July 2016 IssueLong scroll reading

Manager changes, June 2016

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
ARDWX Aberdeen Multi-Manager Alternative Strategies Fund II CQS (US), LLC is no longer listed as a subadvisor for the fund. The other nine subadvisors remain. 6/16
RGSAX AllianzGI Global Small-Cap Fund John McCraw is no longer listed as a portfolio manager for the fund. Dennis Lai, Andrew Neville, Koji Nakatsuka, K. Matthew Axline, Frank Hansen, Robert Marren, Bjoern Mehrmann, Stephen Lyford and Yao Zhang Li will continue to manage the fund. 6/16
AMCIX AllianzGI Micro Cap Fund John McCraw is no longer listed as a portfolio manager for the fund. Robert Marren, K. Matthew Axline, Stephen Lyford and Blake Burdine will continue to manage the fund. 6/16
AZBAX AllianzGI Small-Cap Blend Fund John McCraw is no longer listed as a portfolio manager for the fund. Kunal Ghosh, Robert Marren and Mark Roemer will continue to manage the fund. 6/16
AEMIX AllianzGI U.S. Small-Cap Growth Fund John McCraw is no longer listed as a portfolio manager for the fund. Robert Marren, K. Matthew Axline, Stephen Lyford and Blake Burdine will continue to manage the fund. 6/16
AUMIX AllianzGI Ultra Micro Cap Fund John McCraw is no longer listed as a portfolio manager for the fund. Robert Marren, K. Matthew Axline, Stephen Lyford and Blake Burdine will continue to manage the fund. 6/16
ELSAX Altegris Equity Long Short Fund Robert Kim was removed as a portfolio manager and Visium Asset Management has been terminated as a subadvisor to the fund. Cramer Rosenthal McGlynn, LLC has been added as a subadvisor to the fund and Jay Abramson has been added as a portfolio manager. Edgardo Goldaracena, Emmanuel Ferreira, Eric Bundonis, Richard Chilton and Kelly Wiesbrock will remain continue to manage the fund. 6/16
ABSAX American Beacon Small Cap Value Fund Dreman Value Management will no longer subadvise the fund. The remaining five subadvisors will be joined by Foundry Partners, LLC. The management team will remain in place, although Mark Roach and Mario Tufano, who are currently employed by Dreman, will become employees of Foundry. 6/16
ACFSX American Century Investments Focused Dynamic Growth Fund Stephen Pool is no longer listed as a portfolio manager for the fund. The new team is Henry He, Keith Lee, Michael Li and Prabha Ram. 6/16
ATVAX Athena Value Fund AthenaInvest is no longer subadvising the fund, although there may be a new agreement in the works. Andrew Howard and C. Thomas Howard are no longer listed as portfolio managers for the fund. Greg Anderson and John Sabre are managing the fund. 6/16
BXGAX Babson Global High Yield Fund No one, but … Craig Abouchar joins Martin Horne, Scott Roth, Michael Freno and Sean Feeley in managing the fund. 6/16
BURFX Burnham Financial Long/Short Fund Burnham Asset Management will no longer advise the fund. RMB Capital Management will be an interim advisor for the fund and Mendon Capital Advisors will be an interim subadvisor 6/16
BURKX Burnham Financial Services Fund Burnham Asset Management will no longer advise the fund. RMB Capital Management will be an interim advisor for the fund and Mendon Capital Advisors will be an interim subadvisor 6/16
BURHX Burnham Fund Burnham Asset Management will no longer advise the fund. RMB Capital Management will be an interim advisor for the fund and Mendon Capital Advisors will be an interim subadvisor 6/16
CCAFX Calvert Capital Accumulation New Amsterdam Partners has been removed as a subadvisor to the fund. Michelle Clayman and Nathaniel Paull will no longer serve as portfolio managers for the fund. The new team is Jade Huang, Joshua Linder, Christopher Madden and Kurt Moeller. 6/16
CACOX Congress All Cap Opportunity Fund Effective immediately, Peter Anderson no longer serves as a portfolio manager for the fund. John Beaver joins Matthew Lagan in managing the fund. 6/16
RPFCX Davis Appreciation & Income Fund Keith Sabol and Andrew Davis have been removed as portfolio managers. The new team is Christopher Davis, Creston King and Peter Sackmann 6/16
DEFIX Delafield Fund No one, but … Lead managers, J. Dennis Delafield and Vincent Sellechia, are being joined by Joshua Kaufthal and James Maxwell. 6/16
FUTEX Discretionary Managed Futures Strategy John Milne has resigned from sub-advisor, JKMilne Asset Management, and from his role as portfolio manager to the fund. At the same time, JKMilne will no longer subadvise the fund. Brian Borneman and Deborah Wingerson will no longer serve as portfolio managers to the fund. Robert Vear will continue to manage the fund. The Board of Trustees of the fund will consider alternatives regarding the fund’s future at their August board meeting. 6/16
HRCVX Eagle Growth & Income Fund Jeff Vancavage has resigned from his portfolio manager role. David Blount, Edmund Cowart and Harald Hvideberg will continue to manage the fund. 6/16
FCVSX Fidelity Convertible Securities Fund Thomas Soviero is no longer listed as a portfolio manager for the fund. It’s possible he’s been asked to focus exclusively on his sinking flagship fund. Adam Kramer takes over as portfolio manager. 6/16
FMCAX Fidelity Stock Selector Mid Cap Fund Rayna Lesser is no longer listed as a portfolio manager for the fund. Christopher Lin joins Edward Yoon, Samuel Wald, Pierre Sorel, Douglas Simmons, Gordon Scott, Shadman Riaz and Monty Kori on the management team. 6/16
FAAR First Trust Alternative Absolute Return Strategy ETF Daniel Lindquist, Jon Erickson, David McGarel and Roger Testin will no longer serve as portfolio managers for the fund. John Gambla and Rob Guttshow will now serve as managers to the fund. 6/16
GNLIX Geneva Advisors Emerging Markets Fund Eswar Menon will no longer serve as a portfolio manager for the fund. Reiner Triltscht and Matthew Sherer will continue to manage the fund. 6/16
GDDAX Goldman Sachs Dynamic Emerging Markets Debt Fund Yacov Arnopolin no longer serves as a portfolio manager for the fund. Samuel Finkelstein continues to manage the fund 6/16
GOIAX Goldman Sachs Growth and Income Fund Andrew Braun will no longer serve as a portfolio manager for the fund. Sean Gallagher and John Arege will continue to manage the fund. 6/16
GSBFX Goldman Sachs Income Builder Fund Andrew Braun will no longer serve as a portfolio manager for the fund. Lale Topcuoglu is no longer listed as a portfolio manager for the fund. Daniel Lochner, Charles Dane, Colin Bell, Ronald Arons and David Beers will continue to manage the fund. 6/16
GSLAX Goldman Sachs Large Cap Value Fund Andrew Braun will no longer serve as a portfolio manager for the fund. Sean Gallagher, Charles Dane and John Arege will continue to manage the fund. 6/16
GCMAX Goldman Sachs Mid Cap Value Fund Andrew Braun will no longer serve as a portfolio manager for the fund. Sean Gallagher, Timothy Ryan and Sung Cho will continue to manage the fund. 6/16
IRNIX IRON Strategic Income Fund No one, but … Edward Connolly, Joe Fanaro and Ramesh Poola join Daniel Sternberg and Aaron Izenstark in managing the fund. 6/16
JDMAX Janus Enterprise No one, but … Cody Wheaton has been added as a co-portfolio manager, joining Brian Demain. 6/16
JGMAX Janus Triton Fund No one, but … Scott Stutzman has been added as a co-portfolio manager, joining Jonathan Coleman 6/16
JVTAX Janus Venture Fund No one, but … Scott Stutzman has been added as a co-portfolio manager, joining Jonathan Coleman 6/16
JSFBX John Hancock Seaport Fund No one, but … Keith White joins the other dozen managers of the fund. 6/16
JHUAX John Hancock U.S. Equity Fund, soon to be the U.S. Growth Fund No one, but …. Wellington Management Company will be replacing Grantham, Mayo, Van Otterloo & Co as a subadvisor to the fund at the end of August. In the meantime, John Boselli of Wellington has been added to the management team. 6/16
JLCAX JPMorgan U.S. Large Cap Core Plus Fund No one, but … Scott Davis joined Susan Bao and Thomas Luddy on the management team. 6/16
SWOSX Laudus Small-Cap MarketMasters Fund BMO Asset Management Corp is no longer a subadvisor to the fund. Kenneth Salmon and Diane Jaffee are no longer listed as portfolio managers for the fund. David Daglio joins Shaun Pedersen, Timothy McCormack, Karen Wong, Thomas Durante, Richard Brown and Omar Aguilar on the management team. 6/16
MNILX Litman Gregory Masters International Fund No one, but … Pictet Asset Management will be added as a subadvisor and Fabio Paolini and Benjamin Beneche will join the management team. 6/16
NMMEX Northern Multimanager Emerging Markets, now renamed Northern Active M Emerging Markets Equity Fund. Oaktree Capital Management and Pzena Investment Management will no longer serve as subadvisors to the fund The management team remains the same. 6/16
NMHYX Northern Multi-Manager High Yield Opportunity Fund Loomis, Sayles & Co is no longer a subadvisor to the fund. Nomura Corporate Research and Asset Management will be added as a subadvisor. The management team remains the same for now. 6/16
NMIEX Northern Multi-Manager International Equity, now renamed Northern Active M International Equity Altrinsic Global Advisors, Earnest Partners, NFJ Investment Group and William Blair Investment Management are no longer listed as subadvisors to the fund. Cambiar Investors, Causeway Capital Management, and Victory Capital Management will be added as subadvisors. The management team remains the same for now. 6/16
OHYDX Oaktree High Yield Bond Fund No one, but … James Turner has joined David Rosenberg, Shannon Ward, Sheldon Stone 6/16
OBCHX Oberweis China Opportunities Fund John Wong is no longer listed as a portfolio manager for the fund. Barry Wang joins James Oberweis in managing the fund. 6/16
USBNX Pear Tree Polaris Small Cap Fund No one, but … Jason Cranshaw has joined Bernard Horn, Sumanta Biswas and Bin Xiao on the management team for the fund. 6/16
RSQVX RSQ International Equity Fund Rudolph-Riad Younes had been replaced … … by Junichi Nonami. Richard Pell remains. 6/16
MGMAX RX Mar Tactical Growth Fund James Breech is no longer listed as a portfolio manager for the fund. Charles McNally is joined by Deborah Frame in managing the fund. 6/16
MGZAX RX Mar Tactical Moderate Growth Fund James Breech is no longer listed as a portfolio manager for the fund. Charles McNally is joined by Deborah Frame in managing the fund. 6/16
RXTAX RX Tactical Rotation Fund D. Jerry Murphey and Steven Wruble are no longer listed as portfolio managers for the fund. Corey Hoffstein and Justin Sibears are joined by Charles McNally 6/16
SANAX Sandalwood Opportunity Fund Shelley Greenhaus, Steven Gendal and Norman Louie are no longer listed as portfolio managers for the fund. John Sabre, Howard Needle, Andrew Kuan, David Harris, John Harnisch, Martin Gross, Bryan Dunn, Michael Craig-Scheckman, Scott Burg and Greg Anderson remain. 6/16
TSELX Tocqueville Select Fund No one, but … Lead managers, J. Dennis Delafield and Vincent Sellechia, are being joined by Joshua Kaufthal and James Maxwell. 6/16
TMSFX Turner Medical Sciences Long/Short Fund Michael Tung is no longer listed as a portfolio manager for the fund. John Fraunces is now the sole portfolio manager for the fund. 6/16
TMGFX Turner MidCap Growth Fund Christopher Baggini is no longer listed as a portfolio manager for the fund. Christopher McHugh will continue to manage the fund 6/16
TSCEX Turner Small Cap Growth Fund Richard Gould is no longer listed as a portfolio manager for the fund. Jason Schrotberger will continue to manage the fund 6/16
TMCGX Turner SMID Cap Growth Opportunities Fund Richard Gould is no longer listed as a portfolio manager for the fund. Jason Schrotberger will continue to manage the fund 6/16
TSPCX Turner Titan Long/Short Fund Christopher Baggini is no longer listed as a portfolio manager for the fund. Scott Swickard will continue to manage the fund 6/16
BNIEX UBS International Sustainable Equity Fund Shari Gilfillan will no longer serve as a portfolio manager for the fund. Bruno Bertocci is joined by Joseph Elegante on the management team. 6/16
VGENX Vanguard Energy Fund Karl Bandtel will retire from Wellington Management Company, a subadvisor, in June 2016. James Troyer is no longer listed as a portfolio manager for the fund. Binbin Guo joins Gregory LeBlanc, James Stetler, and Michael Roach in managing the fund. 6/16
IIGIX Voya Multi-Manager International Equity Fund No one, but … Demetris Georghiou and Georgina Perceval Maxwell join the extensive management team. 6/16
WAFMX Wasatch Frontier Emerging Small Countries Fund Laura Geritz is no longer listed as a portfolio manager for the fund. Jaren Whatcott is joined by Scott Thomas and Roger Edgley. Mssr. Edgley will take over as lead manager on the team. 6/16
WARAX Wells Fargo Absolute Return Fund No one, immediately, but Sam Wilderman has announced his intention to leave GMO and the fund at the end of the year. There are no immediate changes to the management team. 6/16
EAAFX Wells Fargo Asset Allocation Fund No one, immediately, but Sam Wilderman has announced his intention to leave GMO and the fund at the end of the year. There are no immediate changes to the management team. 6/16
WAUAX Western Asset Total Return Unconstrained Fund Christopher Orndorff is no longer listed as a portfolio manager for the fund. Michael Buchanan, S. Kenneth Leech, Mark Lindbloom, Chia-Liang Lian and Anup Agarwal will continue to manage the fund. 6/16
DTLVX Wilshire Large Company Value Portfolio D. Kevin McCreesh and Ronald Mushock are no longer listed as portfolio managers for the fund. R. Lewis Ropp, Brian Quinn and J. Ray Nixon join Benjamin Silver, Thomas Stevens, Hal Reynolds, Daniel Allen, Richard Penza and John Goets on the management team. 6/16

 

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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.