August 2019 IssueLong scroll reading

Manager changes, July 2019

By Chip

Every month we track changes to the management teams of equity, alternative and balanced funds, along with a handful of fixed-income ones. Why “a handful”? Because most fixed-income funds are such sedate creatures, with little performance difference between the top quartile funds and the bottom quartile, that the changes are not consequential. Even in the realms we normally cover, the rise of management committees dilutes the significance of any individual’s departure or arrival. This is one of the months in which the number of funds making changes is large – 82 – but the number making dramatic changes is minimal. A couple funds – DWS and Mass Mutual – lost their entire management teams and a couple of funds have announced the impending retirements of long-time managers. Other than that, mostly tweaks this month.

Ticker Fund Out with the old In with the new Dt
GSXAX Aberdeen U.S. Small Cap Equity Fund No one, but … Tim Skiendzielewski joins Ralph Bassett, Jason Kotik, and Francis Radano on the management team. 7/19
Various All of the Meeder Funds Effective immediately, Clinton Brewer will no longer serve as a portfolio manager for the funds. All other members of the investment teams will continue to serve as portfolio managers to the funds. 7/19
TLEVX AMG GW&K Trilogy Emerging Markets Equity Fund, formerly AMG Trilogy Emerging Markets Equity Fund Robert Beckwitt is no longer listed as a portfolio manager for the fund. Brad Miller joins Pablo Salas and William Sterling on the management team. 7/19
ARDEX AMG River Road Dividend All Cap Value Fund No one, immediately, but effective December 31, 2019, James Shircliff will no longer serve as a portfolio manager for the fund. Henry Sanders, Thomas Forsha, and Andrew McIntosh will continue to manage the fund. 7/19
ADVTX AMG River Road Dividend All Cap Value Fund II  No one, immediately, but effective December 31, 2019, James Shircliff will no longer serve as a portfolio manager for the fund. Henry Sanders, Thomas Forsha, and Andrew McIntosh will continue to manage the fund. 7/19
AVEGX Ave Maria Growth Fund Brain Milligan has resigned from the subadvisor and is no longer listed as a portfolio manager for the fund. Adam Gaglio joins Richard Platte in managing the fund. 7/19
AVEDX Ave Maria Rising Dividend Fund Adam Gaglio will no longer serve as a portfolio manager for the fund. Joseph Skornicka joins Richard Platte and George Schwartz in managing the fund. 7/19
BGITX Baillie Gifford International Equity Fund No one, but … Jenny Tabberer is henceforth Jenny Davis. 7/19
BVEFX Becker Value Equity Fund McGarr has retired from Becker Capital Management and will no longer serve as a portfolio manager to the fund. Blake Howells joins Marian Kessler, Steve Laveson, Patrick Becker, Andy Murray, Thomas (T.J.) McConville, and Sid Parakh in managing the fund. 7/19
CPEAX Catalyst Dynamic Alpha Fund No one, but … Luke O’Neill joins Cory Krebs and Bruce Miller in managing the fund. 7/19
SBVAX ClearBridge Small Cap Value Fund Juan Miguel del Gallego will no longer serve as a portfolio manager for the fund. Albert Grosman and Brian Lund will manage the fund. 7/19
DABAX Delaware Global Value Fund Sharon Hill is no longer listed as a portfolio manager for the fund. Christopher Gowlland has joined the team! The remainder of the starting lineup is Jens Hansen, Klaus Petersen, Claus Juul and Åsa Annerstedt. 7/19
DEGIX Delaware International Value Equity Fund Sharon Hill is no longer listed as a portfolio manager for the fund. Christopher Gowlland has joined the team! The remainder of the starting lineup is Jens Hansen, Klaus Petersen, Claus Juul and Åsa Annerstedt. 7/19
DURAX DWS European Equity, which becomes DWS ESG International Core Equity Fund on October 1, 2019 The current management team will be replaced on or about October 1, 2019. Pankaj Bhatnagar and Arno Puskar will manage the fund. 7/19
IHIAX Federated Emerging Market Debt Fund No one, but … Mohammed Elmi, an employee of Federated Investors (UK) has joined the two Federated (US) managers, Ihab Salib and Jason DeVito in managing the fund. 7/19
Various Fidelity Dividend ETF for Rising Rates, Fidelity High Dividend ETF, Fidelity Low Volatility Factor ETF, Fidelity Momentum Factor ETF, Fidelity Quality Factor ETF, Fidelity Value Factor ETF, Fidelity Emerging Markets Index Fund, Fidelity Global ex U.S. Index Fund, Fidelity International High Dividend ETF and Fidelity International Value Factor ETF Patrick Waddell has left the building. Payal Gupta is taking over. 7/19
FRMCX Franklin Microcap Value No one immediately, but Bruce C. Baughman will be retiring on December 31, 2019. Oliver Wong joins in managing the fund now, and will become the sole manager upon Mssr. Baughman’s retirement. 7/19
FRSTX Franklin Strategic Income Fund No one, but … William Chong and David Yuen join Sonal Desai and Patricia O’Connor in managing the fund. 7/19
GFSFX GMO Foreign Small Companies Fund Neil Constable is no longer listed as a portfolio manager for the fund. Simon Harris and Josh White will manage the fund. 7/19
GMOIX GMO International Equity Fund Neil Constable is no longer listed as a portfolio manager for the fund. Simon Harris and Josh White will manage the fund. 7/19
GMOKX GMO Risk Premium Fund Neil Constable is no longer listed as a portfolio manager for the fund. Simon Harris and Van Le will manage the fund. 7/19
GTMIX GMO Tax-Managed International Equity Fund Neil Constable is no longer listed as a portfolio manager for the fund. Simon Harris and Josh White will manage the fund. 7/19
GMUEX GMO US Equity Fund Neil Constable is no longer listed as a portfolio manager for the fund. Simon Harris and Josh White will manage the fund. 7/19
GRGTX Goldman Sachs Equity Income Fund Daniel Lochner will no longer serve as a portfolio manager for the fund. Charles “Brook” Dane will continue to serve as a portfolio manager for the fund. 7/19
GGOTX Goldman Sachs Growth Opportunities No one, but … Jenny Chang will join Steven Barry in managing the fund. 7/19
GKIRX Goldman Sachs Income Builder Fund Daniel Lochner will no longer serve as a portfolio manager for the fund. Ashish Shah, Ron Arons, Collin Bell, Charles “Brook” Dane and Christopher Lvoff will continue to serve as portfolio managers for the fund. 7/19
HAFYX Hartford AARP Balanced Retirement Fund Lutz-Peter Wilke, David Elliott, and Campe Goodman are no longer listed as portfolio managers for the fund. Christopher Goolgasian now manages the fund. 7/19
SAFFX Hedeker Strategic Appreciation Fund Michael McClain no longer serves as a portfolio manager to the fund. Ryan Casaquite will now manage the fund. 7/19
CHTRX Invesco Charter Fund Ronald Sloan is no longer listed as a portfolio manager for the fund. Manind Govil, Paul Larson, and Benjamin Ram are managing the fund. 7/19
GTAGX Invesco Mid Cap Core Equity Fund Ronald Sloan is no longer listed as a portfolio manager for the fund. Raymond Anello, Joy Budzinski, Kristin Ketner, Magnus Krantz, Raman Vardharaj, Adam Weiner,
and Matthew Ziehl will now manage the fund.
7/19
VGRAX Invesco Mid Cap Growth Fund James Leach is no longer listed as a portfolio manager for the fund. Justin Livengood and Ronald Zibelli will now manage the fund. 7/19
OPTFX Invesco Oppenheimer Capital Appreciation Fund Paul Larson is no longer listed as a portfolio manager for the fund. Ido Cohen and Erik Voss have taken over managing the fund. 7/19
OPPEX Invesco Oppenheimer Capital Income Fund Krishna Memani and Michelle Elena Borré Massick are no longer listed as portfolio managers for the fund. Mark Ahnrud, John Burrello, Chris Devine, Scott Hixon, Christian Ulrich, and Scott Wolle will now manage the fund. 7/19
OSVAX Invesco Oppenheimer Dividend Opportunities Fund Laton Spahr is no longer listed as a portfolio manager for the fund. The new management team is Robert Botard, Kristina Bradshaw, Christopher McMeans, and Meggan Walsh. 7/19
OAEIX Invesco Oppenheimer Equity Income Fund Laton Spahr is no longer listed as a portfolio manager for the fund. The new management team is Robert Botard, Kristina Bradshaw, Christopher McMeans, and Meggan Walsh. 7/19
QMGIX Invesco Oppenheimer Global Multi-Asset Growth Fund Alessio de Longis and Benjamin Rockmuller are no longer listed as portfolio managers for the fund. Mark Ahnrud, John Burrello, Chris Devine, Scott Hixon, Christian Ulrich, and Scott Wolle will now manage the fund. 7/19
QMAIX Invesco Oppenheimer Global Multi-Asset Income Fund Alessio de Longis and Benjamin Rockmuller are no longer listed as portfolio managers for the fund. Mark Ahnrud, John Burrello, Chris Devine, Scott Hixon, Christian Ulrich, and Scott Wolle will now manage the fund. 7/19
QVSCX Invesco Oppenheimer Mid Cap Value Fund Eric Hewitt and Laton Spahr are no longer listed as portfolio managers for the fund. Jeffrey Vancavage has taken over managing the fund. 7/19
OVSIX Invesco Oppenheimer Small Cap Value Fund Eric Hewitt is no longer listed as a portfolio manager for the fund. Jonathan Edwards and Jonathan Mueller will now manage the fund. 7/19
CGRWX Invesco Oppenheimer Value Fund Laton Spahr is no longer listed as a portfolio manager for the fund. Devin Armstrong, Charles DyReyes, Kevin Holt, and James Warwick will now manage the fund. 7/19
USGLX John Hancock U.S. Global Leaders Growth Fund Effective January 1, 2020, George Fraise will no longer serve as a portfolio manager for the fund. Kishore Rao will be added as a portfolio manager for the fund and, together with Gordon Marchand and Robert Rohn will manage the fund. 7/19
LSIOX Loomis Sayles High Income Opportunities Fund  No one, but … Brian Kennedy and Todd Vandam have joined Elaine Stokes, Daniel Fuss, and Matthew Eagan on the management team. 7/19
MMVYX MassMutual Select Small Company Value Fund The current management team is out, out, out. Jeff John, Miles Lewis, James MacGregor, and Shri Singhvi will now manage the fund. 7/19
NGQAX Neuberger Berman Global Equity Fund, which will become Neuberger Berman Integrated Large Cap Fund on September 3, 2019. Benjamin Segal and Elias Cohen will leave with the rebranding. Simon Griffiths and Jacob Gamerman will manage the rebranded fund. 7/19
NGREX Northern Global Real Estate Index Fund Thomas O’Brien will no longer serve as a portfolio manager for the fund. Volter Bagriy and Brent Reeder are managing the fund. 7/19
NSRIX Northern Global Sustainability Index Fund Thomas O’Brien will no longer serve as a portfolio manager for the fund. Volter Bagriy and Brent Reeder are managing the fund. 7/19
NSMAX Nuveen NWQ Small/Mid-Cap Value Fund Phyllis Thomas is no longer a portfolio manager of the fund. Thomas Lavia joins Andrew Hwang in managing the fund. 7/19
NSCAX Nuveen NWQ Small-Cap Value Fund Phyllis Thomas is no longer a portfolio manager of the fund. Thomas Lavia joins Andrew Hwang in managing the fund. 7/19
NSBRX Nuveen Santa Barbara Dividend Growth Fund James Boothe will no longer serve as a portfolio manager for the fund. David Calupnik and David Park are managing the fund. 7/19
NUGIX Nuveen Santa Barbara Global Dividend Growth Fund James Boothe will no longer serve as a portfolio manager for the fund. David Calupnik and David Park are managing the fund. 7/19
NUIIX Nuveen Santa Barbara International Dividend Growth Fund James Boothe will no longer serve as a portfolio manager for the fund. David Calupnik and David Park are managing the fund. 7/19
OWSOX, now OWMAX Old Westbury Strategic Opportunities Fund, which has now become Old Westbury Multi-Asset Opportunities Fund Edward Aw and Gregory Lester are no longer listed as portfolio managers for the fund. Jared Olivenstein joins the other nine team members in managing the fund. 7/19
LDUR PIMCO Enhanced Low Duration Active Exchange-Traded Fund No one, but … Sonali Pier joins David Braun and Jerome Schneider in managing the fund. 7/19
PHDAX PIMCO High Yield Fund  Hozef Arif is no longer listed as a portfolio manager for the fund. Sonali Pier joins Andrew Jessop in managing the fund. 7/19
PHSAX PIMCO High Yield Spectrum Fund  Hozef Arif is no longer listed as a portfolio manager for the fund. Sonali Pier joins Andrew Jessop in managing the fund. 7/19
PMFIX PMC Core Fixed Income Fund Andrew Johnson and Thomas Marthaler are no longer listed as portfolio managers for the fund. David Brown, Thanos Bardas, Thomas Sontag, and Nathan Kush join Neil Sutherland, Lisa Hornby, and Brandon Thomas on the management team. 7/19
SBBAX QS Conservative Growth Fund Ellen Tesler and Adam Petryk are no longer listed as portfolio managers for the fund. Lisa Wang joins Thomas Picciochi in managing the fund. 7/19
SBCPX QS Defensive Growth Fund Ellen Tesler and Adam Petryk are no longer listed as portfolio managers for the fund. Lisa Wang joins Thomas Picciochi in managing the fund. 7/19
SCHAX QS Growth Fund Ellen Tesler and Adam Petryk are no longer listed as portfolio managers for the fund. Lisa Wang joins Thomas Picciochi in managing the fund. 7/19
SCGRX QS Moderate Growth Fund Ellen Tesler and Adam Petryk are no longer listed as portfolio managers for the fund. Lisa Wang joins Thomas Picciochi in managing the fund. 7/19
LRRAX QS Strategic Real Return No one, but … Christopher Floyd joins Frederick Marki, Adam Petryk, Ellen Tesler, Thomas Picciochi, Joseph Giroux, S. Kenneth Leech, and Stephen Lanzendorf on the management team. 7/19
RMBTX RMB International Fund Egor Rybakov and Robert Gwin are no longer listed as portfolio managers for the fund. Masakazu Hosomizu is managing the fund. 7/19
RMBSX RMB International Small Cap Fund Egor Rybakov and Robert Gwin are no longer listed as portfolio managers for the fund. Masakazu Hosomizu is managing the fund. 7/19
SIMVX SIM Global Core Managed Volatility Fund David D’Eredita will no longer serve as a portfolio manager for the fund. Joshua Mellberg will continue to manage the fund. 7/19
SIMMX SIM Global Moderate Managed Volatility Fund David D’Eredita will no longer serve as a portfolio manager for the fund. Joshua Mellberg will continue to manage the fund. 7/19
SIMZX SIM Income Fund David D’Eredita will no longer serve as a portfolio manager for the fund. Joshua Mellberg will continue to manage the fund. 7/19
SIMUX SIM U.S. Core Managed Volatility Fund David D’Eredita will no longer serve as a portfolio manager for the fund. Joshua Mellberg will continue to manage the fund. 7/19
TRIGX T. Rowe Price International Value Equity Fund Sebastien Maller will no longer serve as a portfolio manager for the fund. Colin McQueen now manages the fund. 7/19
TEMFX Templeton Foreign Fund Tucker Scott is no longer listed as a portfolio manager for the fund. Warren Pustam joins Peter Moeschter, Christopher Peel, Herbert Arnett, Heather Arnold, and Norman Boersma on the management team. 7/19
TEPLX Templeton Growth Fund No one, but … Warren Pustam joins Peter Moeschter, Christopher Peel, Herbert Arnett, Heather Arnold, and Norman Boersma on the management team. 7/19
VEVFX Vanguard Explorer Value Fund Thomas Duncan will no longer serve as a portfolio manager for the fund. Rushan Jiang joins Robert Fields, Rachel Matthews, William Teichner, Robert Kirkpatrick, and Eugene Fox on the management team. 7/19
VGYAX Vanguard Global Wellesley Income Fund John C. Keogh has retired from Wellington Management Company LLP and no longer serves as a portfolio manager for the fund. Loren Moran, Michael Stack, and Michael Reckmeyer will continue to manage the fund. 7/19
VGWAX Vanguard Global Wellington John C. Keogh has retired from Wellington Management Company LLP and no longer serves as a portfolio manager for the fund. Edward Bousa, Loren Moran, Daniel Pozen, and Michael Stack will continue to manage the fund. 7/19
VMGRX Vanguard Mid-Cap Growth Fund No one, but … Ravi Dabas joins Christopher Scarpa, Timothy Manning, Paul Leung, Stephen Knightly, D. Scott Tracy, Christopher Clark, Melissa Chadwick-Dunn, and Stephen Bishop on the management team. 7/19
VWINX Vanguard Wellesley Income Fund John C. Keogh has retired from Wellington Management Company LLP and no longer serves as a portfolio manager for the fund. Loren Moran, Michael Stack, and Michael Reckmeyer will continue to manage the fund. 7/19
VWELX Vanguard Wellington Fund John C. Keogh has retired from Wellington Management Company LLP and no longer serves as a portfolio manager for the fund. Edward Bousa, Loren Moran, Daniel Pozen, and Michael Stack will continue to manage the fund. 7/19
OMOAX Vivaldi Multi-Strategy Fund Brad Friedlander will no longer serve as a portfolio manager to the fund. A dozen other managers from Vivaldi, RiverNorth and Angel Oak remain on duty. 7/19
IAVGX Voya Growth and Income Portfolio Kristy Finnegan no longer serves as a portfolio manager for the fund. Vincent Costa and James Dorment continue to manage the fund. 7/19
IEOPX Voya Large Cap Growth Portfolio No one, but … Kristy Finnegan is added, joining Jeffrey Bianchi and Michael Pytosh in managing the fund. 7/19
IPEAX Voya Large Cap Value Portfolio  Kristy Finnegan no longer serves as a portfolio manager for the fund. Vincent Costa and James Dorment continue to manage the fund. 7/19
IAMOX Voya MidCap Opportunities Portfolio No one, but … Kristy Finnegan is added, joining Jeffrey Bianchi and Michael Pytosh in managing the fund. 7/19
YWBIX Yorktown Mid-Cap Fund J. Dale Harvey and Stephen Burlingame are no longer listed as portfolio managers for the fund. David Basten now manages the fund. 7/19

 

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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.