Manager changes, November 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

ADVGX

Advisory Research All Cap Value Fund

Brien O’Brien is no longer a manager

James Langer, Matthew Swaim, and Bruce Zessar remain

11/13

ADVWX

Advisory Research Global Value Fund

Brien O’Brien is no longer a manager

James Langer, Matthew Swaim, Jonathan Brodsky, Drew Edwards, and Marco Priani remain and are joined by Bruce Zessar.

11/13

ADVEX

Advisory Research International All Cap Value Fund

Brien O’Brien is no longer a manager

Jonathan Brodsky, Drew Edwards, and Marco Priani remain

11/13

ADVIX

Advisory Research International Small Cap Value Fund

Brien O’Brien is no longer a manager

Jonathan Brodsky, Drew Edwards, and Marco Priani remain

11/13

ADVNX

Advisory Research Strategic Income Fund

Brien O’Brien is no longer a manager

James Langer and Bruce Zessar remain.

11/13

RALGX

AllianzGI Large Cap Growth Fund

Peter Goetz

The rest of the team remains.

11/13

INDAX

ALPS/Kotak India Growth Fund

Harish Krishan is out.

Nitin Jain remains as the sole portfolio manager.

11/13

ABBYX

American Beacon Small Cap Value II Fund

Robert Milmore leaves the team

Patrick O’Brien joins the team

11/13

AIBAX

American Funds Intermediate Bond Fund of America

David Hoag is off the fund, but remains with the firm

David Lee and Fergus MacDonald will replace him on the team

11/13

AFFAX

American Independence Fusion Fund

Subadvisor Eddystone Capital is out, along with managers Francis Ledwidge and Timothy Voake

In house manager Robert Shea will manage the fund.

11/13

BBHEX

BBH International Equity Fund

Ian Clark and Kenneth Lyall leave the team

Hilda West joins the remaining team members.

11/13

BSRIX

Bishop Street Strategic Growth Fund

Hubert Goye and subadvisor BNP Paribas Asset Management are out.

Subadvisor, Columbia Management Investment Advisers, along with Todd Herget, Thomas Galvin, and Richard Carter, are in

11/13

MIBLX

BNY Mellon Asset Allocation Fund

Jeffrey Mortimer and Bernard Schoenfeld are out

Warren Chiang and Ronald Gala are in.

11/13

MPLCX

BNY Mellon Large Cap Stock

Jeffrey McGrew and Sean Fitzgibbon are out

Warren Chiang and Ronald Gala are in.

11/13

CTSAX

Caritas All-Cap Growth

Brenda Smith is out, as the fund enters an Interim Investment Advisory Agreement with Goodwood Advisors.  Goodwood???

Ryan Thibodeaux and Joshua Pesses are the managers from Goodwood.

11/13

CLLAX

Collins Alternative Solutions Fund

No one, but . . .

Seven Locks Capital Management becomes the sixth subadvisor to the fund

11/13

LACAX

Columbia Acorn

Charles McQuaid is leaving the fund, but remaining with the firm.

Rob Mohn will continue on and will be joined by David Frank in January

11/13

LAUAX

Columbia Acorn USA

No one, but . . .

William Doyle will join manager, Robert Mohn, in January

11/13

CTFAX

Columbia Thermostat

No one, but . . .

Charles McQuaid will be joined by Christopher Olsen in January

11/13

TIEUX

Consulting Group Capital Markets Funds International Equity Investments

Virginie Maisonneuve

The rest of the team remains.

11/13

DSGAX

Dreyfus Select Managers Small Cap Growth Fund

No one, but . . .

Granite Investment Partners and Rich Hall James & Assoc. become new subadvisors to the fund.

11/13

DCEMX

Dunham Emerging Markets Stock

David Schaen

Anthony Craddock, Peter Hill, and Eric Leve

11/13

DCSVX

Dunham Small Cap Value

Troy Dayton and Kris Herrick

John Albert and Kevin Finn

11/13

EVTMX

Eaton Vance Dividend Builder Fund

Judith Saryan is leaving

Charles Gaffney carries on alone

11/13

EVCGX

Eaton Vance Greater China Growth Fund

No one, but . . .

May Ling Wee joins Pamela Chan as a comanager.

11/13

EVGFX

Eaton Vance Multi-Cap Growth Fund

Gerald Moore, G.R. Nelson, and Kwang Kim are out.

Yana Barton and Lewis Piantedosi are in

11/13

EAVSX

Eaton Vance Small Cap Value Fund

Robert Milmore leaves the team

Patrick O’Brien joins team leader, Gregory Greene and and comanager, J. Bradley Ohlmuller

11/13

EACPX

Eaton Vance Tax-Managed Multi-Cap

Gerald Moore, G.R. Nelson, and Kwang Kim are out.

Yana Barton and Lewis Piantedosi are in

11/13

SGGDX

First Eagle Gold Fund

The firm announced the death of manager, Rachel Benepe, who’d been on leave.

Comanager, Matthew McLennan, will take over full management duties.

11/13

FWSBX

First Western Short Duration Bond Fund

Greg Haendel has resigned

Barry Julien will continue on his own

11/13

FLSLX

Forward Credit Analysis Long/Short Fund

Subadvisor, Cedar Ridge Partners

PIMCo will be the new subadvisor, with Joe Deane and David Hammer at the helm

11/13

GWSAX

Gabelli Focus Five Fund

Elizabeth Lilly and Sarah Donnelly have resigned

Dennis Miller remains on the fund

11/13

GEMZX

GuideStone Funds Emerging Markets Equity

AQR Capital Management is out as a subadvisor, along with Jacques Friedman, Oktay Kurbanov, and Lars Nielsen.

Genesis Asset Managers and Genesis Investment Management remain as subadvisors, with Karen Yerburgh, Karen Royden, and Andrew Elder at the helm.

11/13

WHIAX

Ivy High Income Fund

Bryan Krug is leaving the firm to join Artisan Partners and form a new investment team.

William Nelson will take the lead

11/13

JENSX

Jensen Quality Growth

No one, but . . .

Adam Calamar joins as comanager

11/13

CFIPX

Legg Mason Batterymarch Global Equity Fund

Michael McElroy is out.

Joseph Giroux joins Stephen Lanzendorf

11/13

LRRAX

Legg Mason Strategic Real Return

Michael McElroy is out.

Philip Smeaton joins the team

11/13

MSSFX

Litman Gregory Masters Smaller Companies Fund

Rikard Ekstrand has retired.

The rest of the team remains.

11/13

NTCHX

Northern Technology Fund

Matthew Peron is out

Sandeep Soorya joins remaining manager, Deborah Koch.

11/13

OWGOX

Old Westbury Global Opportunities Fund

No one, but . . .

Muzinich & Co becomes the fourth subadvisor to the fund with Michael McEachern joining the management team

11/13

PGAIX

PIMCO Global Multi-Asset

Comanager Saumil Parikh is leaving the fund for other work with the firm

Manager, Mohamed El-Erian, remains, along with Vineer Bhansali and Curtis Mewbourne

11/13

CMNWX

Principal Capital Appreciation

No one, but . . .

Sarah Radecki joins as a comanager

11/13

SFGIX

Seafarer Overseas Growth and Income Fund

William Maeck is no longer an associate portfolio manager

Andrew Foster and Kate Jaquet remain

11/13

TRGFX

T. Rowe Price Global Infrastructure

Susanta Mazumdar is out as the fund prepares to merge into TRP Real Assets

Kes Visuvalingam

11/13

WALLX

The Wall Street Fund

Robert Morse is out after 29 years at the helm

Timothy Evnin and Charles Ryan remain.

11/13

LTCAX

Thornburg CA Limited-Term Municipal

Christopher Ihlefeld has retired

Josh Gonze and Christopher Ryon remain

11/13

LTCAX

Thornburg Intermediate Municipal

Christopher Ihlefeld has retired

Josh Gonze and Christopher Ryon remain

11/13

LTMFX

Thornburg Limited-Term Municipal

Christopher Ihlefeld has retired

Josh Gonze and Christopher Ryon remain

11/13

THNMX

Thornburg NM Intermediate Municipal

Christopher Ihlefeld has retired

Josh Gonze and Christopher Ryon remain

11/13

THNYX

Thornburg NY Intermediate Municipal

Christopher Ihlefeld has retired

Josh Gonze and Christopher Ryon remain

11/13

TSSAX

Thornburg Strategic Municipal Income

Christopher Ihlefeld has retired

Josh Gonze and Christopher Ryon remain

11/13

TMNCX

Turner Market Neutral Fund

Matthew Glaser is off the fund

Robert Turner and David Kovacs take over.

11/13

VAMGX

VALIC Company II Mid Cap Growth

Columbia Management Advisors

Wells Capital Management with Thomas Pence, Michael Smith and Chris Warner

11/13

GBFAX

Van Eck Emerging Markets

Team member Edward Kuczma is leaving the firm to pursue other opportunities

Manager, David Semple remains with team member, Angus Shillington

11/13

VGPMX

Vanguard Precious Metals and Mining

Graham French is stepping down.

Comanager Randeep Sornel is moving up.

11/13

PQSAX

Virtus Quality Small-Cap Fund

Robert Schwarzkopt is out

Julie Kutasov and Craig Stone remain

11/13

EKGAX

Wells Fargo Advantage Global Opportunities fund

No one, but . . .

Bryant VanCronkhite joins the team

11/13

ESPAX

Wells Fargo Advantage Special Small Cap Value Fund

No one, but . . .

Bryant VanCronkhite joins the team

11/13

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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.