Manager changes, June 2012

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
ALOPX Allianz AGIC International Growth Opportunities Subadvisor, Allianz Global Investors Capital Management RCM Capital Management, with Andrew Neville as lead manager, assisted by Dennis Lai and Koji Nakatsuka 6/12
SSGRX BlackRock Energy & Resources Dan Rice is leaving under a dark cloud. Comanager, Denis Walsh, will take over with help from Dan Neumann. 6/12
BROAX BlackRock Global Opportunities Michael Carey was ousted Comanagers, Thomas Callan and Ian Jamieson, will stay. They will be joined by Nigel Hart. 6/12
BREAX BlackRock International Opportunities Michael Carey is out as comanager Comanagers, Thomas Callan and Ian Jamieson, will stay. They will be joined by Nigel Hart. 6/12
MDLRX BlackRock Large Cap Core Robert Doll is retiring, an announcement oddly coincident with a scandal.. CIO Christopher Leavy, will take on management duties as well. 6/12
BALPX BlackRock Large Cap Core Plus Robert Doll is retiring. CIO Christopher Leavy, will take on management duties as well. 6/12
MDLHX BlackRock Large Cap Growth Robert Doll is retiring. CIO Christopher Leavy, will take on management duties as well. 6/12
MDLVX BlackRock Large Cap Value Robert Doll is retiring. CIO Christopher Leavy, will take on management duties as well. 6/12
HRCVX Eagle Growth & Income No one, but . . . David Powers joins as a fourth portfolio manager 6/12
EVIBX Eaton Vance Income Fund of Boston Tom Huggins is no longer manager of several Eaton Vance funds. Michael Weilheimer will continue 6/12
KAUAX Federated Kaufmann Jonathan Gold Tom Brakel joins the team which includes Hans und Franz, managers since 1986.  The fund really is a shadow of its former self – bloated, overpriced, underperforming 6/12
FKASX Federated Kaufmann Small Cap No one, but . . . Tom Brakel joins the team. 6/12
FSDIX Fidelity Strategic Dividend & Income Chris Sharpe, who will be concentrating on the firm’s target-date lineups Current comanager, Joanna Bewick, will take the lead role, joined by Ford O’Neil, who heads up  Fidelity Total Bond (FTBFX) 6/12
FSICX Fidelity Strategic Income Chris Sharpe, who will be concentrating on the firm’s target-date lineups Current comanager, Joanna Bewick, will take the lead role, joined by Ford O’Neil, who heads up  Fidelity Total Bond (FTBFX) 6/12
FSRRX Fidelity Strategic Real Return Chris Sharpe Current comanager, Joanna Bewick, will take the lead role, joined by Ford O’Neil, who heads up  Fidelity Total Bond (FTBFX) 6/12
FTBFX Fidelity Total Bond No one, but . . . Jeff Moore will join Ford O’Neil as a comanager, as O’Neil steps up at several other Fidelity funds. 6/12
IFCAX ING Greater China Michael Chiu and Bratin Sanyal William Pang and Guy Uding, who joined earlier this year, will continue. 6/12
LETRX ING Russia Remco Vergeer Nathan Griffiths joins Angus Alexander Roberton 6/12
ASMMX Invesco Summit No one, but . . . Erik Voss will join the team of this endlessly mediocre offering 6/12
IVBAX Ivy International Balanced No one, but . . . W. Jeffrey Surles joins lead manager John Maxwell. 6/12
LZISX Lazard International Small Cap Equity Brian Pessin The rest of the team continues. 6/12
LISIX Lazard International Strategic Equity Brian Pessin The rest of the team continues. 6/12
SPAAX Legg Mason Capital Management All Cap Bill Miller is stepping down, in preparation for his retirement. He recently stepped down from managing Legg Mason Capital Management Value (LMVTX) as well. Jay Leopold will continue on. 6/12
LRRAX Legg Mason Strategic Real Return Andrew Purdy Patricia Duffy 6/12
LCFIX Lord Abbett California Tax Free No one, but . . . Paul Langlois joins existing comanager, Daniel Solender. 6/12
MGEMX Morgan Stanley Institutional Emerging Markets Comanager James Cheng is planning an end-of-year retirement Munib Madni and Samuel Rhee have joined the team 6/12
NMIEX Northern Multi-Manager International Equity Tradewinds Global Investors is no longer a subadvisor. Tradewinds has been removed as subadvisor on several funds after David Iben announced his departure. EARNEST Partners will be added as a subadvisor 6/12
GRAAX Pioneer Ibbotson Growth Allocation fund Peng Chen resigned as president of Ibbotson and is no longer listed as manager on Pioneer Ibbotson Asset Allocation series. Paul Arnold joins comanagers Scott Wentsel and Brian Huckstep. 6/12
PGEAX Putnam Global Energy Jessica Wirth Greg Kelly will join current comanager, Steve Curbow 6/12
PGTAX Putnam Global Technology George Gianarikas has left the firm. Brian Hertzog 6/12
PUGIX Putnam Global Utilities George Gianarikas has left the firm. Sheba Alexander 6/12
TFEQX Templeton Institutional Foreign Equity Series Gary Motyl, a key manager and CIO of Templeton, died last week. The rest of the team continues on. 6/12
SASPX Wells Fargo Advantage Asia Pacific No one, but . . . Alison Shimada joins Anthony Cragg as comanager 6/12
SCSAX Wells Fargo Advantage Common Stock No one, but . . . Thomas Wooden joins the team of Ann Miletti and Marina Carlson. 6/12
EKGAX Wells Fargo Advantage Global Opportunities No one, but . . . Oleg Makhorine has been added as a comanager 6/12
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About Chip

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