October 2016 IssueLong scroll reading

Manager Changes

By Chip

DoubleLine picks up the pieces after Bonnie Baha’s tragic death, Scott Satterwhite retires at Artisan, some turnover at Osterweis, Miller/Howard resigns for the Miller/Howard fund, Giralda steps away from the Giralda Fund and 60 other changes.

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
ACEVX American Century Disciplined Growth Yulin Long will no longer serve as a portfolio manager for the fund. Elizabeth Xie and Vinod Chandrashekaran continue to manage the fund. 9/16
ARTQX Artisan Mid Cap Value Fund Scott Satterwhite retires on October 14, 2016. James Kieffer, George Sertl and Daniel Kane will continue to manage the fund. 9/16
ARTLX Artisan Value Fund Scott Satterwhite retires on October 14, 2016. James Kieffer, George Sertl and Daniel Kane will continue to manage the fund. 9/16
AMMCX ASTON/Montag & Caldwell Mid Cap Growth Fund Jeffrey Wilson no longer serves as a portfolio manager of the fund. M. Scott Thompson will continue to manage the fund. 9/16
ATVAX Athena Value Fund Greg Anderson and John Sabre are no longer listed as portfolio managers for the fund. Andrew Howard and C. Thomas Howard will now manage the fund 9/16
BGIOX Baillie Gifford International Equity Fund No one, but … Jenny Davis joins Andrew Strathdee, Gerald Smith, Angus Franklin, Donald Farquharson and Jonathan Bates in managing the fund. 9/16
BDSYX BMO Aggressive Allocation Fund Alan Schwartz intends to retire at the end of the year. Lowell Yura and Jon Adams will continue to manage the fund. 9/16
BGRYX BMO Balanced Allocation Fund Alan Schwartz intends to retire at the end of the year. Lowell Yura and Jon Adams will continue to manage the fund. 9/16
BDVYX BMO Conservative Allocation Fund Alan Schwartz intends to retire at the end of the year. Lowell Yura and Jon Adams will continue to manage the fund. 9/16
BABYX BMO Growth Allocation Fund Alan Schwartz intends to retire at the end of the year. Lowell Yura and Jon Adams will continue to manage the fund. 9/16
BTRYX BMO In-Retirement Fund Alan Schwartz intends to retire at the end of the year. Lowell Yura and Jon Adams will continue to manage the fund. 9/16
BMBYX BMO Moderate Allocation Fund Alan Schwartz intends to retire at the end of the year. Lowell Yura and Jon Adams will continue to manage the fund. 9/16
Various BMO Target Retirement Series Alan Schwartz intends to retire at the end of the year. Lowell Yura and Jon Adams will continue to manage the fund. 9/16
BGLAX Brookfield Global Listed Infrastructure Fund Sam Arnold will no longer serve as a portfolio manager for the fund. Craig Noble will be joined by Leonardo Anguiano in managing the fund. 9/16
RASAX Brookfield Real Assets Securities Fund Sam Arnold will no longer serve as a portfolio manager for the fund. Leonardo Anguiano will join the rest of the team, Larry Antonatos, Mark Shipley, Nicholas Pope, Craig Noble, Bernhard Krieg, Stavros Koutsantonis, Dana Erikson and Jason Baine. 9/16
CISMX Clarkston Partners Fund Jeremy Modell is no longer listed as a portfolio manager for the fund. Gerald Hakala and Jeffrey Hakala will continue to manage the fund. 9/16
QWVPX Clearwater Core Equity Fund Matthew Berler and Alexander  Kovriga will no longer serve as a portfolio managers for the fund. Fifteen other managers remain. 9/16
CTFAX Columbia Thermostat Fund Christopher Olson will retire at the end of the year. David Frank will continue to run the fund as the sole portfolio manager. 9/16
FTICX Deutsche Communications Fund Brendan O’Neill will no longer serve as a portfolio manager, effective October 29, 2016. Owen Fitzpatrick and Thomas Hynes will no longer serve, effective November 29, 2016 Pankaj Bhatnagar will continue to manage the fund. 9/16
DURAX Deutsche European Equity Fund No one, but … Dirk Aufderheide has been added as portfolio manager of the fund and will join Britta Weidenbach, Mark Schumann, Gerd Kirsten, and Christian Reuter in the day-to-day management of the fund. 9/16
DBISX Deutsche Global Equity Fund Brendan O’Neill will no longer serve as a portfolio manager, effective October 29, 2016. Mark Schumann and Sebastian Werner will continue to manage the fund. 9/16
KTRAX Deutsche Global Income Builder Fund Walter Holman will no longer serve as a portfolio manager, effective October 29, 2016. Gary Russell, John Ryan, Darwei Kung and Fabian Degen will continue to run the fund. 9/16
SUHAX Deutsche Health and Wellness Fund Brendan O’Neill will no longer serve as a portfolio manager, effective October 29, 2016. Leefin Lai, Thomas Hynes, Peter Barsa and Michael Sesser will continue to manage the fund. 9/16
SGGAX Deutsche Large Cap Focus Growth Fund Brendan O’Neill will no longer serve as a portfolio manager, effective October 29, 2016. Owen Fitzpatrick and Thomas Hynes will no longer serve, effective November 29, 2016 Not sure who’s left. 9/16
KDCAX Deutsche Large Cap Value Fund Brendan O’Neill  and Walter Holman will no longer manage the fund, effective October 29, 2016. Not sure who’s left. 9/16
KTCAX Deutsche Science and Technology Fund Nicholas Daft will no longer manage the fund, effective October 29, 2016. Nataly Yackanich will continue to manage the fund. 9/16
SERAX Deutsche World Dividend Fund Walter Holman will no longer serve as a portfolio manager, effective October 29, 2016. Fabian Degen and Sebastian Werner will continue to run the fund. 9/16
DBLFX DoubleLine Core Fixed Income Fund No one, but … Jeffrey Sherman joins Jeffrey Gundlach in managing the fund. 9/16
DFLEX DoubleLine Flexible Income Fund No one, but … Jeffrey Sherman joins Jeffrey Gundlach in managing the fund. 9/16
DBFRX DoubleLine Floating Rate Fund Bonnie Baha Robert Cohen 9/16
DBLSX DoubleLine Low Duration Bond Fund Bonnie Baha Robert Cohen joins Philip Barach and Luz Padilla on the management team. 9/16
DMLAX DoubleLine Multi-Asset Growth Fund Bonnie Baha and Luz Padilla Samuel Garza, Jeffrey Sherman and Jeffrey Gundlach will continue to manage the fund. 9/16
DBULX DoubleLine Ultra Short Bond Fund Bonnie Baha Monica Erikson joins Jeffrey Lee in managing the fund. 9/16
ETGIX Eaton Vance Greater India Fund Rishikesh Patel is no longer listed as a portfolio manager for the fund. Prashant Khemka will now run the fund. 9/16
FNCMX Fidelity Nasdaq Composite Index Fund No one, but … Thomas Brussard joins Peter Matthew, Louis Bottari, Patrick Waddell and Deane Gyllenhaal in running the fund. 9/16
FSHOX Fidelity Select Construction and Housing Portfolio Holger Boerner is no longer listed as a portfolio manager for the fund. Neil Nabar will manage the fund. 9/16
FFIOX FormulaFolios US Equity Fund Aaron Johnson will no longer serve as a portfolio manager for the fund. Jason Wenk, Ryan Wheless and Keith Springer are joined by Brandon Graetz on the management team. 9/16
FCIVX Frontier MFG Core Infrastructure Fund Stephen Mentzines is no longer a portfolio manager of the fund. Dennis Eager and Gerald Stack continue to serve as portfolio managers to the fund. 9/16
GDAMX Giralda Fund, whose name will become AlphaCore Absolute Fund on October 3rd. Jerry Miccolis and Gladys Chow will no longer serve as portfolio managers for the fund. Jonathan Belanger and Richard Pfister will manage the renamed fund. 9/16
GSCZX Guidestone Small Cap Equity Fund Columbus Circle Investors is no longer an advisor to the fund. Katerina Wasserman and Clifford Fox are no longer listed as portfolio managers The rest of the team remains 9/16
HIIDX Harbor Diversified International All Cap Fund No one, but … Effective September 22, 2016, Simon Somerville joined Neil Ostrer, William Arah, Charles Carter, Nick Longhurst, Michael Godfrey, David Cull and Robert Anstey as portfolio manager for the fund. 9/16
FLRUX Infrastructure Fund, formerly Miller/Howard Infrastructure fund. The subadvisor, Miller/Howard Investments, Inc., has resigned from the fund. As a result, Lowell Miller and Bryan Spratt are out. The fund will be managed by the team of Robert Meeder, Dale Smith, Clinton Brewer, Jonathan Tremmel and Angelo Manzo. 9/16
ANTVX NT American Century Disciplined Growth Yulin Long will no longer serve as a portfolio manager for the fund. Elizabeth Xie and Vinod Chandrashekaran continue to manage the fund. 9/16
OWSOX Old Westbury Strategic Opportunities Fund Effective on October 15, 2016, Franklin Advisers, Inc. will no longer be a sub-adviser for the fund. The other subadvisor will remain. 9/16
OALVX Optimum Large Cap Value Fund It’s anticipated that Herndon Capital Management will no longer subadvise the fund, effective early October. Rothschild Asset Management has been added as a subadvisor to the fund. 9/16
OSTFX Osterweis Fund Matthew Berler and Alexander Kovriga will no longer serve as portfolio managers to the fund. Nael Fakhry, Gregory Hermanski and John Osterweis will continue to manage the fund. 9/16
OSTEX Osterweis Institutional Equity Fund Matthew Berler and Alexander Kovriga will no longer serve as portfolio managers to the fund. Nael Fakhry, Gregory Hermanski and John Osterweis will continue to manage the fund. 9/16
OSTVX Osterweis Strategic Investment Fund Matthew Berler and Alexander Kovriga will no longer serve as portfolio managers to the fund. Simon Lee, Bradley Kane, Carl Kaufman, Nael Fakhry, Gregory Hermanski and John Osterweis will continue to manage the fund. 9/16
ENIAX SEI Opportunistic Income Fund Brookfield Asset Management is no longer listed as an advisor to the fund. Schroder Investment Management and Michelle Russell-Dowe join the rest of the team. 9/16
SNOAX Snow Capital Opportunity Fund Nathan Snyder has resigned from Snow Capital Management and will no longer serve as a portfolio manager for the fund. Anne Wickland will join Richard Snow and Jessica Bemer in managing the fund. 9/16
TELCX TIAA-CREF Enhanced Large-Cap Value Index Fund Michael Shing is no longer a portfolio manager of the fund. James Johnson joins Max Kozlov in managing the fund. 9/16
TNRLX TIAA-CREF Global Natural Resources Fund Navaneel Ray is no longer listed as a portfolio manager for the fund. Jeff Bellman and Dhaval Patel will now run the fund. 9/16
TEQAX Touchstone Sustainability and Impact Equity Fund Farha-Joyce Haboucha will no longer serve as a portfolio manager for the fund. David Harris and Jimmy Chang will continue to serve as portfolio managers of the fund. 9/16
USCAX USAA Small Cap Stock Fund Maria Mendelsberg will no longer serve as a portfolio manager for the fund. The rest of the team remains 9/16
PDPAX Virtus Alternatives Diversifier Fund Euclid Advisors LLC has been removed as subadviser. David Dickerson, Carlton Neel and Amy Robinson will no longer serve as  portfolio managers for the fund. Warun Kumar will manage the fund. 9/16
PHBLX Virtus Balanced Fund Euclid Advisors LLC has been removed as subadviser. David Dickerson and Carlton Neel  will no longer serve as  portfolio managers for the fund. Douglas Foreman joins Frederick Brimberg, Christopher Kelleher and David Albrycht in running the fund. 9/16
VAPAX Virtus Equity Trend Fund Euclid Advisors LLC has been removed as subadviser. Amy Robinson will no longer serve as  portfolio manager for the fund. Warun Kumar, Brendan Finneran, Robert Hofeman and Michael Davis will manage the fund. 9/16
VGPAX Virtus Global Equity Trend Fund Euclid Advisors LLC has been removed as subadviser. Amy Robinson will no longer serve as  portfolio manager for the fund. Warun Kumar, Brendan Finneran, Robert Hofeman and Michael Davis will manage the fund. 9/16
VIEAX Virtus International Equity Fund Euclid Advisors LLC has been removed as subadviser. Duff & Phelps Investment Management Co. is the new subadvisor to the fund. Frederick Brimberg, who is a portfolio manager for both the previous and the current subadvisor, will remain as portfolio manager for the fund. 9/16
VLVAX Virtus Low Volatility Equity Fund No one, but … Michael Davis and Warun Kumar are added as portfolio managers of the fund, joining Brendan Finneran and Robert Hofeman. 9/16
VAAAX Virtus Multi-Asset Trend Fund Euclid Advisors LLC has been removed as subadviser. Amy Robinson will no longer serve as  portfolio manager for the fund. Warun Kumar, Brendan Finneran, Robert Hofeman and Michael Davis will manage the fund. 9/16
PWBAX Virtus Sector Trend Fund Euclid Advisors LLC has been removed as subadviser. Amy Robinson will no longer serve as  portfolio manager for the fund. Warun Kumar, Brendan Finneran, Robert Hofeman and Michael Davis will manage the fund. 9/16
NAINX Virtus Tactical Allocation Fund Euclid Advisors LLC has been removed as subadviser. David Dickerson and Carlton Neel  will no longer serve as  portfolio managers for the fund. Douglas Foreman joins Frederick Brimberg and David Albrycht in running the fund. 9/16
WFSMX Wells Fargo Intrinsic Small Cap Value Fund Effective immediately, Samir Sikka and Alex Alvarez are removed as portfolio managers to the fund. Ann Miletti will now manage the fund. 9/16

 

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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.