Manager changes, March 2014

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

FXDAX

Altegris Fixed Income Long Short Fund

No one, but . . .

Eric Bundonis joins Jon Sundt, Matthew Osborne, Allen Cheng, Kevin Schweitzer, and Anilesh Ahuja

3/14

DWAFX

Arrow DWA Balanced Fund

Michael Moody is gone

Harold Parker and John Lewis remain on the fund

3/14

DWTFX

Arrow DWA Tactical Fund

Michael Moody is gone

Harold Parker and John Lewis remain on the fund

3/14

DSFAX

ASG Diversifying Strategies Fund

Jeremiah Chafkin is out.

Andrew Lo and Robert Rickard remain as comanagers

3/14

GAFAX

ASG Global Alternatives Fund

Jeremiah Chafkin is out.

Andrew Lo and Robert Rickard remain as comanagers

3/14

AMFAX

ASG Managed Futures Strategy Fund

Jeremiah Chafkin is out.

Andrew Lo and Robert Rickard remain as comanagers

3/14

BHYAX

BlackRock High Yield Bond

Charlie McCarthy

James Keenan, Mitchell Garfin, David Delbos, Derek Schoenhofen, Thomas Musmanno, Scott MacLellan, Rick Rieder and Bob Miller are the funds’ portfolio managers

3/14

CNIAX

City National Rochdale Multi-Asset Fund

Otis “Tres” Heald left at the end of February.

Thomas Gavin and Fang Zhou join William Miller, Jr. and Bruce Simon

3/14

CEFFX

Congressional Effect Fund

Eric Singer is off the fund, which is to say the Congressional Effect team has been removed from the Congressional Effect fund

Sean McCooey, of Pulteney Street Capital Management, is now the portfolio manager.

3/14

LCMAX

Driehaus Active Income Fund

Mirsada Durakovic is no longer an assistant portfolio manager

Adam Abbas joins K.C. Nelson and Elizabeth Cassidy

3/14

DRSLX

Driehaus Select Credit Fund

Mirsada Durakovic is no longer an assistant portfolio manager

Adam Abbas joins K.C. Nelson and Elizabeth Cassidy

3/14

SCINX

DWS International

Juergen Foerster, Johannes Prix, and Thomas Voecking are out

Di Kumble takes over

3/14

FKASX

Federated Kaufmann Small Cap Fund

Aash Shah

The rest of the team remains on the fund.

3/14

FIXMX

Fidelity International Small Cap

Nick Price, Dale Nicholls, and Colin Stone

Sam Chamovitz

3/14

FJPNX

Fidelity Japan

Rie Shigekawa

Kirk Neureiter

3/14

FJSCX

Fidelity Japan Smaller Companies

Nick Price is out, capping a quarter in which Fidelity changed management at six global stock or bond funds

David Jenkins

3/14

AITIX

Forward Investment Grade Fixed-Income Fund

Chris Dialynas, who is “on sabbatical” from the PIMCO version of this fund but apparently out here.

Mohit Mittal will take over.

3/14

FNGAX

Franklin International Growth Fund

No one, but . . .

Donald Huber joins Coleen Barbeau and M. Par Rostom

3/14

ICRAX

ICON Consumer Staples Fund

Robert Straus is out

Mick Kuehn takes over

3/14

IOCAX

ICON Risk-Managed Balanced Fund

Robert Straus is out

Donovan Paul joins Zach Jonson

3/14

ICTUX

ICON Utilities

Robert Straus is out

Derek Rollingson is in

3/14

AAGIX

ING Core Equity

No one, but . . .

Vincent Costa will join Michael Pytosh.

3/14

IACLX

ING Corporate Leaders 100 Fund

No one, but . . .

Steve Wetter and Kai Kee Wong join Vincent Costa.

3/14

ITYAX

Invesco Technology Fund

Brian Nelson and Warren Tennant are out.

Erik Voss and Janet Luby take over.

3/14

JGYAX

John Hancock Global Shareholder Yield Fund

No one, but . . .

John Tobin and Kera Van Valen join William Priest, Eric Sappenfield, and Michael Welhoelter as portfolio managers.

3/14

ONIAX

JPMorgan Core Plus Bond Fund

Duane Huff is gone

J. Andrew Norelli joins the team of Steven Lear, Mark Jackson, Frederick Sabetta, and Richard Figuly

3/14

MSSAX

MassMutual Premier Main Street Fund

No one, but . . .

Paul Larson joins Manind Govil and Benjamin Ram

3/14

MTGAX

Morgan Stanley Mortgage Securities

Sheila Huang is gone.

Michael Kushma and Neil Stone take over the fund

3/14

NMFAX

Nationwide Growth Fund

Christopher Baggini, and subadviser Turner Investments

David Hanna, Edward Mulrane, Douglas Riley, and Michael Vogelzang, and subadviser Boston Advisors, LLC.

3/14

NEFOX

Natixis Oakmark Fund

Diane Mustain, Edward Loeb, and Michael Mangan are out as the fund transitions from being Harris Associates Large Cap Value Fund

Kevin Grant, M. Colin Hudson, and William Nygren take over, which is nice, but NEFOX is vastly more expensive than the original OAKMX

3/14

NABAX

Neuberger Berman Absolute Return Multi-Manager Fund

Turner Investments is out as a subadviser

The rest of the team remains on the fund.

3/14

TRFAX

Patriot Fund

Todd Smurl will no longer protect us from investment exposure to Cuba, Iran, Sudan and Syria

James Lee.  Oddly, both the outgoing and incoming managers are listed as president of Ascendant Advisors.

3/14

PGBAX

Principal Global Diversified Income Fund

No one, but . . .

Kelly Grossman is joined by Jake Anonson, Jessica Bush, Marcus Dummer, James Fennessey, and Benjamin Rotenberg

3/14

PJRAX

Prudential International Equity Fund

Andrew Goldberg is out.

Jacob Pozharny, John Van Belle, Wen Jin, and Ping Wang will continue to serve as portfolio managers for the Fund.

3/14

UMBWX

Scout International

James Moffett will step down at the end of the year, but will remain with the firm.  Morningstar has placed the fund’s rating under review.

Current comanager, Michael Stack, will become co-lead on the fund and take the lead when Mr. Moffett leaves. Michael Fogerty will remain a comanager.

3/14

XXXXX

Strategic Advisors Multi-Manager 2005 through 2055 funds

Christopher Sharpe is out.

The rest of the team remains on the fund.

3/14

FEBPX

Strategic Advisors Multi-Manager Income Fund

Christopher Sharpe is out.

Andrew Dierdorf and Brett Sumsion remain.

3/14

PRLAX

T. Rowe Price Latin America

Jose Costa Buck

Gonzalo Pangaro and Verena Wachnitz

3/14

TAVIX

Third Avenue International Value

Amit Wadhwaney, the founder manager, will retire on June 30th.

Comanager, Matthew Fine, will take over as the sole lead manager.

3/14

TMSCX

Turner Medical Sciences Long/Short Fund

Vijay Shankaran

Michael Tung

3/14

TSCCX

Turner Spectrum Fund

Vijay Shankaran

Michael Tung joins the rest of the team

3/14

VWNAX

Vanguard Windsor II

Portfolio manager, Jeffrey Shaw, and subadvisor Armstrong Shaw Associates, are out.

The other subadvisors and managers remain, with subadvisor Hotchkis & Wiley taking over control of the Armstrong Shaw portion of the portfolio.

3/14

WRAAX

Wilmington Multi-Manager Alternatives

Stefan Mykytiuk and sub-advisor TIG Advisors

The rest of the team remains on the fund.

3/14

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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.