February 2020 IssueLong scroll reading

Manager Changes, January 2020

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.

Chip tracked down 74 funds with manager changes this month. Most of the changes are low-key, though it is interesting that Oakmark (OAKMX) has added another co-manager.

Ticker Fund Out with the old In with the new Dt
TNYAX 1290 Global Talents Fund Mark Beveridge will no longer serve as a portfolio manager for the fund. Alwi Chan, Kenneth Kozlowski, and Anne Tolmunen will continue to manage the fund. 1/20
WLDR Affinity World Leaders Equity ETF Effective immediately, Pushkar Murthy no longer serves as a portfolio manager. Gregory Lai, continues to serve as a portfolio manager of the fund. 1/20
PALAX AllianzGI Global Allocation Fund Giorgio Carlino is no longer listed as a portfolio manager for the fund. Carl Pappo joins Paul Pietranico, Rahul Malhotra, Heather Bergman, and Huy Thanh Vo on the management team. 1/20
MRLTX AMG Renaissance Large Cap Growth Fund No one, but . . . Andy Eng joins Michael Schroer in managing the fund. 1/20
MEMKX BNY Mellon Emerging Markets Fund Sean Fitzgibbon, Jay Malikowski, and George DeFina are no longer listed as portfolio managers for the fund. Julianne McHugh and Chris Yao will now manage the fund. 1/20
CAMIX Cambiar International Equity Fund Jennifer Dunne will no longer serve as a portfolio manager for the fund. Brain Barish, Anna Aldrich, Andrew Baumbusch, Alvaro Shiraishi, and Todd Edwards will continue to manage the fund. 1/20
CAMFX Cambiar International Small Cap Fund Jennifer Dunne will no longer serve as a portfolio manager for the fund. Brain Barish, Alvaro Shiraishi, and Todd Edwards will continue to manage the fund. 1/20
HFXAX Catalyst Hedged Futures Strategy Fund Edward Walczak will no longer serve as a portfolio manager for the fund. Scott Kimple and Mark Adams will now manage the fund. 1/20
HFXIX Catalyst/Warrington Strategic Program Edward Walczak will no longer serve as a portfolio manager for the fund. Scott Kimple and Mark Adams will now manage the fund. 1/20
CCSZX Columbia Commodity Strategy Fund David Donora and Nicolas Robin will no longer serve as portfolio managers for the fund. Matthew Ferrelli and Marc Khalamayzer now manage the fund. 1/20
DBALX Davenport Balanced Income Fund On December 31, 2019, David M. West retired and is no longer listed as a portfolio manager for the fund. Joel Ray, Kevin Hopkins, Jr., and Christopher Pearson have joined Michael Beall, John Ackerly, E. Trigg Brown, Robert Giles, Charles Gomer, Christopher Kelly, and George Smith on the management team. 1/20
DAVPX Davenport Core Fund On December 31, 2019, David M. West retired and is no longer listed as a portfolio manager for the fund. Joel Ray and Christopher Pearson have joined Michael Beall, John Ackerly, E. Trigg Brown, Robert Giles, and George Smith on the management team. 1/20
DVIPX Davenport Value & Income Fund On December 31, 2019, David M. West retired and is no longer listed as a portfolio manager for the fund. Joel Ray and Christopher Pearson have joined Michael Beall, John Ackerly, E. Trigg Brown, Robert Giles, and George Smith on the management team. 1/20
DMCRX Driehaus Micro Cap Growth Fund No one, but . . . Prakash Vijayan joins Jeffrey James and Michael Buck on the management team. 1/20
DVSMX Driehaus Small Cap Growth Fund No one, but . . . Prakash Vijayan joins Jeffrey James and Michael Buck on the management team. 1/20
DNREX Dunham Real Estate Stock Fund David Wharmby will no longer serve as a portfolio manager for the fund. Burland East and Creede Murphy now manage the fund. 1/20
ETHIX Eaton Vance High Income Opportunities Fund Michael Weilheimer is no longer listed as a portfolio manager for the fund. Jeffrey Mueller, Kelley Baccei, and Stephen Concannon will continue to manage the fund. 1/20
AEPGX EuroPacific Growth Fund No one, but . . . Noriko Chen and Gerald Du Manoir join the other nine managers on the team. 1/20
FAGNX Fidelity Advisor Energy Fund John Dowd will no longer serve as a portfolio manager for the fund. Maurice FitzMaurice now manages the fund. 1/20
FDFAX Fidelity Select Consumer Staples Fund No one, but . . . Ben Shuleva joins Nicola Stafford in managing the fund. 1/20
FSENX Fidelity Select Energy Fund John Dowd will no longer serve as a portfolio manager for the fund. Maurice FitzMaurice now manages the fund. 1/20
FBSAX Franklin Mutual U.S. Value Fund No one, but . . . Srini Vijay joins Grace Hoefig in managing the fund. 1/20
FRVLX Franklin Small Cap Value Fund No one, but . . . Nicholas Karzon joins Steven Raineri and Christopher Meeker in managing the fund. 1/20
GFRAX Goldman Sachs High Yield Floating Rate Fund Effective immediately, Ken Yang will no longer serve as a portfolio manager for the fund. Rachel Golder and Peter Campo will continue to serve as portfolio managers for the fund. 1/20
HMIAX Hancock Horizon Microcap Fund Anthony Slovick no longer serves as a portfolio manager for the fund. Steven Solomon will continue to manage the fund. 1/20
HJIGX Hardman Johnston International Growth Fund Michael Mufson, Ezra Samet, and Donald Smith are no longer listed as portfolio managers for the fund. Cassandra Hardman, James Pontone, and Henry Woo will now manage the fund. 1/20
HRSVX Heartland Select Value Fund No one, but . . . Troy McGlone, Vice President of Heartland Advisors, has joined the team of Will Nasgovitz and Colin McWey in managing the fund. 1/20
HISIX Homestead International Equity Alexander Walsh has retired and Scott Crawshaw is no longer listed as a portfolio manager for the fund. Ferrill Roll, Andrew West, Brian Lloyd, and Patrick Todd will continue to manage the fund. 1/20
IMAAX Ivy Apollo Multi-Asset Income Fund George Noon and Philip Sanders are no longer listed as portfolio managers for the fund. Dan Hanson, Ben Lentz, and Paul Meierdierck join the other eight managers on the team. 1/20
IVJAX Ivy International Small Cap Fund Seamus Kelly is no longer listed as a portfolio manager for the fund. Kalle Huhdanmäki joins Bryan Mattei and Martin Fahey in managing the fund. 1/20
IREAX Ivy LaSalle Global Real Estate Fund George Noon is no longer listed as a portfolio manager for the fund. Ben Lentz and Paul Meierdierck join Matthew Sgrizzi and Lisa Kaufman on the management team. 1/20
IRBAX Ivy Pictet Targeted Return Bond Fund Thomas Hanson is no longer listed as a portfolio manager for the fund. Andres Sanchez Balcazar, David Bopp and Ella Hoxha will continue to manage the fund. 1/20
JAVAX James Aggressive Allocation Fund Matthew Watson will no longer serve as a portfolio manager for the fund. R. Brian Culpepper, David James, Barry James, Ann Shaw, Brian Shepardson, and Trent Dysert will continue to manage the fund. 1/20
GLRBX James Balanced: Golden Rainbow Fund Matthew Watson will no longer serve as a portfolio manager for the fund. R. Brian Culpepper, David James, Barry James, Ann Shaw, Brian Shepardson, and Trent Dysert will continue to manage the fund. 1/20
JMCRX James Micro Cap Fund Matthew Watson will no longer serve as a portfolio manager for the fund. R. Brian Culpepper, David James, Barry James, Ann Shaw, Brian Shepardson, and Trent Dysert will continue to manage the fund. 1/20
JASCX James Small Cap Fund Matthew Watson will no longer serve as a portfolio manager for the fund. R. Brian Culpepper, David James, Barry James, Ann Shaw, Brian Shepardson, and Trent Dysert will continue to manage the fund. 1/20
LDMAX Lord Abbett Emerging Markets Bond Fund No one, but . . . Mila Skulkina joins John Morton and Steven Rocco in managing the fund. 1/20
LCDIX Lord Abbett Emerging Markets Corporate Debt Fund No one, but . . . Mila Skulkina joins John Morton and Steven Rocco in managing the fund. 1/20
LGCAX Lord Abbett Global Equity Research Fund David Linsen and Sue Kim are no longer listed as portfolio managers for the fund. Ryan Howard and Servesh Tiwari will now manage the fund. 1/20
MNCDX Mercer Non-US Core Tuomo Vuolteenaho is no longer listed as a portfolio manager for the fund. Over a dozen managers remain with the fund. 1/20
MALAX Mirae Asset Discovery Asia Fund Effective January 9, 2020, Vineet Thodge will no longer serve as a portfolio manager for the fund. Wei Wei Chua joins Rahul Chadha in managing the fund. 1/20
MALGX Mirae Asset Discovery Emerging Markets Fund Effective January 9, 2020, Vineet Thodge will no longer serve as a portfolio manager for the fund. Wei Wei Chua joins Rahul Chadha and William Malcolm Dorson in managing the fund. 1/20
Various Natixis Sustainable Future 2015 Fund, Natixis Sustainable Future 2040 Fund, Natixis Sustainable Future 2020 Fund, Natixis Sustainable Future 2045 Fund, Natixis Sustainable Future 2025 Fund, Natixis Sustainable Future 2050 Fund, Natixis Sustainable Future 2030 Fund, Natixis Sustainable Future 2055 Fund, Natixis Sustainable Future 2035 Fund, and Natixis Sustainable Future 2060 Fund No one, but . . . Michael Nicolas has joined the other two dozen or so managers on the team. 1/20
NEFSX Natixis U.S. Equity Opportunities Fund No one, but . . . Michael Nicolas has joined Aziz Hamzaogullari, Kevin Grant, M. Colin Hudson, William Nygren, and Michael Mangan on the management team. 1/20
NSOPX North Star Opportunity Fund Effective as of January 15, 2020, Jim Tassoni is no longer a portfolio manager of the North Star Opportunity Fund. Bradley Cohen, Sheldon Goodman, Peter Gottlieb, and Eric Kuby will continue to manage the fund. 1/20
NEKAX Nuveen Emerging Markets Equity Fund David Lund and Reed Walters are no longer listed as portfolio managers for the fund. Barton Grenning and Willis Tsai are now managing the fund. 1/20
OAKMX Oakmark Fund No one, but . . . Michael Nicolas has joined the Kevin Grant and William Nygren in managing the fund. 1/20
PJIAX PGIM Jennison Focused Value Fund Mark DeFranco and Brian Gillott are no longer listed as portfolio managers for the fund. Josheph Esposito and Warren Koontz are now managing the fund. 1/20
PWDAX Power Dividend Index Fund Effective December 31, 2019, Robert Shea no longer serves as a portfoliomanager of the fund. Effective December 9, 2019, Nicholas Lobley has been added as a portfolio manager of the Funds. The rest of the team, John Forlines, Jeffrey Thompson, and Richard Molari have not changed. 1/20
DMCAX Power Dividend Mid-Cap Index Fund Effective December 31, 2019, Robert Shea no longer serves as a portfoliomanager of the fund. Effective December 9, 2019, Nicholas Lobley has been added as a portfolio manager of the Funds. The rest of the team, John Forlines, Jeffrey Thompson, and Richard Molari have not changed. 1/20
FLOAX Power Floating Rate Index Fund Effective December 31, 2019, Robert Shea no longer serves as a portfoliomanager of the fund. Effective December 9, 2019, Nicholas Lobley has been added as a portfolio manager of the Funds. The rest of the team, John Forlines, Jeffrey Thompson, and Richard Molari have not changed. 1/20
GTAAX Power Global Tactical Allocation/JAForlines Fund Effective December 31, 2019, Robert Shea no longer serves as a portfoliomanager of the fund. Effective December 9, 2019, Nicholas Lobley has been added as a portfolio manager of the Funds. The rest of the team, John Forlines, Jeffrey Thompson, and Richard Molari have not changed. 1/20
PWRAX Power Income Fund Effective December 31, 2019, Robert Shea no longer serves as a portfoliomanager of the fund. Effective December 9, 2019, Nicholas Lobley has been added as a portfolio manager of the Funds. The rest of the team, John Forlines, Jeffrey Thompson, and Richard Molari have not changed. 1/20
MOJAX Power Momentum Index Fund Effective December 31, 2019, Robert Shea no longer serves as a portfoliomanager of the fund. Effective December 9, 2019, Nicholas Lobley has been added as a portfolio manager of the Funds. The rest of the team, John Forlines, Jeffrey Thompson, and Richard Molari have not changed. 1/20
PRIAX Principal International Emerging Markets Fund Mihail Dobrinov is no longer listed as a portfolio manager for the fund. Paul Blankenhagen and Jeffrey Kilkenny have joined Alan Wang in managing the fund. 1/20
PINOX Putnam International Growth Fund Jeffrey Sacknowitz will no longer serve as a portfolio manager for the fund. R. Shepherd Perkins now manages the fund. 1/20
HDCAX Rational Equity Armor Fund Timothy McIntosh will no longer serve as a portfolio manager for the fund. Brian Stutland, Luke Rahbari, and Joseph Tigay are now managing the fund. 1/20
SCGVX Sands Capital Global Growth Fund Sunil Thakor will no longer serve as a portfolio manager for the fund. Brain Christiansen joins David Levanson and T. Perry Williams in managing the fund. 1/20
WTMVX Segall Bryant & Hamill Global Large Cap Fund Lisa Ramirez will step down from the management team, effective May 1, 2020. The rest of the team will continue to manage the fund. 1/20
WTMCX Segall Bryant & Hamill Mid Cap Value Dividend Fund Lisa Ramirez will step down from the management team, effective May 1, 2020. The rest of the team will continue to manage the fund. 1/20
WISVX Segall Bryant & Hamill Small Cap Value Dividend Fund Lisa Ramirez will step down from the management team, effective May 1, 2020. The rest of the team will continue to manage the fund. 1/20
WEQRX Segall Bryant & Hamill Workplace Equality Fund Lisa Ramirez will step down from the management team, effective May 1, 2020. The rest of the team will continue to manage the fund. 1/20
SOAEX Spirit of America Energy Fund William Mason is no longer listed as a portfolio manager for the fund. Douglas Revello now manages the fund. 1/20
SOAOX Spirit of America Income & Oppurtunities William Mason is no longer listed as a portfolio manager for the fund. Mark Reilly will now manage the fund. 1/20
TZINX Templeton Global Balanced Fund No one, but . . . Herbert Arnett joins Warren Pustam and Michael Hasenstab in managing the fund. 1/20
TIEWX TIAA-CREF International Equity Fund Chris Semenuk is no longer a portfolio manager of the fund. John Tribolet and Gregory Mancini will now manage the fund. 1/20
TCLCX TIAA-CREF Large-Cap Value Fund Richard Cutler is no longer a portfolio manager of the fund. Charles Carr will continue to serve as portfolio manager 1/20
TCMHX TIAA-CREF Mid-Cap Growth Fund George (Ted) Scalise is no longer a portfolio manager of the fund. Terrence Kontos joins Adrian Almazan on the management team. 1/20
TCMVX TIAA-CREF Mid-Cap Value Fund Richard Cutler is no longer a portfolio manager of the fund. David Chalupnik and Evan Staples will now manage the fund. 1/20
VGENX Vanguard Energy Fund Gregory LeBlanc is no longer listed as a portfolio manager for the fund. G. Thomas Levering joins James Stetler and Binbin Guo in managing the fund. 1/20
VMGRX Vanguard Mid-Cap Growth Fund Stephen Knightly has retired and will no longer serve as a portfolio manager for the fund. Ravi Dabas, Christopher Scarpa, Timothy Manning, Paul Leung, D. Scott Tracy, Christopher Clark, Melissa Chadwick-Dunn, and Stephen Bishop on the management team. 1/20
SCSAX Wells Fargo Common Stock Fund Ann Miletti will no longer serve as a portfolio manager for the fund. Garth Newport joins Christopher Miller in managing the fund. 1/20
WFSMX Wells Fargo Intrinsic Small Cap Value Fund Ann Miletti will no longer serve as a portfolio manager for the fund. Theran Motl joins Christopher Miller in managing the fund. 1/20
SOPVX Wells Fargo Opportunity Fund Ann Miletti will no longer serve as a portfolio manager for the fund. Kurt Gunderson joins Christopher Miller in managing the fund. 1/20

 

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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.