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 |
| AllianceBernstein Global Real Estate Investment (AREAX). | No one, but . . . | Eric Franco, a current manager at International Value will assume the lead role. | 2/12 |
| AllianceBernstein Global Value (ABAGX) | No one, but . . . | Avi Lavi and Takeo Aso have joined the team. | 2/12 |
| AllianceBernstein Greater China (GCHAX) | Richard Chow | Jean Van De Walle | 2/12 |
| AllianceBernstein International Value (ABIAX) | No one, but . . . | Two managers have been added to the team | 2/12 |
| AllianceBernstein Large Cap Growth (APGAX) | Manager Scott Wallace and his team. This is the fifth change since 2003. | Frank Caruso | 2/12 |
| American Century Mid Cap Value (ACLAX) | No one but . . . | Brian Woglom joins the team as a portfolio manager. | 2/12 |
| Artisan International Small Cap (ARTJX) | No one, but … | Charles-Henri Hamker has been named comanager with Mark Yockey who’s run the fund since inception in 2001 | 2/12 |
| Artisan International (ARTIX) | No one, but … | Charles-Henri Hamker and Andrew Euretig have been named associate managers, with Mark Yockey who’s run the fund since inception in 1995 | 2/12 |
| Artisan Mid Cap Value(ARTQX), Artisan Small Cap Value (ARTVX), and Artisan Value (ARTLX) | No one, but . . . | Daniel Kane has been named associate manager with the winning team of Scott Satterwhite, Jim Keiffer, and George Sertl | 2/12 |
| Aston/Crosswind Small Cap Growth (ACWDX) | Subadvisor, Crosswind Investments, is out as Aston follows manager, Andrew Morey, to . . . | . . . new subadvisor, Lee Munder Capital Group. | 2/12 |
| Brandywine Blue (BLUEX) | John Regard | Scott Gates | 2/12 |
| Brandywine (BRWIX) – founded by Foster “just put an aspirin between your knees” Freiss | John Regard | Scott Gates | 2/12 |
| CSC Small Cap Value (CSCSX) | No one, but . . . | Cove Street Capital is now advisor rather than sub-advisor | 2/12 |
| Dreyfus Intermediate Municipal Bond (DITEX) | No one, but . . . | Christine Todd joins Thomas Casey and Steven Harvey as a portfolio manager | 2/12 |
| Dreyfus Municipal Bond (DRTAX) and a bunch of other Dreyfus muni funds | James Welch is stepping down as comanager. | The team remains. | 2/12 |
| Fidelity Balanced (FBALX) | George Fischer, who is taking a different position within the firm. | Pramod Atluri will lead the existing team. | 2/12 |
| Fidelity Puritan (FPURX) | George Fischer, who is taking a different position within the firm. | Pramod Atluri will lead the existing team. | 2/12 |
| Fidelity Select Banking(FSRBX), Communications Equipment (FSDCX), Air Transportation (FSAIX), Transportation (FSRFX), Defense & Aerospace (FSDAX), and Construction & Housing (FSHOX). | No one, yet, but . . . | Several analysts have been promoted to comanager roles. Hmmm. | 2/12 |
| Fidelity Stock Selector Small Cap(FDSCX) | No one, but . . . | Anmol Mehra joins the current team. | 2/12 |
| JPMorgan Asia Equity (JAEAX) | Joshua Tay and Patrick Chiu | Edward Pulling and Howard Wang join as managing directors. Pauline Ng remains. | 2/12 |
| Legg Mason BW Absolute Return Opportunities (LROAX) | No one but . . . | Brian Hess joined the management team | 2/12 |
| Legg Mason BW Global Bond Opportunities (GOBAX) | No one but . . . | Brian Hess joined the management team | 2/12 |
| Legg Mason BW International Opportunities Bond(LMOTX) | No one but . . . | Brian Hess joined the management team | 2/12 |
| Lord Abbett Emerging Markets Currency (LDMAX) | No one, but . . . | David Ritt joins Leah Traub as comanager | 2/12 |
| Meridian Equity Income (MEIFX) | Founder, Richard F. Aster, passed away. | James England, manager of Meridian Value (MVALX), will join comanager, James O’Connor. | 2/12 |
| Meridian Growth (MERDX) | Founder, Richard F. Aster, passed away. | James England, manager of Meridian Value (MVALX), will join current comanager, William Tao. | 2/12 |
| Northern Multi-Manager International Equity (NMIEX) | No one, but . . . | They added Northern Cross as a subadvisor | 2/12 |
| PACE Alternative Strategies Investments (PASIX) | Goldman Sachs is no longer an advisor. | Four other sub- advisors remain but given the fund’s tepid performance … | 2/12 |
| Pioneer Research (PATMX) | Kim Galle | The rest of the team remains. | 2/12 |
| Schwab Global Real Estate(SWASX) | Dionisio Meneses Jr. | Paul Alan Davis | 2/12 |
| Third Avenue Value (TAVFX) | Marty Whitman will leave after managing the fund since he launched over 20 years ago. | Ian Lapey, comanager since 2009, will take the lead. | 2/12 |
| Thornburg Core Growth(THCGX ) | Alex Motola, a very talented manager who’s retiring in 2012. | Tim Cunningham and Greg Dunn, currently associate portfolio managers, will take over | 2/12 |
| Thornburg International Growth (TIGAX) | Alex Motola, who has managed this fund since inception, is retiring this year. | Tim Cunningham and Greg Dunn, currently associate portfolio managers, will work with Motola for a few months more and then take over | 2/12 |
| Vanguard Equity-Income (VEIPX) | No one, but . . . | James Troyer and Michael Roach, both long time employees, join James Stetler and Michael Reckmeyer. | 2/12 |
| Vantagepoint Equity Income (VPEIX) | Mark Giambrone, of Barrow, Hanley, Mewhinney & Strauss, is no longer running a portion of the fund’s assets. | The rest of the team – folks from T Rowe Price and Longleaf – remains. | 2/12 |
| Vantagepoint Growth (VPGRX) | All three subadvisors were fired : Legg Mason, Tukman Grossman, and D.G. Capital Management. | Atlanta Capital Management and Victory Capital Management. Given that the fund has sucked for years, shareholders are not likely to be worse off. | 2/12 |
| Virtus Balanced Allocation (HIBZX) | Carol Lyons and Maureen Svagera | Daniela Mardarovici and Peter Arts join Daniel Sido and Thomas Lettenberger as portfolio managers | 2/12 |
| Wells Fargo Advantage Diversified International (SILAX) | Francis X. Claro | Jeff Everett, of the recently purchased EverKey Global Partners joins as a comanager as does Dale Winner. | 2/12 |
| Wells Fargo Advantage International Equity (WFEAX) | Francis X. Claro | Jeff Everett, of the recently purchased EverKey Global Partners, joins as a comanager as does Dale Winner. | 2/12 |
| Winslow Green Growth(WGGFX) | Elizabeth Levy left | Karina Funk and David Powell remain. | 2/12 |
