Manager changes, August 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

TWCIX

American Century Select

No one, but . . .

Analyst Chris Krantz is promoted to comanager.

8/13

TWCUX

American Century Ultra

No one, but . . .

Analyst Jeff Bourke is promoted to comanager.

8/13

BACHX

BlackRock Emerging Markets Dividend

Andrew Swan, under whom the fund remained microscope and wan, is out

Dhiren Shah and Luiz Soares

8/13

CEIAX

Calvert Equity Income Fund

No one, but . . .

Natalie Trunow joins the team.

8/13

CGOIX

Century Growth Opportunities Fund

David Borah

Donald Bisson remains

8/13

DSGAX

Dreyfus Select Managers Small Cap Growth Fund

Subadvisor King Investment Advisors.

The other five subadvisers remain.

8/13

MIDVX

DWS Mid Cap Value

Subadvisor Dreman Value Management is out.

The in-house team of Richard Glass, Richard Hanlon, and Mary Schafer, will take over.

8/13

RRRAX

DWS RREEF Real Estate Securities

Jerry W. Ehlinger

Joseph Fisher and David Zonavetch join John Robertson and John Vojticek

8/13

KDSAX

DWS Small Cap Value

Subadvisor Dreman Value Management is out.  DVM is another of those guru-driven firms that’s been spiraling steadily down.

The in-house team of Richard Glass, Richard Hanlon, and Mary Schafer, will take over.

8/13

ETTGX

Eaton Vance Tax-Managed Growth Fund 1.1

Duncan Richardson will be retiring as of Oct. 31st

The rest of the team, Lewis R. Piantedosi, Michael A. Allison and Yana S. Barton, remains.

8/13

EXTGX

Eaton Vance Tax-Managed Growth Fund 1.2

Duncan Richardson will be retiring as of Oct. 31st

The rest of the team, Lewis R. Piantedosi, Michael A. Allison and Yana S. Barton, remains.

8/13

FDEGX

Fidelity Growth Strategies Fund

Christopher Lee

Jean Park 

8/13

FSESX

Fidelity Select Energy Service

No one, but . . .

Ben Shuleva joins Jonathan Kasen

8/13

FPRAX

FPA Paramount

Steven Geist and Eric Ende are stepping down after 13 years as part of a strategy change

Gregory Herr and Pierre Py move into the lead.

8/13

FPPFX

FPA Perennial

No one, but . . .

Gregory Herr will join existing managers Eric Ende and Steven Geist

8/13

GCIAX

Goldman Sachs International Equity Insights

Nellie Bronner

Osman Ali and Takashi Suwabe will join the team.

8/13

GICAS

Goldman Sachs International Small Cap Insights

Nellie Bronner

Osman Ali and Takashi Suwabe will join the team.

8/13

SEQAX

Guggenheim World Equity Income

The Rydex team of Michael Byrum, Michael Dellap, and Ryan Harder

Ole Jakob Wold, Farhan Sharaff, Scott Hammond, and Nardin Baker.

8/13

GSCYX

Guidestone Small Cap Equity Fund

Chris Diegelman, one of the managers from sub-advisor Western Asset

The rest of the 15 person, 6 sub-advisor team remains.

8/13

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Heather Hackett is out.  The legal filing fees alone must surely have approached the amount of her salary; her departure triggered something let seven separate sets of SEC filings.

Frank van Etten is taking her place

8/13

LETRX

ING Russia Fund

Angus Alexander Robertson

Renat Nadyukov

8/13

JXBAX

JPMorgan Access Balanced Fund

Subadvisors FMI, Osterweis, and Shenkman are out.

The other five subadvisers remain.

8/13

JXGAX

JPMorgan Access Growth Fund

Subadvisors FMI, Osterweis, and Shenkman are out.

The other five subadvisers remain.

8/13

LAALX

Leuthold Asset Allocation

Eric Weigal is out and the fund is about to dissolve.

The rest of the team remains.

8/13

LSLTX

Leuthold Select Industries Fund

Eric Weigal

Greg Swenson joins the team

8/13

MIMFX

Managers Micro-Cap Fund

No one, but . . .

Arthur K. Weise joins the team.

8/13

MFWTX

MFS Global Total Return

No one, but . . .

Pilar Gomez-Bravo and Robert Persons will join the team

8/13

NABAX

Neuberger Berman Absolute Return Multi-Manager Fund

No one, but . . .

Loeb Arbitrage Management is a new subadviser to the fund, with Gideon King, Scott Williams, Blaine Marder, Adam Weingarten and Brian Anderson running their sleeve.

8/13

EMGRX

Nuveen Small Cap Select

No one, but . . .

Mark Traster move into lead manager role, and Gregory Ryan joins Allen Steinkopf as comanager

8/13

NTEAX

Nuveen Tradewinds Emerging Markets

Michael Hart, a founding manager of this one-star mess

Emily Alejos, the other founder, will serve as the sole portfolio manager

8/13

OAAAX

Oppenheimer Active Allocation Fund

Alan C. Gilston

Mark Hamilton

8/13

OACIX

Oppenheimer Conservative Investor Fund

Alan C. Gilston

Mark Hamilton

8/13

ODAAX

Oppenheimer Diversified Alternatives Fund

Alan C. Gilston

Mark Hamilton

8/13

OAAIX

Oppenheimer Equity Investor Fund

Alan C. Gilston

Mark Hamilton

8/13

OAMIX

Oppenheimer Moderate Investor Fund

Alan C. Gilston

Mark Hamilton

8/13

PAGVX

Putnam American Government Income Fund

Daniel S. Choquette

Michael V. Salm 

8/13

PINCX

Putnam Income Fund

Daniel S. Choquette

Michael Murphy joins Brett Kozlowski and Michael Salm

8/13

PGSIX

Putnam U.S. Government Income Trust

Daniel S. Choquette

Michael V. Salm 

8/13

BPLEX

Robeco Boston Partners Long/Short Equity Fund

Mark E. Donovan  leaves after a great 15 year stint

Ali Motamed, who’s been with Robeco since 2003,  joins Robert Jones

8/13

SSVAX

SunAmerica Value Fund

Steven Neimeth

Jay Merchant

8/13

LCGAX

Transamerica Large Cap Growth

James P. Haynie

Pamela Woo joins Jeffrey Bray

8/13

TTAAX

Transamerica Tactical Allocation

Sridip Mukhopadhyaya

Frank Koster joins David Halfpap and Frank Rybinski

8/13

IGTAX

Transamerica Tactical Income

Sridip Mukhopadhyaya

Frank Koster joins David Halfpap and Frank Rybinski

8/13

ATTRX

Transamerica Tactical Rotation

Sridip Mukhopadhyaya

Frank Koster joins David Halfpap and Frank Rybinski

8/13

FOBAX

Tributary Balanced

John Harris and Kurt Spieler left after an exceedingly solid three year stint

David Jordan, skipper from 2001-2010 returns

8/13

VSSGX

VALIC Company I Small-Mid Growth

Chad Meade and Brian Schaub, who left Janus for Arrowpoint and leadership of the Meridian Growth fund

Steven Barry and Jeffrey Rabinowitz

8/13

VEXPX

Vanguard Explorer

No one, but . . .

A seventh subadvisor, Stephens Investment Group, with Ryan Crane and three comanagers.

8/13

FMIEX

Wasatch Large Cap Value

Long-term managers Michael Shinnick, now, and Ralph Shive at the end of September

David R. Powers

8/13

WFGBX

Wells Fargo Advantage Growth Balanced Fund

The entire Wells Capital Management, Inc. team of  Doug Beath, Petros Bocray and Jeffrey P. Mellas

Christian Chan and Kandarp Acharya

8/13

WFMAX

Wells Fargo Advantage Moderate Balanced Fund

The entire Wells Capital Management, Inc. team of  Doug Beath, Petros Bocray and Jeffrey P. Mellas

Christian Chan and Kandarp Acharya

8/13

WRAIX

Wilmington Multi-Manager Alternatives

Daniel Keating

Everyone else remains.

8/13

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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.