September 2017 IssueLong scroll reading

Manager changes, August 2017

By Chip

This month saw partial or complete manager changes at 57 funds. The most consequential occurred at American Beacon Holland Large Cap Growth Fund, following the decision by Holland Capital Management to close after a long and honorable run. That team’s departure occasions a change in the fund’s strategy as well as in its management.

As to the other 56 funds … meh. In the case of Cornerstone Advisors Global Public Equity, which saw the departure of one of 47 managers from one of 14 sub-advisers, the change doesn’t even rise to the level of “meh.” (Nice fund, though.)

Ticker Fund Out with the old In with the new Dt
REPOX AAAMCO Ultrashort Financing Fund Robert McDonough will no longer serve as a portfolio manager for the fund. The fund is not even three months old. Sean Kelleher and Yung Lim will continue to manage the fund. 8/17
GOPAX Aberdeen China Opportunities Fund Frank Tian is no longer listed as a portfolio manager for the fund. Hugh Young, Nicholas Yeo, Flavia Cheong, Kathy Xu, and Nicholas Chui will continue to manage the fund. 8/17
ACDJX AC Alternatives Disciplined Long Short Fund No one, but . . . Tsuyoshi Ozaki has joined Yulin Long in managing the fund. 8/17
ACOIX AC ONE China Fund Institutional Class Wonmyoung Lee is no longer serving as a portfolio manager of the fund. Woon Sang Baik, Patrick Pascal, Frederick Ruopp, Sr., and Frederick Ruopp, Jr. will continute to manage the fund. 8/17
ABFAX American Beacon Balanced Fund Effective February 28, 2018, John Williams will retire from his position as a portfolio manager. The rest of the extensive team remains. 8/17
LHGFX American Beacon Holland Large Cap Growth Fund, which will renamed as the American Beacon HSMP Quality Growth Fund As a result of the closing of Holland Capital, Monica Walker and Carl Bhathena are out. Harry Segalas will manage the renamed fund. 8/17
ABMAX American Beacon Mid-Cap Value Fund Eli Rabinowich will no longer serve as a portfolio manager for the fund. Ben Silver will join Richard Pzena and John Flynn in managing the fund. 8/17
ADSIX American Century Disciplined Growth Fund Lynette Pang has not managed the fund since May. Tsuyoshi Ozaki has joined Yulin Long in managing the fund. 8/17
MECIX AMG Managers Cadence Emerging Companies Fund Stephen Demirjian will no longer serve as a portfolio manager for the fund. Robert Fitzpatrick, Michael Skillman, and Robert Ginsberg will continue to manage the fund. 8/17
MCMAX AMG Managers Cadence Mid Cap Fund Stephen Demirjian will no longer serve as a portfolio manager for the fund. Robert Fitzpatrick, Michael Skillman, and Robert Ginsberg will continue to manage the fund. 8/17
BDFFX Baron Discovery Fund Cliff Greenberg, who used to be listed as the “portfolio manager advisor,” will no longer serve in that role. Laird Bieger and Randolph Gwirtzman will continue to manage the fund. 8/17
BGCAX BlackRock Global Long/Short Credit Fund Michael Phelps announced his plans to leave BlackRock, Inc. on December 31, 2017. Jose Aguilar, Stephen Gough and Carly Wilson have been added as portfolio managers of the fund, joining Mssr. Phelps and Joshua Tarnow. 8/17
CCBAX City National Rochdale Corporate Bond Fund Effective immediately, William Miller is no longer a portfolio manager of the fund David Krouth will continue to manage the fund. 8/17
RIMOX City National Rochdale Fixed Income Opportunities Fund Effective immediately, William Miller is no longer a portfolio manager of the fund The other 14, or so, managers remain. 8/17
RIMCX City National Rochdale Intermediate Fixed Income Fund Effective immediately, William Miller is no longer a portfolio manager of the fund David Krouth will continue to manage the fund. 8/17
CAGLX Cornerstone Advisors Global Public Equity Fund Mark Wilkerson no longer serves as a portfolio manager of the fund. The other 46(!!!!) managers remain. They are joined by Justin Kass. 8/17
CAIOX Cornerstone Advisors Income Opportunities Fund Mark Wilkerson no longer serves as a portfolio manager of the fund. The other 10 managers remain. They are joined by Justin Kass. 8/17
CAALX Cornerstone Advisors Public Alternatives Fund Mark Wilkerson no longer serves as a portfolio manager of the fund. The other 17 managers remain. They are joined by Justin Kass. 8/17
CAREX Cornerstone Advisors Real Assets Fund Mark Wilkerson no longer serves as a portfolio manager of the fund. The other 8 managers remain. They are joined by Justin Kass. 8/17
DFDSX DF Dent Small Cap Growth Fund Austin Root is no longer a portfolio manager of the fund.  Matthew Dent and Gary Wu will continue to manage the fund. 8/17
FCNIX Fidelity Advisor Consumer Discretionary Fund Peter Dixon no longer serves as manager of the fund. Katherine Shaw has taken over management of the fund. 8/17
FDYIX Fidelity Advisor Global Strategies Fund Chris Sharpe will no longer serve as a portfolio manager for the fund. Geoffrey Stein will now manage the fund. 8/17
FBALX Fidelity Balanced Fund Peter Dixon no longer serves as co-manager of the fund. The rest of the team remains. 8/17
FCUTX Fidelity Flex Small Cap Fund Eirene Kontopoulos, Morgen Peck, and Shadman Riaz no longer serve as co-managers of the fund, after less than six months of service. Clint Lawrence joins Richard Thompson and Patrick Venanzi on the management team. 8/17
FIGFX Fidelity International Growth Fund No one. But, current manager Jed Weiss is on a leave of absence. Vincent Montemaggiore will serve as an interim portfolio manager during Mssr. Weiss’ leave. 8/17
FSCOX Fidelity International Small Cap Opportunities Fund No one. But, current manager Jed Weiss is on a leave of absence. Patrick Buchanan and Patrick Drouot have been named interim co-managers of the fund. 8/17
FSCPX Fidelity Select Consumer Discretionary Sector Peter Dixon no longer serves as portfolio manager of the fund. Katherine Shaw has taken over management of the fund. 8/17
FDLSX Fidelity Select Leisure Portfolio No one, but . . . Becky Painter has joined Katherine Shaw in managing the fund. 8/17
FTIEX Fidelity Total International Equity Fund No one. But, current manager Jed Weiss is on a leave of absence. Vincent Montemaggiore will serve as an interim co-portfolio manager during Mssr. Weiss’ leave, joining Alexander Zavratsky and Sammy Simnegar. 8/17
FPPTX FPA Capital Fund Dennis Bryan is out after 10 years.  Effective October 1, 2017, Arik Ahitov will be the sole portfolio manager of the fund. 8/17
HVOAX Hartford Value Opportunities David Palmer and James Mordy will no longer serve as portfolio managers for the fund. The fund’s new portfolio manager will be Matthew  Baker 8/17
IAUTX Invesco Dividend Income Fund No one, but . . . Meggan Walsh and Robert Botard have been joined by Kristina Bradshaw and Christopher McMeans on the management team. 8/17
JXBAX JPMorgan Access Balanced Fund Stephanie Sigler Gdula will be on leave from her portfolio management duties until January 2018. The remaining members of the team will manage the fund in Ms. Sigler Gdula’s absence. 8/17
JSGAX JPMorgan Access Growth Fund Stephanie Sigler Gdula will be on leave from her portfolio management duties until January 2018. The remaining members of the team will manage the fund in Ms. Sigler Gdula’s absence. 8/17
JFUAX JPMorgan Global Unconstrained Equity Fund Timothy Woodhouse will no longer serve as a portfolio manager for the fund. Alexander Stanic joins Sam Witherow in managing the fund. 8/17
OEIAX JPMorgan International Research Enhanced Equity Fund No one, at the moment. James Cook, who previously served as portfolio manager from September ’14 to March ’17, has returned to manage the fund with Demetris Georghiou and Piera Elisa Grassi. 8/17
LGCAX Lord Abbett Global Core Equity Fund Didier Rosenfeld and Frederick Ruvkun who’d co-managed the fund since its launch all the way back in January 2017, have moved on. Yarek Aranowicz will manage the fund. 8/17
LMGAX Lord Abbett Growth Opportunities Fund Anthony Hipple will no longer serve as a portfolio manager for the fund. David Linsen, who stepped in as an interim manager (for seven days!) will also no longer serve. Jeffrey Rabinowitz will now manage the fund. 8/17
LICAX Lord Abbett International Core Equity Fund Didier Rosenfeld and Frederick Ruvkun who’d co-managed the fund since March 2016, have moved on. Todd Jacobson will manage the fund. 8/17
LYRHX Lyrical US Hedged Value Fund Caroline Ritter and David Roeske will no longer serve as portfolio managers for the fund. Andrew Wellington will now manage the fund. 8/17
LYRIX Lyrical US Value Equity Fund Caroline Ritter and David Roeske will no longer serve as portfolio managers for the fund. Andrew Wellington will now manage the fund. 8/17
EPSIX MainStay Epoch Global Equity Yield Fund Effective October 31, 2017, Eric Sappenfield will no longer serve as a portfolio manager of the fund. Michael Welhoelter, William Priest, Kera Van Valen, and John M. Tobin will continue to serve as portfolio managers of the fund. 8/17
EPLIX MainStay Epoch U.S. Equity Yield Fund Effective October 31, 2017, Eric Sappenfield will no longer serve as a portfolio manager of the fund. Michael Welhoelter, William Priest, Kera Van Valen, and John M. Tobin will continue to serve as portfolio managers of the fund. 8/17
MTRAX MainStay Income Builder Fund Effective October 31, 2017, Eric Sappenfield will no longer serve as a portfolio manager of the fund. Michael Welhoelter, William Priest, Kera Van Valen, and John M. Tobin will continue to serve as portfolio managers of the fund. Dan Roberts, Michael Kimble, and LouisCohen will also continue to serve as portfolio managers for the portion of the Fund subadvised by MacKay Shields LLC. 8/17
LSEIX Persimmon Long/Short Fund Ward Davis and Brian Agnew are no longer listed as portfolio managers for the fund. Joshua Bennett, Daniel Brazeau, H. George Dai, Gregory Horn, Matthew Shefler, Arthur Holly, Ken Cavazzi, and Timothy Melly will now manage the fund. 8/17
PGSAX PIMCO Global Advantage Strategy Bond Fund Lupin Rahman is no longer listed as a portfolio manager for the fund. Andrew Balls and Sachin Gupta are joined by Pramol Dhawan in managing the fund. 8/17
POGAX Putnam Growth Opportunities Fund No one, but . . . Richard Bodzy joined Robert Brookby as an assistant portfolio manager. 8/17
PNOPX Putnam Multi-Cap Growth Fund No one, but . . . Richard Bodzy joined Robert Brookby as an assistant portfolio manager. 8/17
EUGIX Shelton Capital Management European Growth & Income Fund Stephen Rogers is no longer listed as a portfolio manager for the fund. Matthias Knerr and Andrew Manton will now manage the fund. 8/17
SIVIX State Street Institutional Small-Cap Equity Fund Effective immediately, Mike Cervi will no longer serve as a portfolio manager for the fund. Dennis Santos joins Robert Anslow, Scott Brayman, Michael Cook, Frank Latuda, David Wiederecht and Marc Shapiro in managing the fund. 8/17
DVIBX Transamerica Partners Balanced Matthew Buchanan is no longer listed as a portfolio manager for the fund. Sivakumar Rajan joins Brian Westhoff, Doug Weih, Bradley Doyle, and Tyler Knight on the management team. 8/17
USAUX USAA Aggressive Growth Fund Justin Kelly, Paul Marrkand, and Patrick Burton are out. John Jares, Craig Behnke, and John Toohey are in. 8/17
VINEX Vanguard International Explorer Fund No one, but . . . Magnus Larsson joins Matthew Dobbs and Simon Thomas in managing the fund. 8/17
VAESX Virtus KAR Emerging Markets Small-Cap Fund Hyung Kim is no longer listed as a portfolio manager for the fund. Craig Thrasher will continue to manage the fund. 8/17
VISAX Virtus KAR International Small-Cap Fund Craig Stone will no longer serve as a portfolio manager for the fund. Craig Thrasher will continue to manage the fund. 8/17
WGROX Wasatch Core Growth Fund No one, but . . . Michael Valentine joins J.B. Taylor and Paul Lambert in managing the fund. 8/17
WAAEX Wasatch Small Cap Growth Fund No one, but . . . Ryan Snow and Kenneth Korngeibel join Jeff Cardon and JB Taylor on the management team. 8/17

 

This entry was posted in Manager changes on by .

About Chip

Cheryl Welsch, MBA (Western Governors). Cofounder, technical director. Chip is the director of information technology for SUNY-Sullivan, where she’s also served as instructor, academic adviser and member of the president’s cabinet. 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.