May 2019 IssueLong scroll reading

Manager changes, April 2019

By Chip

In the course of the average month, MFO chronicles partial or complete manager changes at 60 – 80 active equity, alternative or balanced mutual funds. We rarely report on changes at passive products or “vanilla” bond funds because, in about 99% of such instances, the changes are inconsequential to the fund’s performance.

This month, changes were reported at only 30 funds – a few low which largely parallels the lull in fund liquidations which we report in our “Dustbin of History” feature. Two of those changes are attendant to the unexpected death of Patrick Flynn, of Neuberger Berman. Mr. Flynn left behind a wife and several young children, for whom we mourn and to whom we extend a hope of peace and comfort in the hard days ahead.

Ticker Fund Out with the old In with the new Dt
AISCX Acuitas International Small Cap Fund Zu Cowperthwaite, Rahwa Senay, Waldemar Mozes (still the finest Transylvanian PM ever), Mostafa Hassan, and Jonathan Brodsky are no longer listed as portfolio managers for the fund. David Savignac, Qing Ji, Robert Beauregard, Christopher Tessin, and Dennis Jensen will continue to manage the fund. 4/19
AFMCX Acuitas Us Microcap Fund Stacey Nutt is no longer listed as a portfolio manager for the fund. James Bitzer, David Jensen, Christopher Tessin, Michael Thomas, Michael Waterman, Todd Wolter, Timothy Chatard, DeShay McCluskey, and Touk Sinantha will continue to manage the fund. 4/19
SMAMX ALPS/Smith Total Return Bond Fund No one, but . . . Eric Bernum joins Gibson Smith in managing the fund. 4/19
AFPTX AMG Managers Fairpointe ESG Equity Fund Mary Pierson will no longer serve as a portfolio manager of the fund. Brian Washkowiak rejoins Thyra Zerhusen and Frances Tuite on the management team. 4/19
CHTTX AMG Managers Fairpointe Mid Cap Fund Mary Pierson will no longer serve as a portfolio manager of the fund. Frances Tuite joins Thyra Zerhusen, Marie Lorden, and Brian Washkowiak on the management team. 4/19
AMFAX ASG Managed Futures Strategy Fund Effective July 1, 2019, Robert Sinnott will no longer serve as a portfolio manager of the fund. Alexander Healy, Kathryn Kaminski, John Perry, Philippe Lüdi and Robert Rickard will remain as managers of the fund. 4/19
MDLOX Blackrock Global Allocation Fund Kent Hogshire is no longer listed as a portfolio manager for the fund. Rick Rieder, Dan Chamby, Russ Koesterich, and David Clayton will continue to manage the fund. 4/19
DRAKX BNY Mellon Sustainable Balanced Fund Paul Flood and Bhavin Surendra Shah are no longer listed as portfolio managers for the fund. Karen Wong, Yuko Takano, Rob Stewart, Rajesh Shant, Nancy Rogers, and Paul Benson now manage the fund. 4/19
BCIIX Brown Capital Management International Equity Fund No one, but . . . Daniel Boston joins Kabir Goyal, Duncan Evered, and Maurice Haywood in managing the fund. 4/19
BCSVX Brown Capital Management International Small Company Fund No one, but . . . Daniel Boston joins Kabir Goyal, Duncan Evered, and Maurice Haywood in managing the fund. 4/19
BCSIX Brown Capital Management Small Company Fund No one, but . . . Chaitanya Yaramada joins Daman Blakeny, Andrew Fones, Damien Davis, Kempton Ingersol, Keith Lee, and Robert Hall on the management team. 4/19
CHNAX Clough China Fund Brian Chen is no longer serving as a co-portfolio manager of the fund. Charles Clough and Anupam Bose continue to serve as co-portfolio managers of the fund. 4/19
DNEMX Dunham Emerging Markets Stock Fund Eric Leve, Peter Hill, and Dan McKellar are no longer listed as portfolio managers for the fund. Brian Coffey, Ian Beattie, and Oliver Adcock are now managing the fund. 4/19
FADLX Frost Low Duration Bond Fund No one, but . . . Markie Atkisson joins Jeffery Elswick in managing the fund. 4/19
GTCSX Glenmede Small Cap Equity Portfolio Robert Mancuso retired as a portfolio manager to the fund. Christopher Colarik and Jordan Irving will continue to manage the fund. 4/19
GSAGX Goldman Sachs Asia Equity Fund Kevin Ohn and Seong Kook Jung are no longer listed as portfolio managers for the fund. Basak Yavus, Sumit Mangal, and Hiren Dasani will now manage the fund. 4/19
HYFIX Harbor High-Yield Bond Fund Steven Schweitzer no longer serves as a portfolio manager for the fund. Mark Shenkman, Justin Slatky, Eric Dobbin, Robert Kricheff, and Neil Wechsler continue to serve as co-portfolio managers for the fund. 4/19
TGRDX Invesco Pacific Growth Fund William Yuen and Daiji Ozawa are no longer listed as portfolio managers for the fund. Mike Shiao is now running the fund. 4/19
HEMRX Janus Henderson Emerging Markets Fund Glen Finegan is no longer listed as a portfolio manager for the fund. Stephen Deane joins Michael Cahoon in managing the fund. 4/19
JFNAX Janus Henderson Global Life Sciences Fund As of April 30, 2019, all references to Ethan Lovell are deleted from the fund’s prospectuses. Mr. Lovell intends to remain at Janus Capital Management LLC until June 2019 to assist in transitioning the fund. Andrew Acker will continue to manage the fund. 4/19
JHAAX John Hancock Global Absolute Return Strategies Fund Guy Stern is no longer the portfolio manager of the fund. Aymeric Forest is added as the portfolio manager of the fund. 4/19
MOPIX MainStay MacKay Small Cap Core Fund Michael Welhoelter, David Pearl, and Justin Howell are no longer listed as portfolio managers for the fund. Migene Kim and Mona Patni will now manage the fund. 4/19
NHINX Neuberger Berman High Income Bond Fund We are saddened to report the death of co-manager Patrick Flynn, on 4/23/2019. Thomas P. O’Reilly, Russ Covode, Daniel Doyle and Joseph Lind continue to manage the fund. 4/19
NHSAX Neuberger Berman Short Duration High Income Fund We are saddened to report the death of co-manager Patrick Flynn, at age 49, on 4/23/2019. Thomas P. O’Reilly, Russ Covode, Daniel Doyle and Joseph Lind continue to manage the fund.  
NBMIX Neuberger Berman Small Cap Growth Fund Marco Minonne will cease his portfolio responsibilities on May 24, 2019. Chad Bruso, Trevor Moreno, Kenneth Turek will continue to manage the fund. 4/19
FSNHX Silk Invest New Horizons Frontier Fund Olufunmilayo Akinluyi will no longer serve as a portfolio manager for the fund. Hifza Zia joins Zin El Abidin Bekkali in managing the fund. 4/19
SSPGX State Street Institutional Premier Growth Equity Fund Effective August 30, 2019, David Carlson will no longer serve as a portfolio manager of the fund. William Sandow will continue to manage the fund. 4/19
SIVIX State Street Institutional Small-Cap Equity Fund David Wiederecht will no longer serve as a portfolio manager for the fund. Shawn McKay joins Dennis Santos, Marc Shapiro, Frank Latuda, Michael Cook, Scott Brayman, and Robert Anslow on the management team. 4/19
SUSIX State Street Institutional U.S. Equity Fund Effective August 30, 2019, David Carlson will no longer serve as a portfolio manager of the fund. Michael Solecki will join Paul Nestro and Christopher Sierakowski on the management team. 4/19
FAUDX Strategic Advisers Short Duration Fund No one, but . . . Christopher Heavey joins Jonathan Duggan in managing the fund. 4/19

 

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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.