February 2018 IssueLong scroll reading

Manager changes, January 2018

By Chip

Ahh … it’s a quiet month on the manager change front. Forty-eight funds saw partial turnover in their management teams but no high profile manager stalked off or was shown the door, and no rising star was awarded a new charge. Despite the pressure for cost containment, 11 of the funds were simply adding to the size of the management team. The month’s sole highlight occurred when Chip encountered Harding Loevner manager Ferrill Roll, declared it “feral” and began wondering about whether he might be a candidate for managing a fund in Westeros. (Note in passing: don’t succumb to the temptation, the penalties for underperforming your benchmark there involve dragon fire.)

Ticker Fund Out with the old In with the new Dt
Various AB Multi-Manager Select Retirement Allocation target date funds Vadim Zlotnikov is no longer listed as a portfolio manager for the fund. Daniel Loewy and Christopher Nikolich will continue to manage the fund. 1/18
GOPAX Aberdeen China Opportunities Fund Kathy Xu will no longer serve on the fund. Hugh Young, Nicholas Yeo, Flavia Cheong, and Nicholas Chui will continue to manage the fund. 1/18
Various American Century One Choice Funds target date funds No one, but . . . Vidya Rajappa joins G. David MacEwen, Radu Gabudean, Richard Weiss, and Scott Wilson 1/18
AVEFX Ave Maria Bond Fund No one, but . . . Adam Gaglio is joining Brandon Scheitler and Richard Platte on the management team. 1/18
AVEMX Ave Maria Value Fund George Schwartz is no longer listed as a portfolio manager for the fund. Chadd Garcia is joining Timothy Schwartz and Joseph Skornicka on the management team. 1/18
BXMIX Blackstone Alternative Multi-Strategy Fund GS Investment Strategies, LLC will no longer subadvise the fund. The other subadvisers remain. 1/18
BBCPX Bridge Builder Core Plus Bond Fund No one, but . . . Stephen Bartolini joins the rest of the management team. 1/18
ACXAX Catalyst Multi-Strategy Fund Kevin Jamali will no longer serve as a portfolio manager for the fund. Darren Kottle will now manage the fund. 1/18
TAPRX Columbia Contrarian Asia Pacific Fund George Gosden and Vanessa Donegan are no longer listed as portfolio managers for the fund. Soo Nam Ng and Christine Seng will now manage the fund. 1/18
CRIHX CRM Long/Short Opportunities Fund No one, but . . . Mimi Morris and Jason Yellin join Jay Abramson in managing the fund. 1/18
FDESX Fidelity Advisor Diversified Stock Fund James Morrow no longer serves as lead portfolio manager of the fund. Ramona Persaud continues to manage the fund. 1/18
FLMLX Fidelity Advisor Series Equity-Income Fund James Morrow no longer serves as lead portfolio manager of the fund. Sean Gavin will continue to manage the fund. 1/18
FDGFX Fidelity Dividend Growth Fund Ramona Persaud no longer serves as lead portfolio manager of the fund. Gordon Scott will continue to manage the fund. 1/18
FJACX Fidelity Series Small Cap Discovery Fund Charles Myers no longer serves as co-manager of the fund. Derek Janssen will continue to manage the fund. 1/18
RFAP First Trust Riverfront Dynamic Asia Pacific ETF Effective January 2, 2018, Doug Sandler and Michael Jones are no longer portfolio managers for the fund. Adam Grossman, Chris Konstantinos, and Scott Hays will continue to serve as portfolio managers for the fund. 1/18
RFDI First Trust Riverfront Dynamic Developed International ETF Effective January 2, 2018, Doug Sandler and Michael Jones are no longer portfolio managers for the fund. Adam Grossman, Chris Konstantinos, and Scott Hays will continue to serve as portfolio managers for the fund. 1/18
RFEM First Trust Riverfront Dynamic Emerging Markets ETF Effective January 2, 2018, Doug Sandler and Michael Jones are no longer portfolio managers for the fund. Adam Grossman, Chris Konstantinos, and Scott Hays will continue to serve as portfolio managers for the fund. 1/18
RFEU First Trust Riverfront Dynamic Europe ETF Effective January 2, 2018, Doug Sandler and Michael Jones are no longer portfolio managers for the fund. Adam Grossman, Chris Konstantinos, and Scott Hays will continue to serve as portfolio managers for the fund. 1/18
GFRAX Goldman Sachs High Yield Floating Rate Fund Jean Joseph is no longer listed as a portfolio manager for the fund. Michael Goldstein is joined by Rachel Golder and Ken Yan on the management team. 1/18
HISOX Harbor Small Cap Growth Opportunities Fund Lance Marx will no longer serve as a portfolio manager for the fund. Cam Philpott, David Hand, Hiren Patel, and Sean McGinnis continue to serve as co-portfolio managers for the fund. 1/18
HLMVX Harding Loevner Global Equity Portfolio No one, but . . . Scott Crawshaw joins Richard Schmidt, Christopher Mack, Peter Baughan and Ferrill Roll on the management team. 1/18
HLMOX Harding, Loevner Frontier Emerging Markets Richard Schmidt is no longer listed as a portfolio manager for the fund. Pradipta Chakrabortty and Babatunde Ojo continue to serve as the portfolio managers of the fund. 1/18
HLMIX Harding, Loevner International Equity No one, but . . . Scott Crawshaw joins Ferrill Roll, Alexander Walsh, Bryan Lloyd, Patrick Todd and Andrew West on the management team. 1/18
SCUIX Hartford Schroders US Small Cap Opportunities Fund No one, but . . . Robert Kaynor joins Jenny Jones in managing the fund. 1/18
SMDIX Hartford Schroders US Small/Mid-Cap Opportunities Fund No one, but . . . Robert Kaynor joins Jenny Jones in managing the fund. 1/18
HSPX Horizons S&P 500 Covered Call ETF Wade Guenther will no longer serve as a portfolio manager for the fund. Garrett Paolella, Troy Cates, and Jonathan Molchan continue to run the fund. 1/18
ICHCX ICON Healthcare Fund Scott Snyder is no longer listed as a portfolio manager for the fund. Scott Callahan will now manage the fund. 1/18
MSAVX Invesco American Value Fund Effective on or about April 2, 2018, Thomas Copper will no longer serve as a portfolio manager to fund. Jeffry Vancavage and Sergio Marcheli will continue to manage the fund. 1/18
KPIEX KP International Equity Fund No one, but . . . William Blair joins in as the sixth subadvisor to the fund. 1/18
KPSCX KP Small Cap Equity Fund DeForest Hinman will no longer serve as a portfolio manager for the fund. The rest of the extensive team remains. 1/18
OAEIX Oppenheimer Equity Income Fund Michael Levine is no longer listed as a portfolio manager for the fund. Laton Spahr will now manage the fund. 1/18
PWREX Pioneer Real Estate Fund Gina Szymanski is no longer listed as a portfolio manager for the fund. Raymond Haddad now manages the fund. 1/18
PBAAX PNC Balanced Allocation Fund Mark McGlone will no longer serve as a portfolio manager for the fund. Aneet Deshpande, Martin Schulz, Jason Weber, and Michael Coleman will continue to manage the fund. 1/18
POGAX Putnam Growth Opportunities Fund Robert Brookby is no longer listed as a portfolio manager for the fund. Samuel Cox joins Richard Bodzy in managing the fund. 1/18
PNOPX Putnam Multi-Cap Growth Fund Richard Bodzy and Robert Brookby are no longer listed as portfolio managers for the fund. Katherine Collins and Shep Perkins will now manage the fund. 1/18
QEAAX Quaker Event Arbitrage Fund No one, but . . . Paul Hoffmeister will join Thomas Kirchner in managing the fund. 1/18
QTRAX Quaker Global Tactical Allocation Fund Thomas Kirchner is no longer listed as a portfolio manager for the fund. Todd Cohen, Elliot Gilfarb, Andrew Cowen, and Thomas Lott will now manage the fund. 1/18
QMCVX Quaker Mid-Cap Value Fund Frank Latuda and Gary Kauppila are no longer listed as portfolio managers for the fund. Todd Cohen, Elliot Gilfarb, Andrew Cowen, and Thomas Lott will now manage the fund. 1/18
QUSVX Quaker Small-Cap Value Fund Gregory Rogers and Christopher Whitehead are no longer listed as portfolio managers for the fund. Todd Cohen, Elliot Gilfarb, Andrew Cowen, and Thomas Lott will now manage the fund. 1/18
QUAGX Quaker Strategic Growth Fund Christopher Perras, Thomas Stevens, Daniel Allen, and Kristin Ceglar are no longer listed as portfolio managers for the fund. Todd Cohen, Elliot Gilfarb, Andrew Cowen, and Thomas Lott will now manage the fund. 1/18
RFCI Riverfront Dynamic Core Income ETF Michael Jones is no longer listed as a portfolio manager for the fund. Tim Anderson and Rob Glownia will continue to manage the fund. 1/18
RFUN Riverfront Dynamic Unconstrained Income ETF Michael Jones is no longer listed as a portfolio manager for the fund. Tim Anderson and Rob Glownia will continue to manage the fund. 1/18
USAAX USAA Growth Fund Paul Radomski no longer serves as a portfolio manager of the fund. Andy Eng will continue to manage the fund. 1/18
WALTX Wells Fargo Alternative Strategies Fund John Burbank is no longer listed as a portfolio manager for the fund. The other eleven managers remain. 1/18
WWIAX Westwood Income Opportunity Fund No one, but . . . Daniel Barnes joins Mark Freeman and Todd Williams on the management team. 1/18
WWLAX Westwood LargeCap Value Fund Lisa Dong no longer serves as a portfolio manager of the fund. Mark Freeman, Scott Lawson, Matthew Lockridge, and Varun Singh will continue to manage the fund. 1/18
WHGSX Westwood Smallcap Fund Lisa Dong no longer serves as a portfolio manager of the fund. William Costello, Matthew Lockridge, and Frederic Rowsey continue to manage the fund. 1/18

 

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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.