September 2018 IssueLong scroll reading

Manager changes, July and August 2018

By Chip

We monthly report on manager changes, which most commonly is simply swapping out one member of a management team for another. Those changes are sometimes deeply consequential, and we try to highlight those, but mostly they’re marginal to the funds. This month, though, several of the changes are especially important to the folks involved. Montag & Caldwell Growth has announced the departure of Ron Canakaris after a quarter century at the helm. The BP Capital Twinline funds announced the tragic death of manager Anthony Riley. Columbia High Yield Bond manager Jennifer Ponce de Leon is on indefinite medical leave. Our thoughts are with them all.

Ticker Fund Out with the old In with the new Dt
AGFQX 361 Global Managed Futures Strategy Fund Jeremy Frank will no longer serve as a portfolio manager to the fund. Blaine Rollins, Clifford Stanton, Aditya Bhave, Jason Leupold, and John Riddle will continue to serve as portfolio managers of the fund. 7/18
AGMQX 361 Macro Opportunity Fund Jeremy Frank will no longer serve as a portfolio manager to the fund. Blaine Rollins, Clifford Stanton, Aditya Bhave, and Jason Leupold will continue to serve as portfolio managers of the fund. 7/18
AMFQX 361 Managed Futures Strategy Fund Jeremy Frank will no longer serve as a portfolio manager to the fund. Blaine Rollins, Clifford Stanton, Aditya Bhave, Jason Leupold, John Riddle and Randall Bauer will continue to serve as portfolio managers of the fund. 7/18
MCGFX AMG Managers Montag & Caldwell Growth Fund Ronald Canakaris will no longer serve as lead portfolio manager but will continue to serve as a portfolio manager of the fund. Mr. Canakaris has been managing the fund since 1994 – 24 years now – and one imagines that he’s thinking a bit more about the next chapter in his life. Andrew Jung will step up to the lead portfolio manager position. In addition, M. Scott Thompson will join the team. 7/18
MGSEX AMG Managers Special Equity Fund Brian Greenberg will no longer serve as a portfolio manager for the fund. Damien Zhang joins the other ten managers on the team. 8/18
TLEVX AMG Trilogy Emerging Markets Equity Fund Robert Beckwitt will no longer serve as a portfolio manager of the fund. Pablo Salas and William Sterling will continue to serve as the portfolio managers of the fund. 7/18
BBGRX BBH Global Core Select Timothy Hartch is no longer listed as a portfolio manager for the fund. Regina Lombardi will continue to manage the fund. 7/18
BXMIX Blackstone Alternative Multi-Strategy Fund Gracian Capital will no longer serve as a sub-advisor to the fund. The fund’s assets formerly allocated to the Gracian strategy have been re-allocated to the fund’s other subadvisors or the Blackstone Alternative Investment Advisors (BAIA), the advisor to the fund. Min Htoo, of BAIA, has joined the management team. 7/18
BPMAX BP Capital TwinLine MLP Fund The BP Capital TwinLine Funds regret to inform its shareholders that Anthony Riley, CFA, unexpectedly and tragically passed away on Saturday, July 21, 2018. The BP Capital TwinLine team is extremely saddened by the news, but is grateful for Anthony’s hard work and contributions, and he will be greatly missed. Toby Loftin and Benton Cook will continue to serve as co-portfolio managers to the MLP Fund. 7/18
BAFJX Brown Advisory – WMC Japan Alpha Opportunities Fund Kent Stahl has announced his plan to retire effective December 31,2018. Gregg Thomas and Edward Baldini will continue to manage the fund. 8/18
CFRAX Catalyst Floating Rate Income Fund Tom Wojczak is no longer listed as a portfolio manager for the fund and Princeton Advisory Group is no longer a subadvisor of the fund. Stan Sokolowski will now manage the fund. 8/18
INEAX Columbia High Yield Bond Fund Jennifer Ponce de Leon, co-portfolio manager, is on a medical leave of absence. A timetable for her return is not set. Brian Lavin, co-portfolio manager, will run the fund until Ms. Ponce de Leon’s return. 7/18
QAACX Federated MDT All Cap Core Fund Brian Greenberg will no longer serve as a portfolio manager for the fund. Damien Zhang joins the other  managers on the team. 8/18
QABGX Federated MDT Balanced Fund Brian Greenberg will no longer serve as a portfolio manager for the fund. Damien Zhang joins the other  managers on the team. 8/18
QALCX Federated MDT Large Cap Growth Fund Brian Greenberg will no longer serve as a portfolio manager for the fund. Damien Zhang joins the other  managers on the team. 8/18
QASCX Federated MDT Small Cap Core Fund Brian Greenberg will no longer serve as a portfolio manager for the fund. Damien Zhang joins the other  managers on the team. 8/18
QASGX Federated MDT Small Cap Growth Fund Brian Greenberg will no longer serve as a portfolio manager for the fund. Damien Zhang joins the other  managers on the team. 8/18
FEDDX Fidelity Emerging Markets Discovery Fund Tim Gannon no longer serves as a co-manager of the fund. Jane Wu joins Xiaoting Zhao, Sam Polyak, Greg Lee, and Jim Hayes on the management team. 7/18
FSRPX Fidelity Select Retailing Portfolio Nicola Stafford is expected to transition off the fund in November 2018. Boris Shepov serves as co-manager and will continue to run the fund after Ms. Stafford’s departure. 7/18
GAGVX Goldman Sachs Blue Chip Fund Effective September 30, 2018, Sean Gallagher will be retiring from Goldman Sachs and will no longer serve as a portfolio manager for the fund. Steven Barry and Steven Becker will continue to serve as portfolio managers for the fund. 7/18
GSCGX Goldman Sachs Capital Growth Fund Effective September 30, 2018, Sean Gallagher will be retiring from Goldman Sachs and will no longer serve as a portfolio manager for the fund. Steven Barry and Steven Becker will continue to serve as portfolio managers for the fund. 7/18
GSGRX Goldman Sachs Equity Income Fund Effective September 30, 2018, Sean Gallagher will be retiring from Goldman Sachs and will no longer serve as a portfolio manager for the fund. Dan Lochner and Charles “Brook” Dane will continue to serve as portfolio managers for the fund. 7/18
GFVAX Goldman Sachs Focused Value Fund Effective September 30, 2018, Sean Gallagher will be retiring from Goldman Sachs and will no longer serve as a portfolio manager for the fund. Charles “Brook” Dane will serve as a portfolio manager for the fund. 7/18
GSIFX Goldman Sachs International Equity ESG Fund Effective August 15, 2018, Suneil Mahindru no longer serves as a portfolio manager for the fund. Abhishek Periwal will join Alexis Deladerrière on the management team. 7/18
GSAKX Goldman Sachs International Equity Income Fund Effective August 15, 2018, Suneil Mahindru no longer serves as a portfolio manager for the fund. Abhishek Periwal will join Alexis Deladerrière on the management team. 7/18
GSLAX Goldman Sachs Large Cap Value Fund Effective September 30, 2018, Sean Gallagher will be retiring from Goldman Sachs and will no longer serve as a portfolio manager for the fund. Charles “Brook” Dane will serve as a portfolio manager for the fund. 7/18
GCMAX Goldman Sachs Mid Cap Value Fund Effective September 30, 2018, Sean Gallagher will be retiring from Goldman Sachs and will no longer serve as a portfolio manager for the fund. Sung Cho and Adam Agress will continue to serve as portfolio managers for the fund. 7/18
GSMAX Goldman Sachs Small/Mid Cap Growth Fund Effective immediately, Steven Barry will no longer serve as a portfolio manager for the fund. Daniel Zimmerman and Michael DeSantis will continue to serve as portfolio managers for the fund. 7/18
HISIX Homestead International Equity Fund No one, but . . . Effective January 2, 2019, Ferrill Roll and Andrew West will serve as co-lead portfolio managers. Scott Crawshaw, Bryan Lloyd, Patrick Todd, and Alexander Walsh will continue to serve as portfolio managers. 7/18
IAEMX Invesco Emerging Markets Flexible Bond Fund Avi Hooper is no longer listed as a portfolio manager for the fund. Rashique Rahman, Michael Hyman, and Robert Turner will continue to manage the fund. 7/18
LGCYX Lord Abbett Global Equity Research Fund Yarek Aranowicz will no longer serve as a portfolio manager for the fund. David Linsen, Jeffrey Arricale, and Sue Kim now manage the fund. 7/18
MAAGX MFS Aggressive Growth Allocation Fund No one, but . . . Natalie Shapiro joins Joseph Flaherty, Jr. in managing the fund. 8/18
MACFX MFS Conservative Allocation Fund No one, but . . . Natalie Shapiro joins Joseph Flaherty, Jr. in managing the fund. 8/18
various MFS Lifetime Series Funds No one, but . . . Natalie Shapiro joins Joseph Flaherty, Jr. in managing the fund. 8/18
MAGWX MFS Growth Allocation Fund No one, but . . . Natalie Shapiro joins Joseph Flaherty, Jr. in managing the fund. 8/18
MAMAX MFS Moderate Allocation Fund No one, but . . . Natalie Shapiro joins Joseph Flaherty, Jr. in managing the fund. 8/18
FAAGX Nuveen Strategy Aggressive Growth Allocation Fund Keith Hembre is no longer listed as a portfolio manager for the fund. Nathan Shetty joins Derek Bloom in managing the fund. 8/18
FSGNX Nuveen Strategy Balanced Allocation Fund Keith Hembre is no longer listed as a portfolio manager for the fund. Nathan Shetty joins Derek Bloom in managing the fund. 8/18
FSFIX Nuveen Strategy Conservative Allocation Fund Keith Hembre is no longer listed as a portfolio manager for the fund. Nathan Shetty joins Derek Bloom in managing the fund. 8/18
FSNAX Nuveen Strategy Growth Allocation Fund Keith Hembre is no longer listed as a portfolio manager for the fund. Nathan Shetty joins Derek Bloom in managing the fund. 8/18
OPEIX OFI Pictet Global Environmental Solutions I Effective immediately, all references to Simon Gottelier in each of the Summary Prospectus, Statutory Prospectus and Statement of Additional Information are deleted. Luciano Diana and Gabriel Micheli will continue to manage the fund. 7/18
OWLSX Old Westbury Large Cap Strategies Fund Rusty Johnson is no longer listed as a portfolio manager for the fund. The other dozen managers remain. 7/18
OWSMX Old Westbury Small & Mid Cap Strategies Fund Ormala Krishnan is no longer listed as a portfolio manager for the fund. Brendan Bradley and John Chisholm join the other 17 managers on the team. 7/18
PMDRX  PIMCO Moderate Duration Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Michael Cudzil joins Scott Mather in managing the fund. 7/18
PTFAX PIMCO RAE Fundamental Advantage PLUS Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PEFFX PIMCO RAE Fundamental PLUS EMG Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PIXAX PIMCO RAE Fundamental PLUS Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PTSOX PIMCO RAE Fundamental PLUS International Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PCFAX PIMCO RAE Fundamental PLUS Small Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PLVVX PIMCO RAE Low Volatility PLUS EMG Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PXLVX PIMCO RAE Low Volatility PLUS Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PLVBX PIMCO RAE Low Volatility PLUS International Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, and Robert Arnott on the management team. 7/18
PWLAX PIMCO RAE Worldwide Long/Short PLUS Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi, Josh Davis, and Robert Arnott on the management team. 7/18
PSPTX PIMCO StocksPLUS Absolute Return Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi on the management team. 7/18
PSPAX PIMCO StocksPLUS Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi on the management team. 7/18
PIPAX PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged) Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi on the management team. 7/18
PPUAX PIMCO StocksPLUS International Fund (Unhedged) Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi on the management team. 7/18
PSSAX PIMCO StocksPLUS Short Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi on the management team. 7/18
PCKAX PIMCO StocksPLUS Small Fund Sudi Mariappa will no longer serve as a portfolio manager for the fund. Jing Yang and Bryan Tsu have joined Christopher Brightman, Mohsen Fahmi on the management team. 7/18
RMPLX RiverNorth Marketplace Lending Corporation No one, but . . . Adrew Kerai joins Philip Bartow and Patrick Galley on the management team. 7/18
TRIGX T. Rowe Price International Value Equity Fund Jonathan Matthews will no longer serve as a portfolio manager for the fund. Sebastian Mallet will now manage the fund. 7/18
WFEMX WCM Focused Emerging Markets Fund Effective June 30, 2018, Paul Black and Kurt Winrich will no longer serve as portfolio managers of the fund. Gregory Ise and Mike Tian will join Sanjay Ayer, Peter Hunkel, and Michal Trigg as portfolio managers for the fund. 7/18
WWHYX Westwood Opportunistic High Yield Fund Ryan Carrington will no longer serve as a portfolio manager for the fund. Trevor Kaufman joins Hannah Strasser in managing the fund. 7/18

 

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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.