Manager changes, October 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

NTFAX

Aberdeen Tax-Free Income Fund

James Faunce and William Hines are no longer listed as portfolio managers on the fund.

Edward Grant and Michael Degernes continue to serve

10/14

AXBAX

Columbia Capital Allocation Aggressive Portfolio

Melda Mergen is no longer a portfolio manager

The rest of the team remains

10/14

ABDAX

Columbia Capital Allocation Conservative Portfolio

Melda Mergen is no longer a portfolio manager

The rest of the team remains

10/14

NBIAX

Columbia Capital Allocation Moderate Aggressive Portfolio

Melda Mergen is no longer a portfolio manager

The rest of the team remains

10/14

NLGAX

Columbia Capital Allocation Moderate Conservative Portfolio

Melda Mergen is no longer a portfolio manager

The rest of the team remains

10/14

ABUAX

Columbia Capital Allocation Moderate Portfolio

Melda Mergen is no longer a portfolio manager

The rest of the team remains

10/14

NLGIX

Columbia LifeGoal® Growth Portfolio

Melda Mergen is no longer a portfolio manager

The rest of the team remains

10/14

DRCVX

Comstock Capital Value

Martin Weiner, a founder of the bearish Comstock Partners, passed away on October 16, 2014 at age 84.

Charles Minter will continue to be the portfolio manager of the fund.

10/14

CAALX

Cornerstone Advisors Public Alternatives Fund

No one, but . . .

Numeric Investors has been added as a new subadvisor to the fund, with Gregory Bond and Daniel Taylor joining the management team.

10/14

CSAAX

Credit Suisse Managed Futures Strategy Fund

In conjunction with a change in investment objectives and strategies, Jordan Drachman is out, and …

Jonathan Sheridan, Mark Nodelman, and Sid Browne join Sheel Dhande.

10/14

CSQAX

Credit Suisse Multialternative Strategy Fund

In conjunction with a change in investment objectives and strategies, Jordan Drachman is out, and …

Jonathan Sheridan, Mark Nodelman, and Sid Browne join Sheel Dhande.

10/14

STSVX

Dreyfus/The Boston Company Small Cap Value Fund

No one, but . . .

Jonathan Piskorowski joins Joseph Corrado and Stephanie Brandaleone in managing the fund

10/14

DAAVX

Dunham Dynamic Macro Fund, formerly Dunham Loss Averse Equity Income Fund

In conjunction with a name and strategy change, Patrick Adams and Joseph Pecoraro are no longer managing the fund.

The new fund managers are Vassilis Dagioglu, James Stavena, and Torrey Zaches

10/14

DCMEX

DuPont Capital Emerging Markets Fund

Rafi Zaman has announced that he will retire in February 2015

Erik Zipf and Lode Devlaminck have joined as principal portfolio managers in preparation for Mr. Zaman’s retirement.

10/14

EGEAX

Eagle Smaller Company Fund

Eagle Boston Investment Management is no longer a subadvisor to the fund, hence David Adams and John McPherson are no longer portfolio managers

Charles Schwartz, Betsy Pecor, and Matthew McGeary are co-portfolio managers of the fund

10/14

EVCGX

Eaton Vance Greater China Growth Fund

Pamela Chan is no longer listed as a portfolio manager

Stephen Ma has joined May Ling Wee as a portfolio manager

10/14

EROAX

Eaton Vance Hedged Stock, formerly the Eaton Vance Risk-Managed Equity Option Fund

Micheal Allison, Kenneth Everding, Jonathan Orseck, and Walter Row are out.

Charles Gaffney takes over as the sole porfolio manager.

10/14

EBHIX

Equinox BH-DG Strategy Fund

Richard Bornhoft, Afroz Qadeer and Sue Osborne are no longer members of the portfolio management team

Ajay Dravid and Rufus Rankin will continue on

10/14

EEHAX

Equinox EquityHedge US Strategy Fund

Afroz Qadeer and Sue Osborne are no longer members of the portfolio management team

Ajay Dravid and Rufus Rankin will continue on

10/14

MHFAX

Equinox MutualHedge Futures Strategy Fund

Afroz Qadeer and Sue Osborne are no longer members of the portfolio management team

Richard Bornhoft, Ajay Dravid and Rufus Rankin will carry on

10/14

FACNX

Fidelity Advisor Canada Fund

Douglas Lober no longer serves as a co-manager of the fund.  That’s likely a good thing, since the fund floundered under his leadership.

Risteard Hogan remains

10/14

FDMAX

Fidelity Advisor Communications Equipment Fund

No one, but . . .

Colin Anderson joins Ali Khan as a co-manager to the fund.

10/14

FSSKX

Fidelity Advisor Stock Selector All Cap Fund

Gordon Scott is no longer on the fund

Peter Dixon joins the rest of the team

10/14

FVLAX

Fidelity Advisor Value Leaders Fund

Michael Chren is no longer listed as a portfolio manager

Sean Gavin is now listed as a portfolio manager

10/14

FBCVX

Fidelity Blue Chip Value Fund

Michael Chren is no longer listed as a portfolio manager

Sean Gavin is now listed as a portfolio manager

10/14

FIENX

Fidelity International Enhanced Index Fund

No one, but . . .

Shashi Naik joined Patrick Waddell, Louis Bottari, Maximilian Kaufmann, and Peter Matthew on the management team.

10/14

FLCEX

Fidelity Large Cap Core Enhanced Index Fund

No one, but . . .

Shashi Naik joined Patrick Waddell, Louis Bottari, Maximilian Kaufmann, and Peter Matthew on the management team.

10/14

FLGEX

Fidelity Large Cap Growth Enhanced Index Fund

No one, but . . .

Shashi Naik joined Patrick Waddell, Louis Bottari, Maximilian Kaufmann, and Peter Matthew on the management team.

10/14

FLVEX

Fidelity Large Cap Value Enhanced Index Fund

No one, but . . .

Shashi Naik joined Patrick Waddell, Louis Bottari, Maximilian Kaufmann, and Peter Matthew on the management team.

10/14

FMEIX

Fidelity Mid Cap Enhanced Index Fund

No one, but . . .

Shashi Naik joined Patrick Waddell, Louis Bottari, Maximilian Kaufmann, and Peter Matthew on the management team.

10/14

FNORX

Fidelity Nordic Fund

Per Johansson is no longer a listed manager

Stefan Lindblad takes over.

10/14

FSOFX

Fidelity Series Small Cap Opportunities Fund

Anmol Mehra no longer serves as a co-manager of the fund

The rest of the team remains

10/14

FCPEX

Fidelity Small Cap Enhanced Index Fund

No one, but . . .

Shashi Naik joined Patrick Waddell, Louis Bottari, Maximilian Kaufmann, and Peter Matthew on the management team.

10/14

FUSEX

Fidelity Spartan 500 Index Fund

No one, but . . .

Deane Gyllenhaal joins Patrick Waddell, Louis Bottari and Peter Matthew as a portfolio manager to the fund.

10/14

FDSSX

Fidelity Stock Selector All Cap Fund

Gordon Scott is no longer on the fund

Peter Dixon joins the rest of the team

10/14

SGENX

First Eagle Global Fund

Abhay Deshpande has resigned.  Deshpande originally co-managed the fund with the legendary Jean-Marie Evilliard (auto-correct hints “do you mean Evil Lizard?”)

Matthew McLennan and Kimball Brooker continue to manage the fund

10/14

SGOVX

First Eagle Overseas Fund

Abhay Deshpande has resigned.  Odd that the departure of such a senior manager has generated no commentary.

Matthew McLennan and Kimball Brooker continue to manage the fund

10/14

FEVAX

First Eagle U.S. Value Fund

Abhay Deshpande has resigned.

Matthew McLennan, Kimball Brooker, and Matthew Lamphier continue to manage the fund

10/14

GERAX

Goldman Sachs Emerging Markets Equity Insights Fund

Steve Jeneste is no longer serving as a portfolio manager to the fund.

James Park joins Dennis Walsh, Ronald Hua, William Fallon and Len Ioffe on the management team.

10/14

GMSAX

Goldman Sachs Managed Futures Strategy Fund

Steve Jeneste is no longer serving as a portfolio manager to the fund.

James Park joins William Fallon in managing the fund.

10/14

GSRAX

Goldman Sachs Rising Dividend Growth Fund

No one, but . . .

Michael Nix will join Jere Estes, C. Troy Shaver, and Ying Wang in managing the fund

10/14

ALPHX

Hatteras Alpha Hedged Strategies Fund

No one, but . . .

Lorem Ipsum Management and Blue Jay Capital Management have been added as subadvisors to the fund

10/14

HHSIX

Hatteras Hedged Strategies Fund

No one, but . . .

Lorem Ipsum Management and Blue Jay Capital Management have been added as subadvisors to the fund

10/14

HLSAX

Hatteras Long/Short Equity Fund

No one, but . . .

Lorem Ipsum Management and Blue Jay Capital Management have been added as subadvisors to the fund

10/14

INHAX

Inflation Hedges Strategy Fund

Commodity Strategies AG is no longer a subadvisor to the fund.

Taylor Investment Counselors joins as a subadvisor. New managers joining the team are Robert Holroyd, Michael Whitney, Ben Niedermeyer, and Christopher Blakely.

10/14

JDWAX

Janus Global Research Fund

James Goff will retire in mid-December.  Mr. Goff joined Janus in 1998, became head of research in 2002 and has led this fund for 8 years.

Carmel Wellso will take the lead over a group of sector team leaders consisting of Andrew Acker, Jean Barnard, Eileen Hoffmann, Brinton Johns, John Jordan, Kristopher Kelley, and Kenneth Spruell

10/14

JRAAX

Janus Research Fund

James Goff retire in mid-December

Carmel Wellso will take the lead here, too, with the same team as on JDWAX

 

SWOIX

Laudus International MarketMasters Fund

Mark Kopinski has been replaced …

… by Federico Laffan. The rest of the extensive team remains.

10/14

MASNX

Litman Gregory Masters Alternative Strategies Fund

No one, but . . .

Passport Capital, LLC is added as a sub-advisor, and John Burbank and Tim Garry are added as portfolio managers. The rest of the team remains.

10/14

PECZX

PIMCO Emerging Markets Corporate Bond Fund

Michael Gomez and Brigitte Posch are no longer listed as portfolio managers

Said Saffari becomes the sole portfolio manager

10/14

LCEMX

Pioneer Emerging Markets Local Currency Debt Fund

Esther Law is out

Hakan Aksoy remains

10/14

PMDEX

PMC Diversified Equity Fund

No one, but . . .

Adam Liebhoff joins the team.

10/14

PMSAX

Principal Global Multi-Strategy Fund

PIMCO is no longer a subadvisor to the fund

The rest of the team remains

10/14

PCGAX

Prudential Income Builder

Everyone. The whole team has turned over as Prudential shifts from sub-advisers to in-house management.  An odd choice, given that the sub-advisors were putting up exceptionally solid numbers.

The new team consists of Ted Lockwood, Edward Campbell, Rory Cummings, Ubong “Bobby” Edemeka, Shaun Hong, Paul Appleby, David Bessey, Robert Cignarella, Brian Clapp, Michael Collins, Cathy Hepworth, Terence Wheat, Robert Spano, Daniel Thorogood, Ryan Kelly, Marc Halle, Rick Romano, Gek Lang Lee, and Michael Gallagher.

10/14

TMFAX

Raylor Managed Futures Strategy Fund

Barry Cronin and Greg Cavallo are no longer listed as portfolio managers

Damon Hart and Gregory Rogers are newly listed as porfolio managers

10/14

RMRFX

Redmont Resolute Fund

Turner Investments is out as a subadvisor (that happens a lot), along with Christopher Baggini

PineBridge Investments joins as a subadvisor, bringing Michael Kelly to the team.

10/14

RSEIX

Royce Special Equity Fund

No one, but . . .

Steven McBoyle joined Charles Dreifus as an assistant portfolio manager

10/14

RMUIX

Royce Special Equity Multi-Cap Fund

No one, but . . .

Steven McBoyle joined Charles Dreifus as an assistant portfolio manager

10/14

SNOAX

Snow Capital Opportunity Fund

No one, but . . .

Jessica Bemer has joined Richard Snow and Nathan Snyder on the management team.

10/14

SNIAX

State Farm International Equity Fund

James Gendelman has resigned from Marsico “by mutual agreement” but for no stated reason and Marsico has been dropped.

Munish Malhotra, Edward Wendell Jr., James LaTorre, Jean-Francois Ducrest and Howard Appleby remain on the fund.

10/14

SLSAX

Sterling Capital Long/Short Equity Fund

Robert Sanborn – yes, that Robert Sanborn, the Oakmark legend – is no longer listed as a portfolio manager.

Charles Frumberg joins the team with new subadvisor, Emancipation Capital

10/14

FNAPX

Strategic Advisers Small-Mid Cap Multi-Manager Fund

No one, but . . .

Boston Company Asset Management has been added as the tenth subadviser to the fund

10/14

TCVAX

Touchstone Mid Cap Value Fund

Donald Cleven is no longer listed as a portfolio manager

R. Todd Vingers and Jay Willadsen take over as portfolio managers

10/14

FOBAX

Tributary Balanced Fund

No one, but . . .

Ronald Horner and Kurt Spieler joined Charles Lauber on the fund

10/14

VWIGX

Vanguard International Growth Fund

Greg Aldridge is no longer listed as a portfolio manager

Charles Anniss joins Kavé Sigaroudinia, Simon Webber, and James Anderson in running the fund.

10/14

IADEX

Voya Diversified Emerging Markets Debt Fund

No one, but . . .

Jean-Dominique Bütikofer joins Brian Timberlake and Matthew Toms

10/14

AESAX

Voya Small Company Fund

Steve Salopek will retire in June, 2015.

James Hasso and Joseph Basset will remain on the fund

10/14

NSPAX

Voya SmallCap Opportunities Fund

Steve Salopek will retire in June, 2015.

James Hasso and Joseph Basset will remain on the fund

10/14

 

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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.