
No one, but . . . |
Paul Ma joined the management team of Thomas Callan, Jean Rosenbaum, and Erin Xie. |
09/11 |
| BlackRock World Income Fund (MDWIX) |
Andrew Gordon, who’s been with the fund since 2006 |
Scott Thiel joins Yoni Saposh |
08/11 |
| Buffalo China (BUFCX) |
No one, but . . . |
Shelly Ma joins as a co-manager on the steadily-improving BUFCX. In the past five years it has trailed 98% of its peers, then 96%, 91%, 69% and – over the first three quarters of 2011, a breakthrough – 49%. |
09/11 |
| Buffalo High Yield (BUFHX) |
Kent Gasaway |
The rest of the management team remains in place |
09/11 |
| Buffalo International (BUFIX) |
No one, but . . . |
Shelly Ma joins as a co-manager, whose new fund is merely “consistently mediocre” rather than “eye-watering” (see Buffalo China) |
09/11 |
| Buffalo Large Cap (BUFEX) |
Grant Sarris, in part of a larger management realignment |
The rest of the management team remains in place |
09/11 |
| Calvert Bond (CSIBX) |
Gregory Habeeb |
Matt Duch |
09/11 |
| Calvert Income (CFICX) |
Gregory Habeeb |
Michael Abramo |
09/11 |
| Calvert Large Cap Growth (CLCIX) |
John Montgomery, president of Bridgeway |
A team from Atlanta Capital Management will run the fund until its merger into Calvert Equity (CSIEX), which they also run. |
05/11 |
| Calvert Social Index (CSXAX) |
Kevin Yousif |
Eric Lessnau and David Jones |
05/11 |
| Columbia Dividend Income (LBSAX) |
No one goes but . . . |
David King and Michael Barclay join Richard Dahlberg and Scott Davis |
04/11 |
| Columbia Emerging Markets Opportunity (IDEAX) |
Vanessa Donegan |
Irina Miklavchich and existing manager Rafael Polatinsky. |
05/11 |
| Columbia Global Equity (IGLGX) |
Andrew Holliman |
Esther Perkins joins current co-manager Stephen Thornber |
06/11 |
| Columbia Global Extended Alpha (RTAAX) |
Andrew Holliman |
Stephen Thornber and Jeremy Podger. |
06/11 |
| Columbia Mortgage and Asset Backed (NMTGX) |
Lee Reddin |
Michael Zazzarino, who has been co-manager of the fund since 2007, will be lead manager. |
09/11 |
| Davidson Multi-Cap Equity Fund |
William B. Whitlow is retiring |
The lead manager, Brian Clancy, remains but gains a 7th co-manager, Paul Condrat |
08/11 |
| Dreyfus Global Sustainability (DGYAX) |
|
Five new co-managers from Mellon Capital were added in mid-April. |
04/11 |
| DWS Climate Change (WRMAX) |
Nicolas Huber |
Andrew Pidden comes in, and the fund becomes DWS Clean Tech |
08/11 |
| DWS Emerging Markets Equity (SEKAX) |
Thomas Gerhardt who joined this modestly regrettable $300 million fund got canned. |
Good question. In a particularly cruel shot, DWS announced that “until May 9, 2011,” co-manager Rainer Vermehren is in charge. Vermehren joined the same day as Gerhardt and appears slated to be employed seven weeks longer. |
04/11 |
| DWS Gold & Precious Metals (SGDAX) |
Pierre Martin |
The rest of the management team remains in place |
09/11 |
| DWS International (SUIAX) |
Nikolaus Poehlmann, Andreas Wendelken, and Mark Schumann – another undistinguished team that was hired just after the Emerging Markets team. |
Jason Inzer and Thomas Voecking who, according to company documents, will sort of collate the recommendations of thousands of analysts |
04/11 |
| DWS Strategic Value (KDHAX) |
Volker Dosch, Oliver Pfeil, and Thomas Schuessler – who were undistinguished in the execution of their post. |
Jason Inzer and Thomas Voecking (see DWS International) |
04/11 |
| Eagle Growth & Income Fund (HRCVX) |
for reasons unclear (it’s been a great fund), Thornburg Investment Management has been terminated |
and an in-house team (Edmund Cowart, David Blount and John Pandtle) replaces them. They manage a billion in “other accounts” but no funds. |
04/11 |
| Federated Balanced Allocation (BAFAX) |
John Leibee |
Founding managers Hans Utsch and Lawrence Auriana, who have been here since 1986, lead a five-person management team. |
07/11 |
| Federated Capital Appreciation (FEDEX) |
Carol Miller |
James Grefenstatte joins Dean Kartsonas |
05/11 |
| Federated Capital Income (CAPAX). |
No one, but . . . |
Christopher Smith joined the management team |
08/11 |
| Federated Kaufmann (KAUAX) |
John Leibee |
Hans und Franz live on! Which is to say the founding managers, Hans Utsch and Lawrence Auriana, who have been here since 1986, continue to lead a five-person management team. |
07/11 |
| Federated Kaufmann Large Cap (KLCAX) |
John Leibee |
Founding managers Hans Utsch and Lawrence Auriana, who have been here since 1986, lead a five-person management team. |
07/11 |
| Fidelity Advisor Equity Income (FEIAX) |
Stephen Petersen |
James Morrow and Adam Kramer |
04/11 |
| Fidelity China Region (FHKCX) |
Joseph Tse, who has a great 2010 and good 2011 |
Bobby Bao, who manages some of Fidelity’s Canadian funds (AsiaStar) and portions of their Pyramis portfolios |
08/11 |
| Fidelity Commodity Strategy (FFCSX) |
Jeffrey Adams, who works for Fido’s quant Geode arm |
Bobe Simon, Lou Bottari, Patrick Waddell, Maximilian Kaufman, and Eric Matteson. |
05/11 |
| Fidelity Income Replacement and |
Jonathan Shelno |
Andrew Dierdorf and new manager Christopher Sharpe |
07/11 |
| Fidelity International Value (FIVLX) |
George Stairs, who I decried as a mediocre Putnam manager when Fidelity hired him |
Alexander Zavratsky |
09/11 |
| Fidelity Japan (FJPNX) |
Robert Rowland |
Rei Shigekawa. This change was profiled with some concern by Chuck Jaffe of CBS/Marketwatch. |
04/11 |
| Fidelity Magellan (FMAGX) |
Harry Lange, the third Fidelity superstar to flame-out here |
Jeffrey Feingold becomes the fourth Fidelity superstar to fling himself on Lynch’s Legacy |
09/11 |
| Fidelity NASDAQ Composite Index (FNCMX) |
Jeffrey Adams, another Geode guy |
Bobe Simon, Lou Bottari, Patrick Waddell, Maximilian Kaufman, and Eric Matteson. |
05/11 |
| First Eagle Gold (SGGDX) |
No one |
Chris Kwan joined Abhay Deshpande and Rachel Benepe. |
06/11 |
| First Investors Blue Chip (FIBCX) |
Matthew Wright |
Edwin Miska and Sean Reidy |
05/11 |
| Forward Emerging Markets (FEMMX) |
Nidhi Mahurkar |
Peter Jarvis. A solid fund, team run, that’s ground through 23 managers. |
05/11 |
| Forward Funds’ Forward Growth (FFGRX) |
Peter J. Niedland |
The rest of the management team remains in place |
09/11 |
| Forward Growth Fund |
Peter J. Niedland is “hereby deleted” |
Mr. Niedland was a recent addition to the portfolio team, the rest of which remains. |
08/11 |
| GAMCO Westwood Mighty Mites (WEIMX) |
No one. |
Elizabeth Lilly joins the existing team of Mario Gabelli, Laura Linehan, Walter Walsh |
07/11 |
| Generation Wave Growth (GWGFX) |
Jeffrey Middleswart |
Gerry Sullivan, who also manages the quant Industry Leaders fund (ILFIX). GS is the 10thmanager in 10 years, with the changes here paralleling changes in Vice Fund |
07/11 |
| ING Equity Dividend (IEDAX) |
|
Christopher Corapi joined the management team |
05/11 |
| ING Global Bond (INGBX). |
No one, but . . . |
Robert Robis joins Michael Mata and Christine Hurtsellers. |
08/11 |
| ING Global Equity Dividend (IAGEX) |
Moudy El Khodr |
Bruno Springael will join Nicholas Simar, and Herman Klein. |
05/11 |
| ING Global Opportunities (IAFAX) |
Tjeert Keijzer and Tycho van Wijk |
Huub van der Riet and Alex van der Laan join Dirk-Jan Verzuu on this sad sack little fund. |
05/11 |
| ING Global Resources (IGRAX) |
No one, but . . . |
John Bailey became the third c0-manager |
08/11 |
| ING International Small Cap Multi-Manager (NTKLX) |
Qi Zeng |
Patrick McCafferty, who is part of the Acadian Management sleeve of the portfolio |
04/11 |
| ING International Value (NIVAX) |
Glenn Carlson, Brent Woods, Jim Brown, Amelia Morris, Brent Fredberg, Jeffrey Germain, and Paul Hechmer |
Marin Jansen, David Rabinowitz, and Joseph Vultaggio. |
05/11 |
| ING Janus Contrarian (IJCAX) |
Janus Capital Management |
ING Investment Management, though the fund will merge into ING Growth and Income in 2012. |
07/11 |
| Invesco Global (ATKAX) |
Heather Peirce |
Dana Love, her former co-manager |
04/11 |
| Invesco Global Equity (GTNDX) |
Michael Fraikin |
Ralph Coutant and Andrew Waisburd join Uwe Draeger, Karl-Georg Bayer and Jens Langewand |
05/11 |
| Invesco Global Growth (AGGAX) |
“Senior” portfolio manager Barrett Sides retires |
Sides’ three co-managers will carry on without him. It’s a mediocre, but not bad, fund. |
06/11 |
| Invesco International Growth (AIIEX) |
“Senior” portfolio manager Barrett Sides is retiring |
but won’t be missed enough to be replaced. It’s a very solid fund with a well-established team. This is the 8th Invesco fund to see a manager change since May 2011. |
06/11 |
| Invesco Leisure (ILSAX) |
Jonathan Mueller |
Ido Cohen and existing manager Juan Hartsfield. |
05/11 |
| Invesco Select Real Estate Income (ASRAX) |
James Trowbridge |
Joe Rodriguez, Jr., Mark Blackburn, Paul Curbo, and Darin Turner. |
05/11 |
| Invesco Small Companies (ATIAX) |
Ted Chisholm |
Robert Mikalachki, Virginia Au and Jason Whiting |
04/11 |
| Invesco Structured Core (SCAUX) |
Anthony Shufflebotham |
Daniel Tsai and Andrew Waisburd get added to the existing team |
05/11 |
| Janus Contrarian (JACNX) |
David Decker who has run the fund since ’96. Very independent portfolio, very high volatility. |
Dan Kozlowski. DK left Janus to run a hedge fund. Apparently part of the deal to secure his return was having Janus become a partner in his hedge fund. |
05/11 |
| Janus Fund (JANSX) |
Daniel Riff leaves to become sole manager of Janus Long/Short |
Burt Wilson, who has been with Janus for six years, joins Jonathan Coleman who has co-managed the fund since 2007 |
05/11 |
| Janus Global Bond (JGBAX) |
No one but. . . |
Chris Diaz was added as a third manager |
05/11 |
| Janus Global Technology (JAGTX) |
Barney Wilson |
Brad Slingerland, who ran the fund with Wilson in 2006-08. He’ll Tweet for you as bradsling. |
05/11 |
| Janus Long-Short (JALSX) |
David Decker whose record is low correlation, high risk, modest returns |
Daniel Riff, who has been comanaging the fund, will become the sole manager |
05/11 |
| John Hancock Greater China Opportunities (JCOAX) |
No one is going but |
Kai Kong Chay joined the management team of Terrance Pak Hing Chum, and Ronald Chan. |
05/11 |
| JPMorgan Asia Equity (JAEAX |
Andrew Swan |
Joshua Tay, Pauline Ng, and new manager Patrick Chiu. |
05/11 |
| JPMorgan Asia Equity (JAEAX) |
No one, but . . . |
Patrick Chiu joined the management team |
08/11 |
| JPMorgan Multi-Sector Income (JSIAX) |
Jon Jonsson |
The rest of the portfolio team (Robert Michele and Iain Stealey) are joined by Nicholas Gartside and Matthew Pallai. |
04/11 |
| Legg Mason Capital Management All Cap Fund (SPAAX) |
David Nelson |
Jay Leopold and Bill Miller remain at this overpriced underperformer. |
04/11 |
| Loomis Sayles Global Equity and Income (LGMAX) |
Mark Baribeau |
Daniel Fuss, David Rolley, and Warren Koontz |
05/11 |
| Loomis Sayles Small Cap Value (LSCRX) |
Daniel Thelen |
Joseph Gatz |
05/11 |
| Lord Abbott allocation funds, generally |
A committee |
The Chairman. Robert Gerber is now the solo manager, in place of a management committee which he formerly chaired. |
08/11 |
| MainStay International Equity (MSEAX) |
Rupal Bhansali |
Edward Ramos |
06/11 |
| Managers AMG FQ Tax-Managed U.S. Equity (MFQAX) |
Andrew Berkin |
David Chrisman |
06/11 |
| Managers AMG FQ U.S. Equity (FQUAX) |
Andrew Berkin |
David Chrisman |
06/11 |
| Managers Cadence Capital Appreciation |
No one, but . . . |
Robert Ginsberg, formerly of Invesco and Putnam, joined the management team |
08/11 |
| Managers Cadence Emerging Companies |
No one, but . . . |
Robert Ginsberg joined the management team |
08/11 |
| Managers Cadence Focused Growth |
No one, but . . . |
Robert Ginsberg joined the management team |
08/11 |
| Managers Cadence Mid-Cap |
No one, but . . . |
Robert Ginsberg joined the management team |
08/11 |
| Marshall Mid-Cap Value (MRVIX) |
No one goes but . . . |
Gregory Dirkse and Brian Janowski join Matthew Fahey in running the fund. |
04/11 |
| Marsico 21st Century (MXXIX) |
Cory Gilchrist, who was very optimistic about an economic turnaround |
Brandon Geisler, who isn’t. |
09/11 |
| Marsico Global (MGLBX), |
Cory Gilchrist |
James Gendelman and Tom Marsico |
09/11 |
| MassMutual Select Diversified International (MMZAX) |
AllianceBernstein |
Gerd Woort-Menker, Jeroen Huysinga, and Georgina Perceval Maxwell of JP Morgan |
06/11 |
| MassMutual Select Overseas (MOSAX) |
AllianceBernstein |
Gerd Woort-Menker, Jeroen Huysinga, and Georgina Perceval Maxwell of JP Morgan will join teams from Harris Associates and MFS. |
06/11 |
| MFS International Growth (MGRAX) |
No one |
In January 2012, Kevin Dwan joins David Antonelli. No explanation for the unusually long lead time. |
07/11 |
| Morgan Stanley Global Strategist (SRTAX) |
No one |
Cyril Moullé-Berteaux joins Mark Bavoso |
07/11 |
| Morgan Stanley Institutional Balanced (MPBAX) |
No one |
Cyril Moullé-Berteaux joins Mark Bavoso |
07/11 |
| Nationwide International Value (NWVAX) |
AllianceBernstein |
UBS Global Asset Management |
06/11 |
| Nuveen Strategy Balanced Allocation (FSGNX), |
No one, but . . . |
James Colon joins existing manager David Cline |
06/11 |
| Nuveen Strategy Conservative Allocation (FSFIX) |
No one, but . . . |
James Colon joins existing manager David Cline |
06/11 |
| Nuveen Strategy Growth Allocation (FAGSX) |
No one, but . . . |
James Colon joins existing manager David Cline |
06/11 |
| Oakmark International Small Cap (OAKEX) |
No one’s leaving |
Michael Manelli, an international equities analyst, joined David Herro who has managed the fund since inception. Herro manages three funds and serves as CIO, so this might simply be stress relief. |
05/11 |
| Old Mutual TS&W Mid-Cap Value (OTMAX) |
John Pickler |
Brett Hawkins |
06/11 |
| Oppenheimer Main Street Small & Mid Cap (OPMSX) |
Benjamin Ram |
Raymond Anello joins Matthew Ziehl and Raman Vardharaj |
05/11 |
| Penn Series Small Cap Value |
James B. Otness is being phased out by 12/31/11 |
The rest of the team is going to work just a bit harder. |
08/11 |
| PIMCO Emerging Markets Bond (PAEMX) |
No one, but . . . |
Ramin Toloui will be joined by Michael Gomez |
09/11 |
| PIMCO Global Advantage Strategy (PGSAX) |
No one, but . . . |
Andrew Balls was added as co-manager |
09/11 |
| Principal SmallCap Blend (PLLAX), |
Thomas Morabito |
Brian Pattinson will also join the management team |
08/11 |
| Principal SmallCap Growth (PMAAX). |
Thomas Morabito |
Brian Pattinson will also join the management team |
08/11 |
| Principal SmallCap Value (PSUAX), |
Thomas Morabito |
Phil Nordhus and Brian Pattinson |
08/11 |
| Quant Small Cap (QBNAX) |
Matt Williams |
Robert von Pentz and Rhys Williams |
04/11 |
| Rochdale Fixed Income Opportunities (RIMOX) |
|
Stefan Pinter, Theodore Stohner, and Maxim Matveev of GML Capital have been added to the teams managing the fund. The other teams are from Seix Investment Advisers and Federated. |
06/11 |
| RS Small Cap Growth (RSEGX) |
Allison Thacker, one of four co-managers |
Three co-managers remain. Ms. Thacker is leaving to manage Rice University’s $4 billon endowment. |
09/11 |
| RS Technology (RSIFX) |
Allison Thacker |
Three comanagers remain. Ms. Thacker is leaving to manage Rice University’s $4 billon endowment. |
08/11 |
| Russell Emerging Markets (REMAX) |
T. Rowe Price |
Delaware Management Company and Victoria 1522 Investments join five other institutional teams already on the fund |
05/11 |
| Russell Tax-Managed US Large Cap (RTLAX) |
Turner Investment Partners (to whom this happens a lot) |
Sustainable Growth Advisers, which joins four other institutional teams on the fund |
05/11 |
| Russell US Quantitative Equity (REQAX) |
No one . . . |
Russell decided that four sub-advisers weren’t enough, so they added PanAgora Asset Management |
05/11 |
| Russell US Small & Mid Cap (REBSX) |
Robert Kuharic |
Jon Eggins |
05/11 |
| Schwab Core Equity (SWANX) |
Vivienne Hsu |
The rest of the management team remains in place |
09/11 |
| Schwab Dividend Equity (SWDSX) |
Vivienne Hsu |
The rest of the management team remains in place |
09/11 |
| Schwab Premier Equity (SWPSX) |
Vivienne Hsu, who also chips in on several other “active equity” funds |
No one yet named, presumably her co-managers will become lead managers |
08/11 |
| Sentinel Mid Cap Value (SYVIX) |
Steinberg Asset Management |
Effective 08/11, Crow Point Partners – run by some former Evergreen managers – takes over |
06/11 |
| Sentinel Mid Cap Value (SYVIX) |
Steinberg Asset Management |
Peter DeCaprio and Timothy O’Brien of Crow Point Partners |
08/11 |
| SSgA Emerging Markets (SEMSX) |
Brad Aham, but just until Christmas |
Co-manager Chris Laine will manage the fund during Brad’s leave of absence. |
09/11 |
| T. Rowe Price Africa & Middle East (TRAMX) |
Joseph Rohm, who left suddenly for South Africa |
Chris Alderson. |
07/11 |
| T. Rowe Price Retirement funds |
Ned Notzon, long-time lead of Price’s allocation funds, steps down as “co-chairman” of these funds ahead of his year-end retirement. |
Jerome Clark became the “sole chairman” of the fund on 8/1/11 |
07/11 |
| TIAA-CREF Bond (TIBDX). |
Elizabeth Black and Steven Sterman |
John Cerra remains and is joined by Steven Raab and Joseph Higgins |
08/11 |
| TIAA-CREF Enhanced International Equity Index (TFIIX). |
Ping Wang goes |
Current co-managers Steve Rossiello and Pablo Mitchell will soldier on without him. |
06/11 |
| TIAA-CREF Enhanced Large-Cap Growth Index (TLIIX) |
Ruxiang Qian |
Comanager Kevin Zhang goes solo. |
06/11 |
| Vice Fund (VICEX) |
Jeffrey Middleswart |
Gerry Sullivan, who also manages the quant Industry Leaders fund (ILFIX). GS becomes the fund’s 7th manager in nine years. |
07/11 |
| Virtus Multi-Sector Fixed Income (NAMFX) |
Goodwin Capital Advisers |
The other subadvisor, Newfleet Asset Management, will take sole control. |
06/11 |
| Wasatch Global Opportunities (WAGOX) |
Robert Gardiner and Blake Walker. Gardiner also runs three small cap funds for Wasatch but his official bio lists this as “his true passion.” Oops. |
JB Taylor, who manages Wasatch Core Growth, joins Roger Edgely |
05/11 |
| Wasatch International Opportunities (WAIOX) |
Blake Walker |
Laura Geritz, who runs Wasatch Emerging Markets Small Cap, joins Roger Edgeley |
05/11 |
| Wells Fargo Advantage C&B Mid Cap Value (CBMAX) |
Kermit Eck will leave on Dec. 31, 2011 |
The rest of the management team remains in place |
09/11 |
| Wells Fargo Advantage Intrinsic Small Cap Value (WFSMX) |
Jeffrey Peck is gone… |
And apparently didn’t need to be replaced. Given the fund’s long-term weakness, the absence of a new manager suggests either that Wells Fargo is resigned or that they think Mr. Peck was the problem. Owie. |
06/11 |
| Wells Fargo Advantage Small Cap Growth (MNSCX) |
Jerome Philpott and Stuart Roberts |
Joseph Eberhardy, Thomas Ognar, and Bruce Olson |
04/11 |
| Wells Fargo Advantage Small Cap Value (SSMVX) |
No one, but . . . |
Erik Astheimer and Michael Schneider were added as co-managers. |
09/11 |
| Wells Fargo Advantage Strategic Large Cap Growth (ESGAX) |
Shannon Reid, David Chow, and Jay Zelko |
Tom Ognar. I’ve always been fascinated with Ognar’s name. Sounds like a Norse hero. Managed Strong Growth for years, but should have managed one of the old PrinCor funds. You can see him stalking into the feasting hall now and announcing, “I am Ognar of Princor.” |
08/11 |
| Winslow Green Growth (WGGFX) |
Jack Robinson |
Karina Funk, Elizabeth Levy, and David Powell |
09/11 |
