April 2018 IssueLong scroll reading

Manager changes, April 2018

By Chip

There were more than 57 funds that modified their management teams this month; the “more than” reflects the fact that one manager was pulled off literally uncounted Global X funds. While few of the changes are immediately consequential, several signal an impending changing of the guard. John B Walthausen, now in his 70s, has added a co-manager to the two Walthausen funds. Billy Hwan is joining Jerome L Dodson, also in his 70s, as co-manager of Parnassus Endeavor. Moving in the opposite direction, Thomas Marsico is moving to pick up responsibility for another fund, Marsico Flexible Capital, after several rocky years.

Ticker Fund Out with the old In with the new Dt
ADAVX Aberdeen Dynamic Dividend Fund, formerly Alpine Dynamic Dividend Fund Brian Hennessey and Sarah Hunt are no longer listed as portfolio managers for the fund. Stephen Docherty, Bruce Stout, Jamie Cumming, Martin Connaghan, Stewart Methven, and Joshua Duitz will manage the fund. 4/18
AIAFX Aberdeen Global Infrastructure Fund, formerly Alpine Global Infrastructure Fund. Gavin Tam is no longer listed as a portfolio manager for the fund. Stephen Docherty, Bruce Stout, Jamie Cumming, Martin Connaghan, Stewart Methven, and Joshua Duitz will manage the fund. 4/18
CHUSX Alger Global Growth Fund Daniel Chung, Deborah Medenica, and Pedro Marcal are no longer listed as portfolio managers for the fund. Gregory Jones and Pragna Shere will now manage the fund. 4/18
AFGPX Alger International Growth Fund Pedro Marcal is no longer listed as a portfolio manager for the fund. Gregory Jones and Pragna Shere will now manage the fund. 4/18
RAGHX AllianzGI Health Sciences Fund Michael Dauchot will no longer serve as a portfolio manager for the fund. Peter Pirsch joins John Schroer in managing the fund. 4/18
AFXAX American Beacon Flexible Bond Fund No one, but . . . Colin Hamer joins the management team. 4/18
AGCAX Arbitrage Credit Opportunities Fund Robert Ryon will no longer serve as a portfolio manager for the fund. John Orrico and Gregory Loprete will now manage the fund. 4/18
AGEAX Arbitrage Event-Driven Fund Robert Ryon will no longer serve as a portfolio manager for the fund. John Orrico joins Edward Chen, Todd Munn, Gregory Loprete, and Roger Foltynowicz on the management team. 4/18
BACAX BlackRock All-Cap Energy & Resources Portfolio No one, but . . . Mark Hume joins Alastair Bishop in managing the fund. 4/18
SSGRX BlackRock Energy & Resources Portfolio No one, but . . . Ruth Brooker joins Alastair Bishop in managing the fund. 4/18
HMCAX Carillon Eagle Mid Cap Stock Fund Charles Schwartz, Betsy Pecor, and Matthew McGeary will no longer serve as portfolio managers for the fund. Bert Boksen and Eric Mintz will now manage the fund. 4/18
LAIAX Columbia Acorn International P. Zachary Egan has announced that he will step down as portfolio manager effective, July 1, 2018. Louis Mendes and Tae Han Kim will continue to manage the fund. 4/18
FHIAX Fidelity Advisor High Income Fund No one, immediately. Matthew Conit is expected to retire from his portfolio manager role effective, December 31, 2018. Michael Weaver is joining Mssr. Conti in managing the fund, with the expectation that he will assume sole portfolio management duties next year. 4/18
FMCDX Fidelity Advisor Stock Selector Mid Cap Fund Christopher Lin will no longer serve as a portfolio manager for the fund. Ali Khan joins Robert Stansky, John Mirshekari, Edward Yoon, Samuel Wald, Pierre Sorel, Douglas Simmons, Gordon Scott, and Shadman Riaz on the management team. 4/18
FDLSX Fidelity Select Leisure Portfolio Katherine Shaw will no longer serve as a portfolio manager for the fund. Becky Painter will continue to manage the fund. 4/18
FTBFX Fidelity Total Bond Fund No one, immediately. Matthew Conti is expected to retire from his portfolio manager role effective, December 31, 2018. Michael Weaver is joining the team with the expectation that he will assume sole responsibility for Mr. Conti’s portion of the fund, next year. 4/18
SCAFX Fiera Capital STRONG Nations Currency Fund “Effective as of March 3, 2018, Mr. Jonathan E. Lewis has taken an interim leave of absence from his role as Chief Investment Officer of Fiera Capital Inc., the Fund’s investment adviser, to make a run for the United States Congress.  During this leave period, Mr. Lewis will not serve as a Portfolio Manager of the Fund. …  If Mr. Lewis’ run for Congress is successful, he will leave his role as Chief Investment Officer of the Adviser and Portfolio Manager of the Fund to fulfill his duties as a U.S. Congressman.” Iraj Kani will continue to manage the fund. 4/18
FNGAX Franklin International Growth Fund Mohammad Par Rostom is no longer listed as a portfolio manager for the fund. John Remmert joins Donald Huber and Coleen Barbeau in managing the fund. 4/18
Various GlobalX Funds Hailey Harris will cease to be a portfolio manager of the series. Nam To will now manage the funds. 4/18
QGLDX Gold Bullion Strategy Fund Z. George Yang will no longer serve as a portfolio manager for the fund. Jason Teed joins Jerry Wagner in managing the fund. 4/18
GMAMX Goldman Sachs Multi-Manager Alternatives Fund New Mountain Vantage Advisers will no longer subadvise the fund. River Canyon Fund Management is now a subadvisor to the fund. 4/18
HLMSX Harding, Loevner International Small Companies Portfolio No one, but . . . Anix Vyas joins Jafar Rizvi in managing the fund. 4/18
SGBVX Hartford Schroders Global Strategic Bond Fund James Lindsay-Fynn will no longer serve as a portfolio manager for the fund. Robert Jolly, Paul Grainger, and Thomas Sartain will continue to manage the fund. 4/18
HEOAX Highland Long/Short Equity Fund Effective immediately, Michael McLochlin will no longer serve as a portfolio manager for the fund. Bradford Heiss joins Jonathan Lamensdorf in managing the fund. 4/18
HHCAX Highland Long/Short Healthcare Fund Effective immediately, Michael Gregory will no longer serve as a portfolio manager for the fund. Andrew Hilgenbrink and James Dondero will manage the fund. 4/18
HPEAX Highland Premier Growth Equity Fund Effective immediately, Michael Gregory will no longer serve as a portfolio manager for the fund. Michael McLochlin joins James Dondero in managing the fund. 4/18
HSZAX Highland Small-Cap Equity Fund Effective immediately, Michael Gregory will no longer serve as a portfolio manager for the fund. James Dondero will continue to manage the fund. 4/18
HSCSX Homestead Small-Company Stock Fund Effective March 30, 2018, Mark Ashton will retire as co-manager of the fund. Prabha Carpenter will continue to manage the fund. 4/18
HOVLX Homestead Value Fund Effective March 30, 2018, Mark Ashton will retire as co-manager of the fund. Prabha Carpenter will continue to manage the fund. 4/18
JMCVX Janus Henderson Mid Cap Value Thomas Perkins intends to retire from Perkins Investment Management LLC prior to the end of 2018. He intends to step down from fund management after June 30, 2018. Kevin Preloger and Justin Tugman will continue to manage the fund. 4/18
JVSAX Janus Henderson Select Value Fund Robert Perkins is no longer listed as a portfolio manager for the fund. Alec Perkins will continue to manage the fund. 4/18
JDSNX Janus Henderson Small Cap Value Fund Robert Perkins is no longer listed as a portfolio manager for the fund. Craig Kempler and Justin Tugman will continue to manage the fund. 4/18
JBOAX John Hancock ESG Core Bond Fund David Madigan will no longer serve as a portfolio manager for the fund, effective at the close of business on September 28, 2018. Following the effective date, Matthew Buscone, Sara Chanda, Khurram Gillani and Jeffrey Glenn will continue to serve as portfolio managers of the fund. 4/18
MDFSX Manning & Napier Disciplined Value Series Jeffrey Tyburski has resigned as a member of the management team. Alex Gurevich has been added to the management team, joining Christopher Petrosino and Richard Schermeyer. 4/18
MFCFX Marsico Flexible Capital Fund Jordon Laycob will no longer serve as a portfolio manager for the fund. Thomas Marsico is now managing the fund. 4/18
NAIGX Nuveen NWQ International Value Fund No one, but . . . James Stephenson will join Peter Boardman in managing the fund. 4/18
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. 4/18
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. 4/18
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. 4/18
PARWX Parnassus Endeavor Fund No one, but . . . On May 1, Billy Hwan will join Jerome Dodson on the management team. 4/18
QFFOX Pear Tree Panagora Emerging Markets Fund Mark Barnes no longer is a portfolio manager. Nicholas Alonso and Edward Qian continue to manage the fund. 4/18
RPEMX Pear Tree Panagora Risk Parity Emerging Markets Fund Mark Barnes no longer is a portfolio manager. Nicholas Alonso and Edward Qian continue to manage the fund. 4/18
PSR PowerShares Active U.S. Real Estate Fund No one, but . . . Grant Jackson joins Mark Blackburn, Paul Curbo, Joe Rodriguez, Jr., Darin Turner, and Ping Ying Wang on the management team. 4/18
PCACX Principal Largecap Value Fund Joel Fortney is no longer listed as a portfolio manager for the fund. Jeffrey Schwarte joins Christopher Iback in managing the fund. 4/18
PMVAX Putnam Sustainable Future Fund James Polk is no longer listed as a portfolio manager for the fund. Katherine Collins and Stephanie Henderson now manage the fund. 4/18
PNOPX Putnam Sustainable Leaders Fund Richard Bodzy and Robert Brookby are no longer listed as portfolio managers for the fund. Katherine Collins, R. Shepherd Perkins, and Stephanie Henderson will now manage the fund. 4/18
RDMIX Rational/ReSolve Adaptive Asset Allocation 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. 4/18
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. 4/18
TBWAX Thornburg Better World International Fund Rolf Kelly is no longer listed as a portfolio manager for the fund. James Gassman and Di Zhou will now manage the fund. 4/18
USCAX USAA Small Cap Stock Fund Cambiar Investors, LLC will no longer subadvise the fund. The other subadvisers remain. 4/18
VCINX VALIC Company I International Growth Fund Clas Olsson, Matthew Dennis, Rajesh Gandhi, Daniel Ling, Mark Jason, Richard Nield, Brently Bates, James Gendelman, and Filipe Benzinho are no longer listed as portfolio managers for the fund. Kristian Heugh will now manage the fund. 4/18
IMCVX Voya Multi-Manager Mid Cap Value Fund James Mordy has announced his plan to retire from the fund, effective December 31, 2018. Gregory Garabedian will join the rest of the team and assume lead management responsibilities upon Mssr. Mordy’s retirement. 4/18
WSVRX Walthausen Select Value Fund No one, but . . . Gerard Heffernan joins John Walthausen on the management team. 4/18
WSCVX Walthausen Small Cap Value Fund No one, but . . . Gerard Heffernan joins John Walthausen on the management team. 4/18
WSCAX Wanger International No one, immediately. P. Zachary Egan has announced that he will step down as portfolio manager effective, July 1, 2018. Louis Mendes and Tae Han Kim will continue to manage the fund. 4/18
EAAFX Wells Fargo Asset Allocation Fund Grantham, May, Van Otterloo & Co. will no longer subadvise the fund. Wells Capital Management is now subadvising the fund. Kandarp Acharya, Petros N. Bocray, and Christian Chan will be portfolio managers for the fund. 4/18
EGWAX Wells Fargo Traditional Small Cap Growth Fund Alexi Makkas will no longer serve as a portfolio manager for the fund. Michael Smith and Christopher Warner are now managing the fund. 4/18

 

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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.