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 |
| GASAX | Aberdeen Diversified Alternatives Fund | Allison Mortensen is no longer listed as a portfolio manager on the fund. | Michael Turner joins Richard Fonash in managing the fund. | 9/15 |
| GMAAX | Aberdeen Diversified Income Fund | Allison Mortensen is no longer listed as a portfolio manager on the fund. | Michael Turner joins Richard Fonash in managing the fund. | 9/15 |
| GMMAX | Aberdeen Dynamic Allocation Fund | Allison Mortensen is no longer listed as a portfolio manager on the fund. | Michael Turner joins Richard Fonash in managing the fund. | 9/15 |
| AMGAX | Alger Mid Cap Growth Fund | Brain Schulz is no longer listed as a portfolio manager on the fund. | Ankur Crawford, Teresa McRoberts, Christopher Walsh, Alex Goldman, and Michael Melnyk continue on. | 9/15 |
| FXDAX | Altegris Fixed Income Long Short Fund | James Nimberg has been removed as a portfolio manager of the fund. Additionally, Joe Lu is no longer listed as a portfolio manager on the fund. | Amin Majidi joins Kevin Schweitzer, Anilesh Ahuja, Eric Bundonis, Robert Murphy, Peter Reed, and David Steinbert in managing the fund. | 9/15 |
| ABIRX | American Beacon International Equity Fund | Kevin Durkin will no longer serve as a portfolio manager for the fund. | The rest of the extensive team remains. | 9/15 |
| ABSAX | American Beacon Small Cap Value Fund | E. Clifton Hoover is no longer a manager of the fund | The rest of the extensive team remains. | 9/15 |
| ARSSX | Aristotle Strategic Credit Fund | Michael Hatley is no longer listed as a portfolio manager on the fund. | Douglas Lopez and Terence Reidt will continue to run the fun | 9/15 |
| AARIX | ASTON/Harrison Street Real Estate Fund | Reagan Pratt is no longer listed as a portfolio manager on the fund. | James Kammert will continue on as the sole portfolio manager. | 9/15 |
| AHFAX | Aurora Horizons Fund | Kovitz Investment Group is out as a subadvisor to the fund | The portion of the fund formerly managed by Kovitz has been allocated to the adviser and other subadvisers. | 9/15 |
| BBTBX | Bridge Builder Bond | Douglas Swanson will be taking a leave of absence. | Barbara Miller will assume day-to-day management of the portion of the portfolio allocated to Douglas Swanson. The rest of the team remains. | 9/15 |
| Various | Calamos, various funds | Effective immediately, Gary Black will no longer be a member of the investment team managing any of the series of the Calamos Investment Trust. | The remainder of the teams will continue on. | 9/15 |
| HIIFX | Catalyst/SMH High Income Fund | Morgan Neff will no longer serve as a portfolio manager for the fund. | Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers | 9/15 |
| TRIFX | Catalyst/SMH Total Return Income Fund | Morgan Neff will no longer serve as a portfolio manager for the fund. | Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers | 9/15 |
| CMUAX | Columbia Mid Cap Value Fund | No one, but . . . | Nicolas Janvier joins Jonas Patrikson, Diane Sobin, and David Hoffman on the management team. | 9/15 |
| CMOTX | Context Macro Opportunities Fund | Douglas Dachille is no longer listed as a portfolio manager on the fund. | Mark Alexandridis, David Ho, Mattan Horowitz and Prasad Kadiyala continue to manage the fund. | 9/15 |
| DAREX | Dunham Real Estate Stock Fund | Scott Westphal will no longer serve as a portfolio manager for the fund. | David Wharmby is now the sole portfolio manager. | 9/15 |
| FSCRX | Fidelity Small Cap Discovery Fund | Charles Myers will be taking a leave of absence until the third quarter of 2016. | Derek Janssen has been named interim portfolio manager. | 9/15 |
| FAKSX | Frost Mid Cap Equity Fund | Luther King Capital Management is no longer a subadvisor to the fund. Paul Greenwell, J. Luther King, and Steven Purvis are no longer portfolio managers for the fund. | The advisor takes over management of the fund, with the team of Tom Stringfellow, AB Mendez, and Bob Bambace. | 9/15 |
| HLDAX | Hartford Emerging Markets Local Debt Fund | Tieu-Bich Nguyen will no longer serve as a portfolio manager. | James Valone, Evan Oullette and Michael Henry will remain as portfolio managers for the fund. | 9/15 |
| HSFAX | HSBC Frontier Markets Fund | Andrew Brudenell will no longer serve as a co-portfolio manager to the fund | Chris Turner will continue to serve as portfolio manager to the fund | 9/15 |
| PGBOX | JPMorgan Core Bond Fund | Douglas Swanson will be taking a leave of absence. | Barbara Miller will assume day-to-day management of the portion of the portfolio allocated to Douglas Swanson. The rest of the team remains. | 9/15 |
| KPLCX | KP Large Cap Equity Fund | No one, but . . . | AQR Capital Management and Panagora Asset Management have been added as additional subadvisers. | 9/15 |
| LEOOX | Lazard Enhanced Opportunities Portfolio | Christopher Sferruzzo is no longer listed as a portfolio manager on the fund. | Sean Reynolds and Frank Bianco will continue to run the fund. | 9/15 |
| LEQAX | LoCorr Long/Short Equity Fund | No one, but . . . | Kettle Hill Capital Management has been added as an additional subadviser. Andrew Kurita, of Kettle Hill, has joined the management team. | 9/15 |
| MYHAX | MainStay High Yield Opportunities Fund | From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. | Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. | 9/15 |
| MTRAX | MainStay Income Builder Fund | From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. | Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. | 9/15 |
| MASAX | MainStay Unconstrained Bond Fund | From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. | Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. | 9/15 |
| NMIEX | Northern Multi-Manager International Equity Fund | Northern Cross will no longer be a subadvisor to the fund. | The remainder of the extensive team carries on. | 9/15 |
| NMMCX | Northern Multi-Manager Mid Cap Fund | Systematic Financial Management will no longer be a subadvisor to the fund. | Vaughan Nelson Investment will join as a new subadvisor. | 9/15 |
| PXEAX | Pax World Global Environmental Markets Fund | Simon Gottelier is no longer listed as a portfolio manager on the fund. | Bruce Jenkyn-Jones and Hubert Aarts will carry on. | 9/15 |
| FMARX | Rx Tactical Rotation Fund (formerly the Rx MAR Tactical Conservative Fund) | The Board of Trustees approved a change in subadviser, removing BFP Capital Management, and bringing in Newfound Research. As a result, David Haviland will no longer serve as a portfolio manager for the fund. The change has been approved, in writing, by the fund’s sole shareholder. | Corey Hoffstein and Justin Sibears will continue to manage the fund. | 9/15 |
| SMHRX | SMH Representation Trust | Morgan Neff will no longer serve as a portfolio manager for the fund. | Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers | 9/15 |
| FNAPX | Strategic Advisers Small-Mid Cap Fund | No one, but . . . | AllianceBernstein L.P. has been added as an eleventh subadvisor to the fund. | 9/15 |
| FVSAX | Strategic Advisers Value Fund | Kristina Stookey is no longer listed as a portfolio manager on the fund. | Gopalakrishnan Anantanatarajan has joined the other dozen managers on the team. | 9/15 |
| TSWEX | TS&W Equity Portfolio | Elizabeth Cabell Jennings and Paul Ferwerda are no longer serving as portfolio managers to the fund. | Brett Hawkins, S. Preston Dillard and G. Gary Garland are now managing the fund. | 9/15 |
| VFSVX | Vanguard FTSE All-World ex-US Small-Cap Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Jeffrey Miller takes over management of the fund. | 9/15 |
| VMGAX | Vanguard Mega Cap Growth Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Gerard O’Reilly takes over management of the fund. | 9/15 |
| VMVLX | Vanguard Mega Cap Value Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Gerard O’Reilly takes over management of the fund. | 9/15 |
| VRTGX | Vanguard Russell 2000 Growth Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Walter Nejman takes over management of the fund. | 9/15 |
| VRTIX | Vanguard Russell 2000 Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Walter Nejman takes over management of the fund. | 9/15 |
| VRTVX | Vanguard Russell 2000 Value Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Walter Nejman takes over management of the fund. | 9/15 |
| IEDAX | Voya Large Cap Value Fund | Robert Kloss is no longer listed as a portfolio manager on the fund. | Christopher Corapi, Vincent Costa, and Kristy Finnegan remain on the team. | 9/15 |
| AIMAX | Voya Mid Cap Value Advantage Fund | Robert Kloss is no longer listed as a portfolio manager on the fund. | Christopher Corapi, Vincent Costa, and Kristy Finnegan remain on the team. | 9/15 |
| WAAEX | Wasatch Small Cap Growth Fund | No one, but . . . | Effective February 1, 2016, JB Taylor will be the lead manager of the fund and Jeff Cardon will be a portfolio manager of the fund. | 9/15 |
| WVLEX | Worthington Value Line (formerly Worthington Value Line Equity Advantage Fund) | No one, but . . . | Liane Rosenberg joins Cindy Starke in managing the fund. | 9/15 |
