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M* Fund Times 1/17/2013

InvestorInvestor
edited January 2013 in Fund Discussions
http://news.morningstar.com/articlenet/article.aspx?id=581389

* Investing in Future, Oakmark Select Adds 2 Comanagers (OAKLX)
* Legg Mason to Combine Operations of LMCM and ClearBridge
* DWS Drops Dreman Name (KDSAX), Global Thematic Account (SGQAX)
* Longtime Thornburg Manager Retires (TSIAX)
* Vanguard Drops Hansberger (VTRIX)
* Artisan Reshuffles Management Teams (ARTHX) and Launches a New Fund
* Fidelity Closes Small-Cap Fund (FSCRX)
* Janus Launches New Fund (JNGOX)
* Litman Gregory Adds Subdvisors (MSILX)

Comments

  • andrei
    Worrisome news concerning ARTHX. This is the fund mentioned in the latest commentaries http://www.mutualfundobserver.com/2012/12/artisan-global-equity-fund-arthx-december-2012/.

    The language used at the Artisan website is quite interesting: "Barry Dargan, lead portfolio manager of Artisan Global Equity Fund, is leaving Artisan Partners effective immediately." http://www.artisanpdfcentral.com/data/newspage/2013.01.11_PMChange.PR.vR.pdf

  • InvestorInvestor
    edited January 2013
    Reply to @andrei: I am disappointed about it as well. I have significant portion of my foreign exposure in this fund.

    I do not know the new assistant portfolio managers but lead Mark Yockey is a veteran of Artisan and has done particularly well when ARTIX was small. So, the question is that is Yockey here as a trophy manager (ie in the name only) or really running the fund day to day and how much the stock selection style will change as this fund excelled in consumer defensive etc stocks but delivered very competitive results at somewhat lower volatility.

    The fund is still small and Artisan is a good shop. So there is still chance that it may do well despite the manager change.

    I guess I will stick around and watch it. I also invest in ARTRX so I might move over that team if this fund stagnates.
  • andrei
    Dargan was the decider, according to http://www.mutualfundobserver.com/2012/12/artisan-global-equity-fund-arthx-december-2012/
  • AndyJ
    edited January 2013
    I think this makes four Artisan funds where Yockey is listed as manager ... Int'l, Global Equity, Int'l Sm Cap, and the new Global Sm Cap. Hmm ...
  • David_Snowball
    I'm working on it.

    More soon,

    David
  • MourningStars
    edited January 2013
    Thanks David for all you do and glad you will you be researching this development. One would think the three managers will be stretched initially as they direct the investments of 4 funds. Three questions immediately come to mind. The Yockey led team has more of an international background so will someone with USA equity experience be joining to help manage the global mandate ? Was Mr. Dargan scheduled to manage or co-manage the soon to be launched small cap global fund ? Over what period of time will/can Mr. Dargan withdraw his million plus from ARTHX ? One would think that if he left over a major difference that his money will leave in a hurry as well. I'm still invested in ARTHX.
  • David_Snowball
    Reply to @MourningStars: I've been playing phone tag with my contacts at Artisan. It looks like we'll be able to connect late Tuesday afternoon or Wednesday. I'll post a quick update here as soon as I know something.

    Take care,

    David
  • andrei
    I think that the specific questions formulated by MourningStars are most appropriate, it would be great to know the answers.
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