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 |
| PCDFX | Aberdeen Core Fixed Income | J. Christopher Gagnier, Oliver Boulind and Timothy Vile have stepped down | Existing comanagers, Stephen Cianci and Neil Moriarty will be joined by Michael Degernes, Edward Grant, and Charles Tan. | 11/12 |
| AUDIX | Aberdeen Ultra-Short Duration Bond | Oliver Boulind and Neil Moriarty have stepped down | The rest of the team remains. | 11/12 |
| AIFLX | American Independence Large Cap Growth | Robert S. Natale | John Christopher Jacobs | 11/12 |
| AIFSX | American Independence Small Cap Growth | Robert S. Natale | John Christopher Jacobs | 11/12 |
| MDFGX | BlackRock Capital Appreciation | Jeff Lindsey | Lawrence Kemp | 11/12 |
| MAFOX | BlackRock Focus Growth | Jeff Lindsey | Lawrence Kemp | 11/12 |
| BLDAX | BlackRock Low Duration Bond | Comanager Stuart Spodek | Scott MacLellan joins as a new comanager with Tom Musmanno, who remains. | 11/12 |
| DEQAX | Dreyfus Global Equity Income | No one, but . . . | Nick Clay joined James Harries as a comanager | 11/12 |
| SNIEX | Dreyfus/Newton International Equity | No one, but . . . | Jeff Munroe joined Paul Markham as a comanager | 11/12 |
| EAGMX | Eaton Vance Global Macro Absolute Return | Mark Venezia will retire | The other managers remain. | 11/12 |
| FTEAX | Forward Tactical Enhanced | Christopher J. Guptill, an outsider who was doing a singularly fine job. | Jim O’Donnell and Jim Welsh take over as part of an “in-housing” trend at Forward | 11/12 |
| GALLX | Goldman Sachs Flexible Cap Growth | No one, but . . . | Warren Fisher was added as a comanager | 11/12 |
| IMOIX | ING Growth and Income Core Portfolio (formerly, ING Thornburg Value Portfolio) | Connor Browne and Edward Maran, as subadvisor Thornburg Investment Management was terminated. | Christopher F. Corapi and Michael Pytosh of subadvisor, ING Investment Management | 11/12 |
| JMIGX | Jacob Micro Cap Growth | Jamie Cuellar | Ryan Jacob, who bought the former Pinebridge Micro Cap fund in July and has installed himself as manager | 11/12 |
| PBSBX | Jacob Small Cap Growth | Jamie Cuellar | Ryan Jacob, same story as with Micro Cap: bought the fund, hired himself, didn’t lower the 3.4% expense ratio. | 11/12 |
| PZFVX | John Hancock Classic Value | No one, but . . . | Ben Silver has joined as the fourth comanager. | 11/12 |
| LGILX | Laudus Growth Investor US Large Cap Growth | Lawrence Kemp has retired from UBS, the subadvisor. | He’s being replaced by a team of three, Paul Graham, Sam Console, and Peter Bye. | 11/12 |
| MFDAX | Managers Fixed Income | Subadvisor Loomis Sayles is out, along with Dan Fuss. Fuss is splendid and quite elderly and his heir apparent jumped ship so … | Gannett Welsh & Kotler, LLC, is in, with Mary Kane as portfolio manager. | 11/12 |
| NCBIX | New Covenant Balanced Income | John J. McCue | Derek Papastrat | 11/12 |
| NSAGX | Nuveen Santa Barbara Growth | James Boothe | Robert C. Doll Jr. | 11/12 |
| OPMSX | Oppenheimer Main Street Small- & Mid-Cap | No one, but . . . | Raymond Anello is now lead manager, and Joy Budzinski, Kristin Ketner Pak, Magnus Krantz, and Adam Weine were added as comanagers. | 11/12 |
| PIGFX | Pioneer Fundamental Growth | Timothy Mulrenan | Paul Cloonan | 11/12 |
| PINDX | Pioneer Independence | Timothy Mulrenan | Andrew Acheson continues alone. | 11/12 |
| PRIAX | Principal International Emerging Markets | Michael Ade and Michael Reynal | Mohammed Zaidi will join Mihail Dobrinov as a manager | 11/12 |
| PPGAX | Putnam Global Sector | No one, but . . . | Isabel Buccellati joins the team, now numbering 14 | 11/12 |
| PRFRX | T. Rowe Price Floating Rate | Justin Gerbereux has stepped down | Comanager Paul Massaro remains as the sole manager. | 11/12 |
| RPIFX | T. Rowe Price Institutional Floating Rate | Justin Gerbereux has stepped down | Comanager Paul Massaro remains as the sole manager. | 11/12 |
| TGGEX | TCW Growth Equities | Husam Nazer and Brendt Stallings will be out by the end of the year | Mike Olson and Chang Lee will assume the duties | 11/12 |
| TGSCX | TCW Small Cap Growth | Husam Nazer and Brendt Stallings, who managed a high volatility/low returns style, will be out by the end of the year | Mike Olson and Chang Lee will assume the duties | 11/12 |
| TGSDX | TCW SMID Cap Growth | Husam Nazer and Brendt Stallings will be out by the end of the year | Mike Olson and Chang Lee will assume the duties | 11/12 |
| USGRX | USAA Growth & Income | Subadvisors Loomis Sayles and UBS Global Asset Management. | An in-house team, John Toohey and Wasif Latif, join the other subadvisors. | 11/12 |
| USISX | USAA Income Stock | No one, but . . . | They’re adding an internal team to comanage a portion of the fund. The internal team consists of Wasif Latif, John Toohey, Julianne Bass, and Steve Klaffke. The existing subadvisors will remain. | 11/12 |
