March 2018 IssueLong scroll reading

Manager changes, February 2018

By Chip

Sixty-two 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. Actually there were rather more than 62, since we don’t track boring bond funds (the value added by the third manager on a Massachusetts muni fund is modest enough that we don’t track those teams; sorry, guys) and, this month only, we’re boycotting changes in the Dreyfus funds. Frankly, Dreyfus got annoying. Their announcements show up in the SEC filings under a bunch of labels (including dozens of Dreyfus series, CitizensSelect, Advantage Funds and Strategic Funds) and were poorly written. We ended up with a headache and the decision to share the following announcement: “about a dozen Dreyfus funds shifted teams this month; if you invest with them, you might want to double-check.”

Ticker Fund Out with the old In with the new Dt
CLSHX AdvisorOne CLS Shelter Fund Paula Wieck is no longer listed as a portfolio manager for the fund. Case Eichenberger, Jackson Lee and Rusty Vanneman will join Gene Frerichs on the management team. 2/18
TWGTX American Century All Cap Growth Fund Marcus Scott and Michael Orndorff are no longer listed as portfolio managers for the fund. Joseph Reiland and Gregory Woodhams will now manage the fund. 2/18
TWHIX American Century Heritage Fund  Michael Orndorff, Marcus A. Scott and Greg Walsh are no longer listed as portfolio managers for the fund. Robert Brookby will join Nalin Yogasundram on the management team. 2/18
TWEGX American Century International Discovery Fund No one, but . . . Federico Laffan, oddly, has just been added to the prospectus, though he’s been on the team that manages the fund since 2014. Trevor Gurwich and Pratik Patel are the other 2/3 of the team. 2/18
AMJVX American Century Multi-Asset Income Fund No one, but . . . John Donner joins Vidya Rajappa, Scott Wilson, Richard Weiss, and Radu Gabudean on the management team. 2/18
ACFIX Arbitrage Credit Opportunities Fund No one, but . . . John Orrico joins Gregory Loprete and Robert Ryon on the management team.. 2/18
ARSQX Aristotle Value Equity Fund No one, but . . . Gregory Padilla joins Howard Gleicher on the management team. 2/18
MDEGX BlackRock Long-Horizon Equity Fund No one, but . . . Jane Holl joins Stuart Reeve and Andrew Wheatley-Hubbard on the management team. 2/18
EGEAX Carillon Eagle Smaller Company Fund Matthew McGeary, Betsy Pecor and Charles Schwartz are no longer listed as portfolio managers for the fund. James McBride and Timothy Miller will now manage the fund. 2/18
CLSAX CLS Global Diversified Equity Fund Paula Wieck is no longer listed as a portfolio manager for the fund. Grant Engelbart and Rusty Vanneman will continue to manage the fund. 2/18
CLERX CLS Growth and Income Fund Paula Wieck is no longer listed as a portfolio manager for the fund. Joshua Jenkins and Rusty Vanneman will continue to manage the fund. 2/18
CLHAX CLS International Equity Fund No one, but . . . Jackson Lee joins Konstantin Etus and Joe Smith on the management team. 2/18
CLSHX CLS Shelter Fund Paula Wieck is no longer listed as a portfolio manager for the fund. Gene Frerichs will be joined by Case Eichenberger, Jackson Lee, and Rusty Venneman on the management team. 2/18
CBSAX Columbia Mid Cap Growth Fund William Chamberlain is no longer listed as a portfolio manager for the fund. John Emerson, Matthew Litfin, and Erika Maschmeyer will now manage the fund. 2/18
SLMCX Columbia Seligman Communications and Information Fund Rahul Narang will no longer serve as a portfolio manager for the fund. Vimal Patel joins Paul Wick, Shekhar Pramanick, Sanjay Devgan, Jeetil Patel, and Christopher Boova on the management team. 2/18
SHGTX Columbia Seligman Global Technology Fund Rahul Narang will no longer serve as a portfolio manager for the fund. Vimal Patel joins Paul Wick, Shekhar Pramanick, Sanjay Devgan, Jeetil Patel, and Christopher Boova on the management team. 2/18
FGMNX Fidelity GNMA Fund William Irving no longer serves as lead portfolio manager of the fund. Sean Corcoran joins Franco Castagliuolo in managing the fund. 2/18
FINPX Fidelity Inflation-Protected Bond Fund William Irving no longer serves as lead portfolio manager of the fund. Sean Corcoran joins Franco Castagliuolo in managing the fund. 2/18
FSNGX Fidelity Select Natural Gas Ted Davis will no longer serve as a portfolio manager for the fund. Ben Shuleva will continue to manage the fund. 2/18
FNARX Fidelity Select Natural Resources John Dowd will no longer serve as a portfolio manager for the fund. Nathan Strik will continue to manage the fund. 2/18
FSRRX Fidelity Strategic Real Return Fund William Irving is no longer listed as a portfolio manager for the fund. Sean Corcoran joined Franco Castagliuolo, Samuel Wald, Mark Snyderman, Adam Kramer, and Ford O’Neil on the management team. 2/18
HISIX Homestead International Equity No one, but . . . Scott Crawshaw joins Patrick Todd, Andrew West, Bryan Lloyd, Alexander Walsh, and Ferrill Roll in managing the fund.
“Ferrill Roll” is a fascinating name, something worthy of Game of Thrones.
2/18
WASAX Ivy Asset Strategy Fund Cynthia Prince-Fox is retiring, effective April 30th, and will no longer serve as a portfolio manager for the fund. W. Jeffrey Surles joins F. Chace Brundige on the management team. 2/18
IGJAX Ivy Government Securities Fund No one, but . . . Susan Regan joins Rick Perry in managing the fund. 2/18
IWGAX Ivy Wilshire Global Allocation Fund Cynthia Prince-Fox is retiring, effective April 30th, and will no longer serve as a portfolio manager for the fund. W. Jeffrey Surles joins F. Chace Brundige on the management team. 2/18
Various John Hancock Funds II Multi-Index Lifestyle Portfolios Effective immediately, Marcelle Daher no longer serves as a portfolio manager of the funds. Robert Sykes joins Robert Boyda and Nathan Thooft on the management team. 2/18
Various John Hancock Funds II Multi-Index Lifetime Portfolios Effective immediately, Marcelle Daher no longer serves as a portfolio manager of the funds. Robert Sykes joins Robert Boyda and Nathan Thooft on the management team. 2/18
Various John Hancock Funds II Multi-Index Preservation Portfolios Effective immediately, Marcelle Daher no longer serves as a portfolio manager of the funds. Robert Sykes joins Robert Boyda and Nathan Thooft on the management team. 2/18
Various John Hancock Funds II Multimanager Lifestyle Portfolios Effective immediately, Marcelle Daher no longer serves as a portfolio manager of the funds. Robert Sykes joins Robert Boyda and Nathan Thooft on the management team. 2/18
Various John Hancock Funds II Multimanager Lifetime Portfolios Effective immediately, Marcelle Daher no longer serves as a portfolio manager of the funds. Robert Sykes joins Robert Boyda and Nathan Thooft on the management team. 2/18
MVPFX Marathon Value Portfolio Marc Heilweil, who’d guided the fund since inception in 2000, will no longer serve as a portfolio manager. Todd Jones now runs the fund. 2/18
MITTX Massachusetts Investors Trust No one, but . . . Alison O’Neill Mackey joins Kevin Beatty and Ted Maloney on the management team. 2/18
DIFAX MFS Diversified Income Fund As of September 1, 2018, William Adams will no longer be a portfolio manager of the fund. As of December 31, 2018, Jim Swanson will no longer serve as a portfolio manager for the fund. Robert Almeida and Michael Skatrud join Ward Brown,  David Cole, Rick Gable, Matt Ryan, Jonathan Sage, and Geoffrey Schechter on the management team. 2/18
MWOFX MFS Global Growth Fund No one, but . . . Joseph Skorski joins David Antonelli and Jeffrey Constantino on the management team. 2/18
MHOAX MFS Global High Yield Fund As of September 1, 2018, William Adams will no longer be a portfolio manager of the fund. Michael Skatrud will join David Cole, Matt Ryan and William Adams in managing the fund, in anticipation of Mssr. Adams departure. 2/18
MFEGX MFS Growth Fund Matthew Sabel is no longer listed as a portfolio manager for the fund. Eric Fischman and Paul Gordon will continue to manage the fund. 2/18
MHITX MFS High Income Fund As of September 1, 2018, William Adams will no longer be a portfolio manager of the fund. Michael Skatrud will join David Cole and William Adams in managing the fund, in anticipation of Mssr. Adams departure. 2/18
OTCAX MFS Mid Cap Growth Fund Matthew Sabel is no longer listed as a portfolio manager for the fund. Eric Fischman and Paul Gordon will continue to manage the fund. 2/18
FPPAX MFS Prudent Investor Fund No one, but . . . Edward Dearing joins David Cole and Barnaby Weiner in managing the fund. 2/18
MFIOX MFS Strategic Income Fund As of September 1, 2018, William Adams will no longer be a portfolio manager of the fund. Michael Skatrud joins Joshua Marston, Ward Brown, Philipp Burgener, David Cole, Alexander Mackey, Robert Persons, and Matt Ryan in managing the fund, in anticipation of Mssr. Adams departure. 2/18
MFGIX Monteagle Quality Growth Fund No one, but . . . Steven MacNamara joined Tom Sauer, Craig Cairns, Stefan Kip Astheimer, and Brett Winnefeld on the management team. 2/18
QVGIX Oppenheimer Global Allocation Fund Mark Hamilton and Dokyoung Lee will no longer serve as a portfolio managers for the fund. Alessio de Longis and Benjamin Rockmuller will continue to manage the fund. 2/18
ODAAX Oppenheimer Global Multi-Alternatives Fund Mark Hamilton and Dokyoung Lee will no longer serve as a portfolio managers for the fund. Alessio de Longis and Benjamin Rockmuller will continue to manage the fund. 2/18
QMGAX Oppenheimer Global Multi-Asset Growth Fund Mark Hamilton and Dokyoung Lee will no longer serve as a portfolio managers for the fund. Alessio de Longis and Benjamin Rockmuller will continue to manage the fund. 2/18
QMAAX Oppenheimer Global Multi-Asset Income Fund Mark Hamilton and Dokyoung Lee will no longer serve as a portfolio managers for the fund. Alessio de Longis and Benjamin Rockmuller will continue to manage the fund. 2/18
OYCIX Oppenheimer Portfolio Series Conservative Investor Fund Mark Hamilton and Dokyoung Lee will no longer serve as a portfolio managers for the fund. Jeffrey Bennett will now run the fund. 2/18
OYAIX Oppenheimer Portfolio Series Equity Investor Fund Mark Hamilton and Dokyoung Lee will no longer serve as a portfolio managers for the fund. Jeffrey Bennett will now run the fund. 2/18
OYMIX Oppenheimer Portfolio Series Moderate Investor Fund Mark Hamilton and Dokyoung Lee will no longer serve as a portfolio managers for the fund. Jeffrey Bennett will now run the fund. 2/18
PNOPX Putnam Multi-Cap Growth Fund Richard Bodzy and Robert Brookby are no longer listed as portfolio managers for the fund. Katherine Collins and R. Sheperd Perkins will now manage the fund. 2/18
RDMIX Rational Dynamic Momentum Fund Michael Ivie and R. Jerry Parker will no longer serve as portfolio managers for the fund. Adam Butler, Rodrigo Gordillo, and Michael Philbrick will now manage the fund. 2/18
SIEPX Saratoga International Equity Fund Marc Miller is no longer listed as a portfolio manager for the fund. John Brim, Stephanie Jones, and Stephen Smith are now managing the fund. 2/18
SITIX STAAR International Fund J. Andre Weisbrod is no longer listed as a portfolio manager for the fund. Brett Boshco now manages the fund. 2/18
SITAX STAAR Investment Trust – Alternative Categories Fund J. Andre Weisbrod is no longer listed as a portfolio manager for the fund. Brett Boshco now manages the fund. 2/18
SITLX STAAR Larger Company Stock Fund J. Andre Weisbrod is no longer listed as a portfolio manager for the fund. Brett Boshco now manages the fund. 2/18
SITSX STAAR Smaller Company Stock Fund J. Andre Weisbrod is no longer listed as a portfolio manager for the fund. Brett Boshco now manages the fund. 2/18
FPCIX Strategic Advisers Core Income Fund Stewart Wong is no longer listed as a portfolio manager for the fund. Jonathan Dugan joins Gregory Pappas, Jeffrey Moore, Michael Plage, Franco Castagliuolo, Sean Corcoran, and James Herbst on the management team. 2/18
HMVAX The Hartford Midcap Value Fund James Mordy has announced his plan to retire from the fund, effective December 31, 2018. Gregory Garabedian will continue to manage the fund. 2/18
USMIX USAA Extended Market Index Fund Jennifer Hsui, Rachel Aguirre, Creighton Jue, Alan Mason, and Greg Savage will no longer serve as portfolio managers for the fund. Richard Brown, Thomas Durante, and Karen Wong will now run the fund. 2/18
WEEMX Wells Fargo Factor Enhanced Emerging Markets Fund No one, but . . . Monisha Jayakumar is added as a portfolio manager, joining Dennis Bein, Harindra de Silva, and David Krider on the team. 2/18
WINTX Wells Fargo Factor Enhanced International Fund No one, but . . . Monisha Jayakumar is added as a portfolio manager, joining Dennis Bein, Harindra de Silva, and David Krider on the team. 2/18
WLECX Wells Fargo Factor Enhanced Large Cap Fund No one, but . . . Monisha Jayakumar is added as a portfolio manager, joining Dennis Bein, Ryan Brown, and Harindra de Silva on the team. 2/18
WFESX Wells Fargo Factor Enhanced Small Cap Fund No one, but . . . Monisha Jayakumar is added as a portfolio manager, joining Dennis Bein, Ryan Brown, and Harindra de Silva on the team. 2/18
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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.