Manager changes, September 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

ASFIX

Absolute Strategies Fund

No one, but . . .

Harvest Capital Strategies and Pine Cobble Capital will become subadvisers to the fund.

9/14

MBDFX

AMG Managers Total Return Bond Fund

William Gross.  This would be, alphabetically, the first of nearly 40 manager changes attributable to Mr. Gross’s change of employment.

Scott Mather, Mark Kiesel, and Mihir  Worah have been designated as his successors here.

9/14

AHFAX

Aurora Horizons

Chicago Fundamental Investment Partners is out as a subadvisor to the fund

The other nine subadvisors remain.

9/14

BXMMX

Blackstone Alternative Multi-Manager Fund

No one, but . . .

Rail-Splitter Capital Management has joined as a new subadviser.

9/14

DHGRX

Centre Global Select Equity Fund

Jing Sun is out

Xavier Smith take over.

9/14

KDCAX

Deutsche Large Cap Value

Peter Steffen

Deepak Khanna

9/14

DRGGX

Driehaus Global Growth Fund, which itself is slated for liquidation.

Dan Rea is out, along with assistant portfolio manager, Sebastian Pigeon

Joshua Rubin moves up to lead portfolio manager. 

9/14

DRIDX

Driehaus International Discovery Fund

Dan Rea is out, along with assistant portfolio manager, Sebastian Pigeon

Joshua Rubin moves up to lead portfolio manager

9/14

DAAIX

Dunham Appreciation & Income Fund

Calamos Advisors is out as a subadvisor

Penn Capital Management takes over as subadvisor

9/14

DAAVX

Dunham Loss Averse Equity Income Fund

PVG Asset Management is no longer a subadvisor

Mellon Capital Management is the new subadvisor

9/14

EIIPX

E.I.I. International Property

Suang Eng Tsan

Andrew Cox and Michael Wong join Alfred Otero

9/14

ENRAX

Eaton Vance Global Natural Resources

Robert Lyon

Stephen Bonnyman

9/14

FGSAX

Federated MDT Mid Cap Growth Fund

No one, but . . .

John Lewicke joins Brian Greenberg, Frederick Konopka, and Daniel Mahr.

9/14

FSTRX

Federated MDT Stock Trust Fund

No one, but . . .

John Lewicke joins Brian Greenberg, Frederick Konopka, and Daniel Mahr.

9/14

FSGLX

Frontegra RobecoSAM Global Equity Fund

Diego D’Argenio is no longer a portfolio manager of the fund.

Rainer Baumann assumed the position of senior portfolio manager. Kai Fachinger remains on the fund.

9/14

FACEX

Frost Growth Equity Fund

Stephen Coker and TJ Qatato (yep, we checked the spelling) no longer serve as portfolio managers to the Fund.

John Lutz, Tom Stringfellow, and Brad Thompson carry on

9/14

GTCIX

Glenmede International Fund

Frederick Herman is no longer listed as a portfolio manager.

Wei Huang joins Andrew B. Williams, Robert Benthem de Grave, and Stephen Dolce to manage the fund.

9/14

MXREX

Great-West Real Estate Index Fund

No one, but . . .

Deanne Gyllenhaal joins Louis Bottari, Peter Matthew, and Patrick Waddell

9/14

MXGBX

Great-West Templeton Global Bond Fund

Canyon Chan (sounds like he should be a fighter pilot) is no longer a portfolio manager of the fund.

Michael Hasentab and Christine Zhu carry on.

9/14

GLDZX

GuideStone Funds Low-Duration Bond Fund

Chris Dialynas no longer serves as a portfolio manager.

Mary Syal, Thomas Musmanno, Scott MacLellan, Brian Matthews and Jerome Schneider remain on the fund.

9/14

GMDZX

GuideStone Funds Medium-Duration Bond Fund

Chris Dialynas no longer serves as a portfolio manager.

Jonathan Beinner, Carl Eichstaedt, Mark Lindbloom, Michael Swell, Julien Scholnick, Sudi Mariappa, Michael Buchanan, Keith Gardner, and S. Kenneth Leech remain.

9/14

HCGAX

HSBC Emerging Markets Debt Fund

No one, but . . .

Vinayak Potti joins Guillermo Ossés, Lisa Chua, Binqi Liu, and Phil Yuhn.

9/14

HBMAX

HSBC Emerging Markets Local Debt Fund

No one, but . . .

Abdelak Adjriou joins Guillermo Ossés, Lisa Chua, Binqi Liu, and Phil Yuhn.

9/14

HRSAX

Huntington Real Strategies Fund

Robert “Chip” Henderson II, who served as portfolio manager for only five months.

Paul Attwood joins Peter Sorrentino.

9/14

ALAAX

Invesco Income Allocation

Gary Wendler is no longer listed as a portfolio manager

Duy Nguyen is in

9/14

AINAX

Invesco International Allocation

Gary Wendler is no longer listed as a portfolio manager

Duy Nguyen is in

9/14

IECAX

Ivy Emerging Markets Local Currency Debt Fund

Orlena Yee is out

The rest of the team, Simon Lue-Fong, , Mary-Therese Barton, Wee-Ming Ting, Philippe Petit, and Guido Chamorro, remains

9/14

JAREX

James Alpha Global Real Estate Investments Portfolio

Amanda Black no longer serves as a portfolio manager.

Andrew Duffy continues on.

9/14

JUCAX

Janus Unconstrained Bond Fund (soon to be Janus Global Unconstrained Bond Fund)

Gibson Smith and Darrell Watters

William Gross

9/14

JITRX

JHancock Funds II Total Return

William Gross

Mark Kiesel, Scott Mather, and Mihir Worah are in

9/14

JFIAX

John Hancock Floating Rate Income Fund

Stephen A. Walsh no longer serves as a portfolio manager of the fund.

S. Kenneth Leech has been named as portfolio manager the fund. Michael C. Buchanan and Timothy J. Settel will continue as portfolio managers of the fund.

9/14

JISOX

John Hancock Small Cap Opportunities Fund

No one, but . . .

Brandywine Global Investment Management and Gannett, Welsh & Kotler have been added as subadvisors

9/14

JASAX

JPMorgan Alternative Strategies Fund

Bala Iyer will retire at the end of the month

The rest of the team remains

9/14

JDEAX

JPMorgan Disciplined Equity Fund

Terance Chen is no longer listed as a portfolio manager

Steven Lee, Raffaele Zingone, and Aryeh Glatter remain.

9/14

JUEAX

JPMorgan Equity Index Fund

No one, but . . .

Nicholas D’Eramo will join the team at the beginning of November.

9/14

JEITX

JPMorgan Global Research

Beltrán de la Lastra is out

James Cook, Ido Eisenberg, and Demetris Georghiou are in.

9/14

OIEAX

JPMorgan International Research Enhanced Equity

Beltrán de la Lastra is out

James Cook and Ido Eisenberg are in.

9/14

OGIAX

JPMorgan Investor Balanced

Bala Iyer will retire at the end of the month

The rest of the team remains

9/14

OICAX

JPMorgan Investor Conservative Growth

Bala Iyer will retire at the end of the month

The rest of the team remains

9/14

ONGIX

JPMorgan Investor Growth & Income

Bala Iyer will retire at the end of the month

The rest of the team remains

9/14

ONGAX

JPMorgan Investor Growth

Bala Iyer will retire at the end of the month

The rest of the team remains

9/14

HSKAX

JPMorgan Market Neutral

Terance Chen is no longer listed as a portfolio manager

Steven Lee and Raffaele Zingone remain.

9/14

JLSAX

JPMorgan Research Equity Long/Short

Terance Chen is no longer listed as a portfolio manager

Steven Lee and Raffaele Zingone remain.

9/14

JMNAX

JPMorgan Research Market Neutral

Terance Chen is no longer listed as a portfolio manager

Steven Lee and Raffaele Zingone remain.

9/14

JEPAX

JPMorgan U.S. Research Equity Plus

Terance Chen is no longer listed as a portfolio manager

Aryeh Glatter and Raffaele Zingone return to manage the fund after a two month absence

9/14

KPFIX

KP Fixed Income

Kelly Cliff ceased serving as co-portfolio manager

Ivan “Butch” Cliff joined the rest of the team.

9/14

KPIEX

KP International Equity Fund

Kelly Cliff ceased serving as co-portfolio manager

Ivan “Butch” Cliff joined the rest of the team.

9/14

KPLCX

KP Large Cap Equity Fund

Kelly Cliff ceased serving as co-portfolio manager

Ivan “Butch” Cliff joined the rest of the team.

9/14

KPSCX

KP Small Cap Equity Fund

Kelly Cliff ceased serving as co-portfolio manager

Ivan “Butch” Cliff joined the rest of the team.

9/14

SWMSX

Laudus Small-Cap MarketMasters Fund

TAMRO Capital Partners LLC will no longer serve as an investment manager

The rest of the team remains

9/14

LSVRX

Loomis Sayles Value Fund

No one, but . . .

Adam Liebhoff joins Arthur Barry who’s been running the fund on his own since Warren Koontz’s departure last month.

9/14

MOPAX

MainStay US Small Cap Fund

Janet Navon will be leaving at the end of the year

David Pearl and Michael Welhoelter will continue to serve as portfolio managers of the fund.

9/14

MDDAX

MassMutual Select Diversified Value Fund

Warren Koontz is no longer listed as a portfolio manager

Joseph Kirby, Henry Otto, Steven Tonkovich, and Arthur Barry remain on the fund.

9/14

NMMGX

Northern Multi-Manager Global Real Estate Fund

Subadvisor, EII Real Securities is out, along with managers Peter Nieuwland, Alfred Otero, James Rehlander, and Suang Eng Tsan.

Subadvisor, Delaware Investments Fund Advisers, is in. The remainder of the managers stay on the fund.

9/14

MIBFX

Orion/Monetta Intermediate Bond Fund

George Palmer, Jr., no longer serves as a portfolio manager.

Stephen Cummings, Jr., continues on.

9/14

PARNX

Parnassus Fund

Romahlo Wilson ceased acting as a co-portfolio manager

Jerome Dodson continues to serve as lead portfolio manager, and Ian Sexsmith continues to serve as co-portfolio manager.  Sexsmith?  Smith, as in “one who makes…”?

9/14

LSEAX

Persimmon Long/Short Fund

Todd Dawes no longer serves as a portfolio manager of the fund.

Arthur Holley has been added as a portfolio manager, joining Greg Horn and the rest of the extensive team.

9/14

PEQAX

PIMCO EqS Emerging Markets Fund

Masha Gordon

Virginie Maisonneuve

9/14

PFATX

PIMCO Fundamental Advantage Absolute Return Strategy

William Gross

Robert Arnott, Mohsen Fahmi and Saumil Parikh

9/14

PIXAX

PIMCO Fundamental IndexPLUS AR

William Gross

Robert Arnott, Mohsen Fahmi and Saumil Parikh

9/14

PSCSX

PIMCO Small Cap StocksPLUS AR Strategy

William Gross

Mohsen Fahmi and Saumil Parikh

9/14

PSTKX

PIMCO StocksPLUS

William Gross

Sudi Mariappa

9/14

PSPTX

PIMCO StocksPLUS Absolute Return

William Gross

Mohsen Fahmi and Saumil Parikh

9/14

PSTIX

PIMCO StocksPLUS AR Short Strategy

William Gross

Mohsen Fahmi and Saumil Parikh

9/14

PTXAX

PIMCO Tax Managed Real Return Fund

Mihir Worah is out

Rahul Seksaria joins Joseph Dean in managing the fund.

9/14

PTTRX

PIMCO Total Return

William Gross

Mark Kiesel, Scott Mather, and Mihir Worah are in

9/14

PUBAX

PIMCO Unconstrained Bond Fund

William Gross

Daniel Ivascyn, Mohsen Fahmi, and Saumil Parikh

9/14

PIAAX

Pioneer Ibbotson Aggressive Allocation Fund

Pioneer Investment Management, Inc. will assume direct responsibility for the day-to-day management of each of the Pioneer Ibbotson Allocation funds in mid-November. This will involve a name and strategy change, as well.

There’s no word yet on portfolio managers

9/14

GRAAX

Pioneer Ibbotson Growth Allocation Fund

Pioneer Investment Management, Inc. will assume direct responsibility for the day-to-day management of each of the Pioneer Ibbotson Allocation funds in mid-November. This will involve a name and strategy change, as well.

There’s no word yet on portfolio managers

9/14

PIALX

Pioneer Ibbotson Moderate Allocation Fund

Pioneer Investment Management, Inc. will assume direct responsibility for the day-to-day management of each of the Pioneer Ibbotson Allocation funds in mid-November. This will involve a name and strategy change, as well.

There’s no word yet on portfolio managers

9/14

PMDEX

PMC Diversified Equity

Warren Koontz is no longer listed as a portfolio manager

Arthur Barry remains on the fund, along with the rest of the extensive team

9/14

PMCAX

PNC Mid Cap Fund

Gordon Johnson has announced his intention to retire effective June 30, 2015

Effective October 31, 2014, James Mineman and Peter Roy will become co-lead portfolio managers

9/14

PPCAX

PNC Small Cap Fund

Gordon Johnson has announced his intention to retire effective June 30, 2015

Effective October 31, 2014, James Mineman and Peter Roy will become co-lead portfolio managers

9/14

PCGAX

Prudential Income Builder

William Gross, Matthew Sabel, and Dennis Alff are no longer listed as portfolio managers

QMA, Jennison, Prudential Fixed Income and Prudential Real Estate Investors became the subadvisers to the Fund.

9/14

PEEAX

Prudential Jennison Mid-Cap Growth Fund

No one, but . . .

Jeffrey Rabinowitz will join John Mullman as a portfolio manager for the fund.

9/14

PBQIX

Prudential Jennison Value Fund

David Kiefer and Avi Berg are out

Warren Koontz will be managing the fund

9/14

RSFLX

RS Floating Rate Fund

Marc Gross is no longer co-portfolio manager

Kevin Booth, Paul Gillin, and John Blaney carry on

9/14

GUHYX

RS High Yield Fund

Marc Gross is no longer co-portfolio manager

Kevin Booth and Paul Gillin carry on

9/14

RSIAX

RS Strategic Income Fund

Marc Gross is no longer co-portfolio manager

Kevin Booth, Paul Gillin, and John Blaney carry on

9/14

FMGCX

Rx Dynamic Growth Fund

Chase Weaver is no longer a member of the portfolio management team

Steven Wruble, Greg Rutherford, and D. Jerry Murphey remain

9/14

SVFAX

Smead Value Fund

No one, but . . .

Cole Smead joins William Smead and Tony Scherrer.

RTSRX

State Street/Ramius Managed Futures Strategy Fund (note the new name)

Jill King and Horizon Cash Management are out.

Thomas Connelley, of State Street Global Advisors, joins William Marr and Alexander Rudin on the management team.

9/14

FMJDX

Strategic Advisers International Fund

No one, but . . .

Thompson, Siegel & Walmsley has been added as a fourth subadviser to the fund

9/14

FNAPX

Strategic Advisers Small-Mid Cap Multi-Manager Fund

No one, but . . .

Fisher Investments has been added as the ninth subadviser to the fund

9/14

PRCOX

T. Rowe Price Capital Opportunity Fund

Anna Dopkin, whose done a bang-up job in her seven years with the fund, leaves at New Year’s.

Ann Holcomb, Jason Polun, and Eric Veiel become the new portfolio management team

9/14

TILCX

T. Rowe Price Institutional Large-Cap Value Fund

No one, at the moment, but . . .

Heather McPherson joins Mark Finn, John Linehan, and Brian Rogers on the fund. They’ve also announced that Brian Rogers will step down a bit over a year from now.

9/14

TRISX

T. Rowe Price Institutional U.S. Structured Research

Anna Dopkin, see above.

Ann Holcomb, Jason Polun, and Eric Veiel become the new portfolio management team

9/14

TGMAX

TCW Emerging Markets Multi-Asset Opportunity Fund

No one, but . . .

Ray Prasad joins Penelope Foley and David Robbins.

9/14

TVSVX

Third Avenue Small Cap Value Fund

Curtis Jensen and Charles Page are no longer listed as portfolio managers.  The debate centers on whether to use “purge,” “cleansing” or “rolling coup” to describe the continuing departure of almost all the old guard Third Avenue managers.

Robert Rewey and Tim Bui remain on the fund

9/14

IMNAX

Transamerica Global Equity Fund

Dario Castagna and Dan McNeela are no longer listed as portfolio managers

Jimmy Chang and David Harris are now managing the fund.

9/14

MCGAX

Transamerica Mid Cap Growth Fund

Stephen Bradley, Jr. is no longer listed as a portfolio manager

Howard Aschwald and Timothy Chatard carry on

9/14

WMMRX

Wilmington Multi-Manager Real Asset Fund

No one, but . . .

Parametric Portfolio Associates become a fourth subadviser to the fund with Thomas Seto and David Stein joining the team

9/14

DTLVX

Wilshire Large Company Value Portfolio

Antonio DeSpirito, III no longer serves as portfolio manager

The rest of the team remains.

9/14

 

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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.