Herewith are notes about the month’s announced changes in the fund industry: closings, openings, name changes, liquidations and more.
Thanks, as ever, to the anonymous and indefatigable Shadow for his yeoman’s work in keeping me, and the members of MFO’s discussion board, current on a swarm of comings and goings.
On October 3, 2016, Henderson Group PLC merged with Janus Capital Group, nominally “a merger of equals.” The Henderson funds will be reorganized into Continue reading →
Herewith are notes about the month’s announced changes in the fund industry: closings, openings, name changes, liquidations and more.
Thanks, as ever, to the anonymous and indefatigable Shadow for his yeoman’s work in keeping me, and the members of MFO’s discussion board, current on a swarm of comings and goings.
Effective mid-January, 2017, the AB Wealth Appreciation Strategy (AWAAX) and AB Balanced Wealth Strategy (ABWAX) will no longer invest in other AllianceBernstein funds. Instead, they’ll invest directly in equities. Color me “confused.” The funds currently seem to hold shares of just one AB fund (Multi-manager Alternative Strategies) along with a ton of individual equities. Continue reading →
New questions to ask your potential fund manager: “so, how did your high school lacrosse team do? And how was the cuisine in the cafeteria?” If the answers were anything close to “great” and “scrumptious,” run away! Run away! As it turns out, new research shows that managers who come from relatively modest, perhaps even challenged, backgrounds tend to surpass their J. Crew wearing peers. So if you can find a kid whose forebears were, say, poor Tennessee farmers, he probably deserves your money. (Especially if his fund is closing to new investors, say, at the end of September.) Thanks to Ira Artman, longtime reader and friend of the Observer, for the heads-up!
After 35 years with Legg Mason, Bill Miller bought himself and his funds free of them. Continue reading →
