October 2018 IssueLong scroll reading

Manager changes

By Chip

Yikes, the world is spinning faster and faster! In the course of a normal month we’ll highlight 60-70 manager changes in equity and allocation funds. We mostly skip bond funds because, frankly, it’s a danged rare fixed income team that’s materially affected by the departure of a single individual. This month, though, brought a record 105 manager changes.

By far the most consequential was  the fission of Artisan’s outstanding global value team, which has been nominated six times for Morningstar’s “international manager of the year” honors.  David Samra and Daniel O’Keefe have been working together at Artisan since 2002, have co-managed Global Value (ARTGX, four stars, Gold rated) since inception and have managed or co-managed International Value (ARTKX, five stars, Gold rated) since inception. They’ve now divided the responsibility for those funds, with Mr. O’Keefe leading the Global Value fund’s management team and Mr. Samra leading the International Value fund’s team. Both will gain two co-managers.

At a step down in significance, Boniface “Buzz” Zaino steps aside from several Royce funds and Jayme Wiggins does likewise at Intrepid. Both were senior people at well-respected smaller shops.

 

Ticker Fund Out with the old In with the new Dt
AGFQX 361 Global Managed Futures Strategy Fund Clifford Stanton will no longer serve as a portfolio manager to the fund. Blaine Rollins, Aditya Bhave, Jason Leupold, and John Riddle will continue to serve as portfolio managers of the fund. 9/18
AGMQX 361 Macro Opportunity Fund Clifford Stanton will no longer serve as a portfolio manager to the fund. Blaine Rollins, Aditya Bhave, and Jason Leupold will continue to serve as portfolio managers of the fund. 9/18
AMFQX 361 Managed Futures Strategy Fund Clifford Stanton will no longer serve as a portfolio manager to the fund. Blaine Rollins, Aditya Bhave, Jason Leupold, John Riddle and Randall Bauer will continue to serve as portfolio managers of the fund. 9/18
AIEQ AI Powered Equity ETF (AIEQ) No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
AHLAX American Beacon AHL Managed Futures Strategy Fund Nick Granger will no longer serve as a portfolio manager for the fund. Matthew Sargaison will run the fund with Russell Korgaonkar. 9/18
ARTGX Artisan Global Value Fund N. David Samra will no longer manage the fund. Daniel O’Keefe will continue to manage the fund and is joined by Justin Bandy and Michael McKinnon. 9/18
ARTKX Artisan International Value Fund Daniel O’Keefe will no longer manage the fund. N. David Samra will continue to manage the fund and is joined by Ian McGonigle and Joseph Vari. 9/18
BXEAX Barings Emerging Markets Debt Blended Total Return Fund No one, but . . . Natalia Krol joins Ricardo Adrogué and Cem Karacadag in managing the fund. 9/18
BAMBX BlackRock Alternative Capital Strategies Fund No one, but . . . Jeffrey Rosenberg joins Tom Parker and Scott Radell in managing the fund. 9/18
MDEFX BlackRock Eurofund Nigel Bolton and Brian Hall are no longer listed as portfolio managers for the fund. Andreas Zoellinger will now manage the fund. 9/18
ITEQ BlueStar Israel Technology ETF (ITEQ) No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
BPGIX Boston Partners Global Equity Fund No one, but . . . Joshua White joins Joshua Jones, Christopher Hart, and Joseph Feeney in managing the fund. 9/18
BGRSX Boston Partners Global Long/Short Fund No one, but . . . Joshua White joins Joshua Jones, Christopher Hart, and Joseph Feeney in managing the fund. 9/18
BPLEX Boston Partners Long/Short Equity Fund No one, but . . . Patrick Regan joins Robert Jones in managing the fund. 9/18
BUFEX Buffalo Large Cap Fund Elizabeth Jones is no longer listed as a portfolio manager for the fund. Alexander Hancock will now manage the fund. 9/18
ETAFX Carillon Cougar Tactical Allocation Fund James Breech will no longer serve as a portfolio manager for the fund. Abdullah Sheikh will continue to manage the fund. 9/18
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. 9/18
CAGOX Cavalier Growth Opportunities Fund Other managers are no longer listed. As of September 1, Brian Shevland and Lee Calfo will manage the fund. 9/18
CAVTX Cavalier Tactical Rotation Fund Other managers are no longer listed. As of September 1, Dr. Henry Ma will manage the fund. 9/18
DSGAX Dreyfus Select Managers Small Cap No one, but . . . Alexi Makkas joins the other 19 or so managers. 9/18
MJ ETFMG Alternative Harvest ETF No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
IFLY ETFMG Drone Economy Strategy ETF No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
HACK ETFMG Prime Cyber Security ETF No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
SILJ ETFMG Prime Junior Silver ETF No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
IPAY ETFMG Prime Mobile Payments ETF No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
GAMR ETFMG Video Game Tech ETF No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
ETHO Etho Climate Leadership U.S. ETF No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
BEARX Federated Prudent Bear Fund Lila Murphy will no longer serve as a portfolio manager for the fund. P. Ryan Bend and Chad Hudson will continue to manage the fund. 9/18
FICDX Fidelity Canada Fund Risteard Hogan is no longer listed as a portfolio manager for the fund. Ryan Oldham has been managing the fund since June 20, 2018. 9/18
FIEUX Fidelity Europe Fund Stefan Lindblad is no longer listed as a portfolio manager for the fund. Andrew Sergeant has been managing the fund since June 1, 2018. 9/18
Various Fidelity Freedom Index Funds No one, but . . . Finola McGuire Foley joins Andrew Dierdorf and Brett Sumsion in managing the funds. 9/18
FFGCX Fidelity Global Commodity Stock Fund Joe Wickwire will no longer serve as a portfolio manager for the fund. Jody Simes will now manage the fund. 9/18
FDCPX Fidelity Select Computers Portfolio Christopher Lin will no longer serve as a portfolio manager for the fund. Caroline Tall will continue to manage the fund. 9/18
FSAGX Fidelity Select Gold It is expected that Joe Wickwire will retire effective as of the close of business on or about March 29, 2019. Steve Calhoun joins Joe Wickwire and will continue to manage the fund upon Mssr. Wickwire’s retirement. 9/18
FPHAX Fidelity Select Pharmaceuticals Portfolio Asher Anolic is no longer listed as a portfolio manager for the fund. Karim Suwwan de Felipe will continue to manage the fund. 9/18
FSPTX Fidelity Select Technology Portfolio  No one, but . . . Nidhi Gupta joins Charlie Chai in managing the funds. It’s expected the Mssr. Chai will retire at the end of the year. 9/18
FDSCX Fidelity Stock Selector Small Cap Fund Richard Thompson will no longer serve as a portfolio manager for the fund. Jennifer Fo has been named interim co-manager, joining Shadman Riaz, Morgen Peck, and Eirene Kontopoulos, until Mssr. Venanzi’s return. 9/18
FTRNX Fidelity Trend Fund No one, but . . . Shilpa Mehra joins Daniel Kelley in managing the fund. 9/18
SCAFX Fiera Capital STRONG Nations Currency Fund No one, but . . . effective as of August 1, 2018, Jonathan Lewis has resumed his role as  lead portfolio manager of the Fund. Iraj Kani and Jonathan Lewis will continue to manage the fund. 9/18
HIOIX Fintrust Income and Opportunity Fund Hope Lundt and John Mills are no longer listed as portfolio managers for the fund. Allen Gillespie, David Lewis, and James Treadwell will now manage the fund. 9/18
FRBSX Franklin Balance Sheet Investment Fund Daniel Perrin is no longer listed as a portfolio manager for the fund. Grace Hoefig will continue to manage the fund. 9/18
FAAAX Franklin K2 Alternative Strategies Fund David Saunders is no longer listed as a portfolio manager for the fund. Robert Christian and John Brooks Ritchey are joined by Anthony Zanolla on the management team. 9/18
TFSIX Franklin Mutual Financial Services Fund Richard Cetlin is no longer listed as a portfolio manager for the fund. Andrew Sleeman and Andrew Dinnhaupt will continue to manage the fund. 9/18
GMAMX Goldman Sachs Multi-Manager Alternatives Fund Robert Mullane is no longer listed as a portfolio manager for the fund. Betsy Gorton and Kent Clark will continue to manage the fund. 9/18
HIINX Harbor International Fund Howard Appleby, Jean-Francois Ducrest, and James LaTorre are no longer listed as portfolio managers for the fund. Simon Todd, Michael Nickson, William MacLeod, Simon Somerville, Neil Ostrer, Nick Longhurst, Michael Godfrey, David Cull, Charles Carter, and William Arah will now manage the fund. 9/18
HIIGX Harbor International Growth Fund Tom Walsh will no longer serve as a portfolio manager for the fund. Moritz Sitte, Sophie Earnshaw, Joseph Faraday, Iain Campbell, and Gerard Callahan will continue to manage the fund. 9/18
ITHAX Hartford Capital Appreciation Fund Kent Stahl has announced his plan to retire effective December 31,2018. Gregg Thomas will continue to manage the fund. 9/18
HIACX Hartford Capital Appreciation HLS Fund Kent Stahl has announced his plan to retire effective December 31,2018. Gregg Thomas will continue to manage the fund. 9/18
HINVX Heartland International Value Fund Michael Jolin will no longer serve as a portfolio manager for the fund. Robert Sharpe will continue to manage the fund. 9/18
ICMBX Intrepid Capital Fund Jayme Wiggins will no longer serve as a portfolio manager for the fund. Mark Travis and Jason Lazarus will continue to manage the fund. 9/18
ICMAX Intrepid Endurance Fund Jayme Wiggins will no longer serve as a portfolio manager for the fund. Mark Travis will now manage the fund. 9/18
ICMTX Intrepid Select Fund Jayme Wiggins will no longer serve as a portfolio manager for the fund. Clay Kirkland and Mark Travis will now manage the fund. 9/18
GLTAX Invesco Global Targeted Returns Fund No one, but . . . Danielle Singer joins Richard Batty, David Jubb, David Millar, and Gwilym Satchell. 9/18
IARAX Invesco 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. 9/18
JOLAX Janus Henderson Emerging Markets Managed Volatility Fund Phillip Whitman is no longer listed as a portfolio manager for the fund. Adrian Banner, Vassilios Papathanakos, and Joseph Runnels continue to manage the fund. 9/18
JGDAX Janus Henderson Global Income Managed Volatility Fund Phillip Whitman is no longer listed as a portfolio manager for the fund. Adrian Banner, Vassilios Papathanakos, and Joseph Runnels continue to manage the fund. 9/18
JMIAX Janus Henderson International Managed Volatility Fund Phillip Whitman is no longer listed as a portfolio manager for the fund. Adrian Banner, Vassilios Papathanakos, and Joseph Runnels continue to manage the fund. 9/18
JRSAX Janus Henderson U.S. Managed Volatility Fund Phillip Whitman is no longer listed as a portfolio manager for the fund. Adrian Banner, Vassilios Papathanakos, and Joseph Runnels continue to manage the fund. 9/18
LITOX Lazard Global Realty Equity Portfolio Gautam Garg is no longer listed as a portfolio manager for the fund. Christopher Hartung joins Jay Leupp in managing the fund. 9/18
LREOX Lazard US Realty Equity Portfolio Gautam Garg is no longer listed as a portfolio manager for the fund. Christopher Hartung joins Jay Leupp in managing the fund. 9/18
LSGLX Loomis Sayles Global Bond Fund Effective March 2019, Kenneth Buntrock, portfolio manager of the fund, will retire. David Rolley, Lynda Schweitzer and Scott Service will remain as co-portfolio managers of the fund. 9/18
LSFAX Loomis Sayles Senior Floating Rate and Fixed Income Fund Effective March 2019, Kevin Perry, portfolio manager of the fund, will retire. John Bell and Michael Klawitter will remain as co-portfolio managers of the fund. 9/18
LDFVX Lord Abbett Fundamental Equity Fund Sean Aurigemma is no longer listed as a portfolio manager for the fund. Jeff Diamond, So Young Lee, and Eli Rabinowich will now manage the fund. 9/18
MADFX Matrix Advisors Dividend Fund Steven Pisarkiewicz has retired and will no longer serve as a portfolio manager for the fund. David Katz, Lon Birnholz, Jordan Posner, Steven Roukis, and Stephan Weinberger will continue to manage the fund.. 9/18
MDIDX MFS International Diversification Fund Thomas Melendez will no longer be a portfolio manager, effective March 31, 2019. Camille Humphries Lee joins Mssr. Melendez in managing the fund. 9/18
MRSAX MFS Research International Fund Thomas Melendez will no longer be a portfolio manager, effective March 31, 2019. Camille Humphries Lee joins Mssr. Melendez, Jose Luis Garcia, and Victoria Higley in managing the fund. 9/18
NCEGX North Country Equity Growth Fund Manuel Orta will no longer serve as a portfolio manager for the fund. Adam Horowitz joins Peter Capozzola in managing the fund. 9/18
QQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund Keith Hembre is no longer listed as a portfolio manager for the fund. Jody Hrazanek will now manage the fund. 9/18
SPXX Nuveen S&P 500 Dynamic Overwrite Fund Keith Hembre is no longer listed as a portfolio manager for the fund. Jody Hrazanek will now manage the fund. 9/18
OASVX Optimum Small-Mid Cap Value Fund Susan Schmidt is no longer listed as a portfolio manager for the fund. William Costello joins Menno Vermeulen, Greg Sleight, Puneet Mansharamani, Josef Lakonishok, Guy Lakonishok, Prashant Inamdar, Thomas Lieu, and Grant Taber in managing the fund. 9/18
PRCGX Perritt MicroCap Opportunities Fund George Metrou will no longer serve as a portfolio manager for the fund. Michael Corbett will continue to manage the fund. 9/18
LSEIX Persimmon Long Short Ken Cavazzi is no longer listed as a portfolio manager for the fund. David Daglio joins Timothy Melly, Arthur Holley, Gregory Horn, H. George Dai, Daniel Brazeau, and Joshua Bennett in managing the fund. 9/18
PIBAX PGIM Balanced Fund Ted Lockwood has retired, as planned. Stacie Mintz, John Moschberger, Edward Lithgow, Joel Kallman, Edward Campbell, and Irene Tunkel will continue to serve as portfolio managers of the fund managed by Quantitative Management Associates LLC (QMA). 9/18
JDUAX PGIM Conservative Allocation Fund Ted Lockwood has retired, as planned. Joal Kallman, Peter Vaicunas, and Edward Campbell will continue to manage the fund. 9/18
JDAAX PGIM Growth Allocation Fund Ted Lockwood has retired, as planned. Joal Kallman, Peter Vaicunas, and Edward Campbell will continue to manage the fund. 9/18
PCGAX PGIM Income Builder Fund Ted Lockwood has retired, as planned. Edward Campbell, Rory Cummings, and Peter Vaiciunas will continue to serve as portfolio managers for the segment of the fund managed by Quantitative Management Associates LLC (QMA). 9/18
JDTAX PGIM Moderate Allocation Fund Ted Lockwood has retired, as planned. Joal Kallman, Peter Vaicunas, and Edward Campbell will continue to manage the fund. 9/18
PAMGX PGIM QMA Defensive Equity Fund Ted Lockwood has retired, as planned. Edward Campbell, Joel Kallman, Edward Lithgow, and Peter Vaiciunas will continue to serve as portfolio managers for the fund. 9/18
PUDAX PGIM Real Assets Fund Ted Lockwood has retired, as planned. Edward Keon, Jr., Edward Campbell, Joel Kallman, Rory Cummings, Yesim Tokat-Acikel, and Marco Aiolfi will continue to serve as portfolio managers for the segment of the fund managed by Quantitative Management Associates LLC (QMA). 9/18
PCGRX Pioneer Mid Cap Value Fund No one, but . . . Timothy Stanish joins Edward Shadek and Raymond Haddad on the management team. 9/18
PMDAX Principal Small-Midcap Dividend Income Fund No one, but . . . Sarah Radecki joins Daniel Coleman and David Simpson on the management team. 9/18
BIKR Rogers AI Global Macro ETF (BIKR) No one, but . . . Ning Shen joins Samuel Masucci, James Francis, and Devin Ryder on the management team. 9/18
RLPHX Royce Low-Priced Stock Fund Robert Kosowsky is no longer listed as a portfolio manager for the fund. James Stoeffel and Brendan Hartman will continue to manage the fund. 9/18
ROSFX Royce Micro-Cap Opportunity Fund Boniface “Buzz” Zaino will be retiring from the fund, effective October 1, 2018. He will stay on as a Royce senior advisor. Robert Kosowsky joins William Hench in managing the fund. 9/18
RYOTX Royce Micro-Cap Portfolio Robert Kosowsky is no longer listed as a portfolio manager for the fund. James Stoeffel and Brendan Hartman will continue to manage the fund. 9/18
RYPNX Royce Opportunity Fund Boniface “Buzz” Zaino will be retiring from the fund, effective October 1, 2018. He will stay on as a Royce senior advisor. Robert Kosowsky joins William Hench in managing the fund. 9/18
PISRX Salient International Small Cap Fund Bill Barker and Justin Hill will no longer manage the fund. James O’Leary and Aiden O’Leary will now manage the fund. 9/18
GAL SPDR SSGA Global Allocation ETF Lorne Johnson will no longer serve as a portfolio manager for the fund. Jeremiah Holly joins Timothy Furbush and Michael Martel in managing the fund. 9/18
INKM SPDR SSGA Income Allocation ETF Lorne Johnson will no longer serve as a portfolio manager for the fund. Timothy Furbush, Michael Martel, and Jeremiah Holly will continue to manage the fund. 9/18
SGLAX Summit Global Investments Global Low Volatility Fund No one, but . . . Matt Hanna and Aash Shah join David Harden in managing the fund. 9/18
LVOLX Summit Global Investments U.S. Low Volatility Equity Fund No one, but . . . Matt Hanna and Aash Shah join David Harden in managing the fund. 9/18
TRREX T. Rowe Price Real Estate Fund David Lee will be retiring from T. Rowe Price at the end of 2018. Effective January 1, 2019, Nina P. Jones will replace Mr. Lee as the fund’s portfolio manager. 9/18
AAAGX Thrivent Large Cap Growth Fund Darren Bagwell will no longer serve as a portfolio manager for the fund. Lauri Brunner will now manage the fund. 9/18
AALGX Thrivent Large Cap Stock Fund Darren Bagwell will no longer serve as a portfolio manager for the fund. Lauri Brunner joins Kurt Lauber and Noah Monsen in managing the fund. 9/18
VCFVX VALIC Company I International Value Heather Arnold and Norman Boersma are no longer listed as portfolio managers for the fund. Venkateshwar Lal and Dale Winner will now manage the fund. 9/18
VGWIX Vanguard Global Wellesley Income Fund Effective June 30, 2019, John Keogh will retire and no longer serve as a portfolio manager for the fund. Loren Moran, Michael Stack, and Ian Link will remain as the portfolio managers of the fund upon Mr. Keogh’s retirement. 9/18
VWINX Vanguard Wellesley Income Fund Effective June 30, 2019, John Keogh will retire and no longer serve as a portfolio manager for the fund. Loren Moran, Michael Stack, and W. Michael Reckmeyer, III, will remain as the portfolio managers of the fund upon Mr. Keogh’s retirement. 9/18
VWELX Vanguard Wellington Fund Effective June 30, 2019, John Keogh will retire and no longer serve as a portfolio manager for the fund. Edward Bousa, Loren Moran, and Michael Stack will remain as the portfolio managers of the fund upon Mr. Keogh’s  retirement. 9/18
VWNFX Vanguard Windsor II Fund Effective at the close of business on December 31, 2018, Sheldon J. Lieberman will retire and will no longer serve as a portfolio manager for the fund. Additionally, Christopher Blake is no longer listed as a portfolio manager for the fund. Ronald Temple joins Binbin Guo, David Ganucheau, Jeff Fahrenbruch, James Stetler, Lewis Sanders, John Mahedy, Andrew Lacey, and George Davis in managing the fund. Upon Mssr. Lieberman’s retirement, Scott McBride will also join the team. 9/18
VMSAX Virtus Aviva Multi-Strategy Target Return Fund Brendan Walsh, Daniel James, and Ian Pizer are no longer listed as portfolio managers for the fund. James McAlevey and Mark Robertson join Peter Fitzgerald on the management team. 9/18
IBPSX Voya Balanced Portfolio Christopher Corapi has announced he intends to retire on or about June 1, 2019. Matthew Toms, Barbara Reinhard, and Paul Zemsky will continue to manage the fund after his retirement. 9/18
ISVGX Voya Growth and Income Portfolio Christopher Corapi has announced he intends to retire on or about June 1, 2019. Vincent Costa, James Dorment, and Kristy Finegan will continue to manage the fund after his retirement. 9/18
IEDAX Voya Large Cap Value Christopher Corapi has announced he intends to retire on or about June 1, 2019. Vincent Costa will continue to manage the fund after his retirement. 9/18
WHGMX Westwood SMidCap Fund Susan Schmidt is no longer listed as a portfolio manager for the fund. William Costello joins Prashant Inamdar, Thomas Lieu, and Grant Taber in managing the fund. 9/18
WHGPX Westwood SMidCap Plus Fund Susan Schmidt is no longer listed as a portfolio manager for the fund. William Costello joins Prashant Inamdar, Thomas Lieu, and Grant Taber in managing the fund. 9/18
This entry was posted in Manager changes on by .

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.