Manager Changes, March 2013

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

CLSAX

AdvisorOne Amerigo

Dennis Guenther

Paula Wieck and Rusty Vanneman

3/13

CLERX

AdvisorOne Clermont

Dennis Guenther

Paula Wieck and Rusty Vanneman

3/13

CLBLX

AdvisorOne Select Allocation

Dennis Guenther

Paula Wieck, Marc Pfeffer, and Jennifer Schenkelberg

3/13

ALGAX 

Alger Large Cap Growth

Dan Chung, as part of the rebranding of the fund as International Growth

As of May 31st, Pedro Marcal will be the portfolio manager

3/13

ADAAX

AllianceBernstein Dynamic All Market Fund

Mark Hamilton

The rest of the team remains

3/13

POPAX

AllianzGI Opportunity Fund

Michael Corelli as part of an attempt to reorient and resuscitate the fund

Mark P. Roemer and Jeff Parker who appear to be (how to put this politely?) not disastrous

3/13

MIBLX

BNY Mellon Asset Allocation Fund

Bernard Schoenfeld

Jeffrey M. Mortimer

3/13

MIINX 

BNY Mellon International Fund

No one, but . . .

Clifford A. Smith is now a primary portfolio manager

3/13

BGLAX

Brookfield Global Listed Infrastructure

No one, but . . .

Sam Arnold joins Craig Noble as comanager

3/13

BUFDX

Buffalo Dividend Focus

John Kornitzer, Buffalo’s founder, left four months after launch

Scott Moore remains and is joined by Paul Dlugosch who comanages their Flexible Income (ooo!) and High-Yield (meh) funds

3/13

BUFEX 

Buffalo Large Cap

Robert Male

Elizabeth Jones remains

3/13

CSIBX

Calvert Bond Portfolio

Michael Abramo

The rest of the team remains

3/13

CGVAX

Calvert Government Fund

Michael Abramo

The rest of the team remains

3/13

CYBAX

Calvert High Yield Bond Fund

Michael Abramo

The rest of the team remains

3/13

CFICX

Calvert Income Fund

Michael Abramo

The rest of the team remains

3/13

CLDAX

Calvert Long-Term Income Fund

Michael Abramo

The rest of the team remains

3/13

CSDAX

Calvert Short Duration Income Fund

Michael Abramo

The rest of the team remains

3/13

CULAX

Calvert Ultra-Short Income Fund

Michael Abramo

The rest of the team remains

3/13

CSVAX

Columbia Global Dividend Opportunity

Laton Spahr 

Dean Ramos joins the team of Steven Schroll and Paul Stocking

3/13

HRCPX

Eagle Capital Appreciation

Subadviser Goldman Sachs Asset Management

Subadviser ClariVest Asset Management

3/13

EASAX 

EAS Crow Point Alternatives, formerly EAS Alternatives

Emerald Asset Advisors a/k/a EAS is out

Crow Point Partners with Amit Chandra, James Hickman, Timothy O’Brien, and Peter DeCaprio

3/13

FDBAX

Federated Bond 

Joe Balestrino will leave the firm

Brian S. Ruffner

3/13

FEDEX

Federated Capital Appreciation Fund

James E. Grefenstette and Dean J. Kartsonas

Walter C. Bean, as part of a reorganization into the Federated Equity Income Fund

3/13

FIIFX

Federated Intermediate Corporate Bond

Joe Balestrino will leave the firm

Bryan J. Dingle

3/13

STIAX

Federated Strategic Income 

Joe Balestrino will leave the firm

Mark E. Durbiano

3/13

FTRBX

Federated Total Return Bond

Joe Balestrino will leave the firm

Donald T. Ellenberger

3/13

FUBDX

Federated Unconstrained Bond

Joe Balestrino will leave the firm

Ihab L. Salib

3/13

FDMAX 

Fidelity Advisor Communications Equipment Fund

Charlie Chai

The rest of the team remains

3/13

FELAX

Fidelity Advisor Electronics Fund

Christopher Lin

The rest of the team remains

3/13

FAEAX

Fidelity Advisor Europe Capital Appreciation Fund

Melissa Reilly

Risteard Hogan

3/13

FECAX

Fidelity Europe Capital Appreciation Fund

Melissa Reilly who’s had six slightly above-average years with the fund

Risteard Hogan who has managed Fidelity Europe since April 2012 and has done a much above average job there

3/13

FDEQX

Fidelity Disciplined Equity

No one, but . . .

Alex Devereaux joined as co-manager

3/13

FFRHX

Fidelity Floating Rate High Income

Christine McConnell will be retiring

Eric Mollenhauer

3/13

FGBLX

Fidelity Global Balanced

Melissa Reilly leaves the seven person team and

Risteard Hogan joins in

3/13

HEMAX

Henderson Emerging Markets Opportunities Fund

Andrew Beal

Existing managers Stephen Peak, Bill McQuaker, and Nicholas Cowley are joined by John Crawford

3/13

HEFAX

Highland Energy MLP

Mauricio Delgado

Matthew Gray and Jon Poglitsch

3/13

HCGAX

HSBC Emerging Markets Debt

Srinivas Paruchuri is no longer a portfolio manager

The rest of the team remains

3/13

HBMAX

HSBC Emerging Markets Local Debt

Srinivas Paruchuri is no longer a portfolio manager

The rest of the team remains

3/13

HOTAX

HSBC Growth

Effective July 1, 2013, R. Bartlett Wear is retiring and will focus on his charitable endeavors

Clark Winslow and Justin Kelly will continue, and be joined by Patrick Burton

3/13

OIEAX

JPMorgan International Equity Index

Nicholas D’Eramo, Bala S. Iyer, and Michael Loeffler

Beltran Lastra

3/13

OMEAX

JPMorgan Market Expansion Index

Bala S. Iyer and Michael Loeffler

Phillip Hart and Dennis Ruhl

3/13

OGNAX

JPMorgan Multi-Cap Market Neutral

Bala S. Iyer

Pavel Vaynshtok, Dennis Ruhl, and Jason Alonzo

3/13

SWMSX

Laudus Small-Cap MarketMasters Select

Neuberger Berman Management LLC  has been declared less masterful

BMO Asset Management

3/13

MLAAX

MainStay Large Cap Growth

Effective July 1, 2013, R. Bart Wear will no longer serve as a portfolio manager

Clark Winslow and Justin Kelly will be joined by Patrick Burton

3/13

MIMSX

Mellon Mid Cap Multi-Strategy

No one, but . . .

Geneva Capital Management became an additional sub-investment adviser

3/13

DIFAX

MFS Diversified Income

No one, but . . .

Ward Brown

3/13

MFIOX

MFS Strategic Income

No one, but . . .

Ward Brown

3/13

MSFRX

MFS Total Return

No one, but . . .

Jonathan Sage will be joining the portfolio management team

3/13

MMUFX

MFS Utilities

Robert Persons

Maura Shaughnessy will remain

3/13

NPWAX

Nomura Partners Global Equity Income

No one, but . . .

Emmanuel Raymond joins the team

3/13

NPQAX

Nomura Partners International Equity

Michael Russell 

Hideyuki Aoki 

3/13

NWCAX

Nuveen Winslow Large-Cap Growth

Effective July 1, 2013, R. Bart Wear will no longer serve as a portfolio manager

 Clark Winslow and Justin Kelly will be joined by Patrick Burton

3/13

CGRWX

Oppenheimer Value Fund

Mitch Williams and John Damian

Laton Spahr

3/13

PFOPX

Paradigm Opportunity

Jason V. Ronovech

Candace King Weir and Amelia Weir

3/13

PEMFX

Pioneer Emerging Markets

Sean Taylor

Mauro Ratto, Marco Mencini, and Andrea Salvatori.

3/13

GBEMX

RS Emerging Markets

Tim Campbell

Michael Reynal

3/13

BRFOX

Sentinel Growth Leaders

Kelli Hill

Jason Wulff and Hilary Roper

3/13

SNTNX

Sentinel Mid Cap

Christian Thwaites, Daniel Manion and Hilary Roper

New lead manager, Jason Ronovech, joins existing comanager Carole Hersam

3/13

SYVAX

Sentinel Mid Cap II

Christian Thwaites, Daniel Manion and Hilary Roper are leaving the soon-to-be sunk ship

New lead manager, Jason Ronovech, joins existing comanager Carole Hersam

3/13

SAGWX

Sentinel Small Company

Christian Thwaites, Daniel Manion and Hilary Roper

New lead manager, Jason Ronovech, joins existing comanager Carole Hersam

3/13

WAEGX

Sentinel Sustainable Mid Cap Opportunities Fund

Christian Thwaites, Daniel Manion and Hilary Roper

New lead manager, Jason Ronovech, joins existing comanager Carole Hersam

3/13

SSGFX 

Sextant Growth

Nicholas Kaiser, who is 66 and the undisputed Big Dog of the operation

Paul Meeks

3/13

FLAUX

Strategic Advisers Core Multi-Mgr

No one, but . . .

AllianceBernstein L.P. becomes a new subadviser on the fund.

3/13

PCGAX

Target Conservative Allocation 

Marsico Capital Management

MFS

3/13

PAMGX

Target Moderate Allocation’s 

Marsico Capital Management

Quantitative Management Associates

3/13

AAUTX

Thrivent Large Cap Value

Matthew Finn

Kurt Lauber joins David Francis

3/13

AASMX

Thrivent Small Cap Stock

Darren Bagwell

Matthew Finn

3/13

TGAAX

Touchstone Global Real Estate

Scott Westphal and Dave Wharmby

Wayne Hollister and Benjamin Linford

3/13

FOEQX 

Tributary Core Equity Fund

Randall Greer will be retiring from Tributary Capital Management and Christopher Sullivan will also no longer be a named manager on the fund

Donald Radtke, who according to the supplement to the prospectus, “has been actively working alongside Mr. Greer for months in preparation for this transition.”

3/13

VGAAX

Virtus Greater Asia ex Japan Opportunities

No one, but . . .

Brian Bandsma joins as comanager

3/13

VGEAX

Virtus Greater European Opportunities Fund

No one, but . . .

Rajiv Jain and Daniel Kranson join as comanagers

3/13

 

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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.