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.
| Fund | Out with the old | In with the new | Dt |
| BlackRock Total Return (MAHQX) | No one, but . . . | Bob Miller joins the fund’s three existing managers. | 10/11 |
| Davis Opportunity(RPEAX) | No one, but . . . | F. Jack Liebau is now listed as manager. | 10/11 |
| DWS Latin America Equity (SLANX) | Florian Tanzer leaves as co-manager. | Robert Kalin joins existing manager, Rainer Vermehren. | 10/11 |
| Fairholme (FAIRX) | Charlie Fernandez, Bruce’s cousin-in-law | Bruce Berkowitz. | 10/11 |
| Fairholme Allocation (FAAFX) | Charlie Fernandez, Bruce’s neighbor | Bruce Berkowitz. | 10/11 |
| Fairholme Focused Income (FOCIX) | Charlie Fernandez, Bruce’s president | Bruce Berkowitz. | 10/11 |
| Fidelity Equity-Income (FEQIX) | Stephen Petersen: 18 years, $8 billion and it was still a closeted index | A three-manager team of James Morrow, Adam Kramer, and Ramona Persaud, with Morrow as lead | 10/11 |
| Fidelity Equity-Income II (FEQTX) | Stephen Petersen: $4 billion and 2.5 years, same outcome | Scott Offen | 10/11 |
| Fidelity International Small Cap (FISMX) | Noriko Takahashi | Nicholas Price, manager of Fido Japan Smaller Companies, will handle the fund’s investments in Japan. | 10/11 |
| Goldman Sachs Capital Growth (GSCGX), Concentrated Growth, Flexible Cap Growth and Strategic Growth Fund | David Shell is retiring at the end of the year, after managing $21 billion poorly | Current portfolio managers from the GSAM growth team. | 10/11 |
| Goldman Sachs Capital Growth (GSCGX) | Kumar Venkateswaran | Current portfolio managers from the GSAM growth team. | 10/11 |
| Invesco Global Equity (GTNDX) | Ralph Coutant | Michael Abata joins the existing management team. | 10/11 |
| Invesco Structured Core(SCAUX) | Ralph Coutant | Michael Abata joins the existing management team. | 10/11 |
| Mainstay Global High Income (MGHAX) | Howard Booth leaves as co-manager. | New co-manager Jakob Bak joins the fund’s three remaining managers. | 10/11 |
| MassMutual Premiere Diversified Bond (MDVAX) | Jill Fields left as co-manager. | Sean Feeley, a member of subadvisor Babson Capital’s high-yield team, was named as a new co-manager. | 10/11 |
| Old Mutual Barrow Hanley Value(OAFOX) | No one, but . . . | Current manager, James Barrow, is joined by co-managers Robert Chambers, Timothy Culler, Mark Giambrone, and J. Ray Nixon Jr. | 10/11 |
| Old Mutual Large Cap Growth (OLGBX) | Bradley Fretz leaves as co-manager. | The rest of the management team remains in place | 10/11 |
| Steward Select Bond (SEAKX) | Howard Potter leaves as co-manager. | Edward Jaroski will join as co-manager with Claude Cody | 10/11 |
| T. Rowe Price Africa & Middle East (TRAMX) | Chris Alderson, who was temporarily managing after the abrupt departure of Joseph Rohm, mid-2011. | Oliver Bell, formerly of Pictet Asset Management | 10/11 |
