Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds. Continue reading
Manager changes, June 2016
By Chip
Category Archives: Manager changes
Manager changes, May 2016
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| ARDWX | Aberdeen Multi-Manager Alternative Strategies Fund II | Santa Fe Partners LLC no longer serves as a sub-adviser to the fund, and Henry Davis is no longer listed as a portfolio manager for the fund. | Ian McDonald, Averell Mortimer, Darren Wolf, Russell Barlow, Vicky Hudson, Peter Wasko and Kevin Lyons remain on the management team | 5/16 |
| ASTYX | AllianzGI Best Styles International Equity | No one, but … | Erik Mulder joined Michael Heldmann and Karsten Niemann in managing the fund. | 5/16 |
| AZDAX | AllianzGI Global Fundamental Strategy Fund | Andreas Utermann is no longer listed as a portfolio manager for the fund. | Neil Dwane joins the management team of Armin Kayser, Karl Happe, Eric Boess, and Steven Berexa. | 5/16 |
| BGEIX | American Century Global Gold Fund | William Martin and Lynette Pang are no longer listed as portfolio managers for the fund. | Yulin Long and Elizabeth Xie are now managing the fund. | 5/16 |
| BDMAX | BlackRock Global Long/Short Equity Fund | Paul Ebner is no longer listed as a portfolio manager for the fund. | Richard Mathieson joins Raffaele Savi and Kevin Franklin in managing the fund. | 5/16 |
| BMSAX | BlackRock Secured Credit Portfolio | Carly Wilson and C. Adrian Marshall are gone. | Mitchell Garfin remains and is joined by James Keenan, Jeff Cucunato, Jose Aguilar and Artur Piasecki. | 5/16 |
| BIALX | Brown Advisory Global Leaders Fund | No one, but … | Bertie Thomson joins Michael Dillon in managing the fund. | 5/16 |
| CSIBX | Calvert Bond Portfolio | Matthew Duch will no longer serve as a portfolio manager for the fund. | Vishal Khanduja and Brian Ellis will remain on the portfolio management team. | 5/16 |
| CGAFX | Calvert Green Bond Fund | Matthew Duch will no longer serve as a portfolio manager for the fund. | Vishal Khanduja and Brian Ellis will remain on the portfolio management team. | 5/16 |
| CYBAX | Calvert High Yield Bond Fund | Matthew Duch will no longer serve as a portfolio manager for the fund. | Vishal Khanduja and Brian Ellis will remain on the portfolio management team and will be joined by Patrick Faul. | 5/16 |
| CFICX | Calvert Income Fund | Matthew Duch will no longer serve as a portfolio manager for the fund. | Vishal Khanduja and Brian Ellis will remain on the portfolio management team. | 5/16 |
| CLDAX | Calvert Long-Term Income Fund | Matthew Duch will no longer serve as a portfolio manager for the fund. | Vishal Khanduja and Brian Ellis will remain on the portfolio management team. | 5/16 |
| CSDAX | Calvert Short Duration Income Fund | Matthew Duch will no longer serve as a portfolio manager for the fund. | Vishal Khanduja and Brian Ellis will remain on the portfolio management team. | 5/16 |
| CULAX | Calvert Ultra-Short Income Fund | Matthew Duch will no longer serve as a portfolio manager for the fund. | Vishal Khanduja and Brian Ellis will remain on the portfolio management team. | 5/16 |
| SDUAX | Deutsche Ultra Short Duration Bond Fund, soon to be the Deutsche Fixed Income Opportunities Fund | As of August 31, Eric Meyer will no longer serve as a portfolio manager for the fund. | John Ryan is joined by Roger Douglas and Rahmila Nadi in managing the fund. | 5/16 |
| DGANX | Dreyfus Global Infrastructure Fund | Joshua Kohn is no longer listed as a portfolio manager for the fund. | Maneesh Chhabria is joined by Theodore Brooks on the management team. | 5/16 |
| ETMGX | Eaton Vance Tax-Managed Small-Cap Fund | Nancy Took, lead portfolio manager, announced her intention to retire at the end of October, 2016. | Michael McLean and J. Griffith Noble will continue with the fund. | 5/16 |
| GSBFX | Goldman Sachs Income Builder Fund | Effective immediately, Lale Topcuoglu no longer serves as a portfolio manager for the fund. | Daniel Lochner, Charles Dane, Colin Bell, Ronald Arons, Andrew Braun and David Beers will continue to manage the fund. | 5/16 |
| HBIAX | HSBC Global High Income Bond Fund | Lisa Chua is no longer listed as a portfolio manager for the fund. | Nishant Upadhyay joins Rick Liu and Jerry Samet in managing the fund. | 5/16 |
| HBYAX | HSBC Global High Yield Bond Fund | Lisa Chua is no longer listed as a portfolio manager for the fund. | Nishant Upadhyay joins Rick Liu and Mary Gottshall Bowers in managing the fund. | 5/16 |
| WASAX | Ivy Asset Strategy Fund | Mike Avery will no longer manage the fund, effective June 30, 2016. | F. Chace Brundige and Cynthia Prince-Fox will continue to co-manager the fund. | 5/16 |
| IVTAX | Ivy Managed International Opportunities Fund | Mike Avery will no longer manage the fund, effective June 30, 2016. | At that time, F. Chace Brundige and Cynthia Prince-Fox will become co-managers of the fund. | 5/16 |
| JMMAX | JPMorgan Multi-Manager Alternatives Fund | No one, but … | P/E Global LLC has been added as an eleventh subadvisor to the fund. | 5/16 |
| SCGLX | Scout Global Equity Fund | James Moffett and founding manager James Reed are no longer listed as portfolio managers for the fund. | Charles John is joined by John Indellicate and Derek Smashey. Somehow the combination of “indelicate” and “smashy” seems like fodder for a bunch of in-jokes. | 5/16 |
| UMBWX | Scout International Fund | Michael P. Fogarty no longer serves as a portfolio manager of the fund. | Michael Stack and Angel Luperico will continue to manage the fund. | 5/16 |
| SEQUX | Sequoia Fund | No one, but … | John Harris, Arman Gokgol-Kline, Trevor Magyar, and David Sheridan join David Poppe as co-managers. | 5/16 |
| TVOAX | Touchstone Small Cap Value Fund | DePrince Race & Zollo, Inc. will no longer subadvise the fund. Gregory Ramsby and Randy Renfrow will no longer serve as portfolio managers for the fund. | Russell Implementation Services will subadvise the fund, with Wayne Holister as portfolio manager, until June 30, 2016. After June 30, LMCG Investments will become the subadvisor to the fund. | 5/16 |
| USIFX | USAA International Fund | No one, but … | Filipe Benzinho is joining Susanne Willumsen, James Shakin, Craig Scholl, Paul Moghtader, Ciprian Marin, Taras Ivanenko, Andrew Corry, Daniel Ling and Marcus Smith to manage the fund. | 5/16 |
| HEMZX | Virtus Emerging Markets Opportunities Fund | No one, but … | Brian Bandsma and Jin Zhang join Matthew Benkendorf in managing the fund | 5/16 |
| JVIAX | Virtus Foreign Opportunities Fund | No one, but … | Daniel Kranson and David Souccar will join Matthew Benkendorf in managing the fund | 5/16 |
| NWWOX | Virtus Global Opportunities Fund | No one, but … | Ramiz Chelat will join Matthew Benkendorf in managing the fund | 5/16 |
| UNASX | Waddell & Reed Advisors Asset Strategy Fund | Mike Avery will no longer manage the fund, effective June 30, 2016. | F. Chace Brundige and Cynthia Prince-Fox will continue to co-manager the fund. | 5/16 |
Manager changes, April 2016
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| ARDWX | Aberdeen Multi-Manager Alternative Strategies Fund II | Henry Davis no longer serves as a portfolio manager of the fund | Kevin Lyons joins the team of Averell H. Mortimer, Ian McDonald, Darren Wolf, Russell Barlow, Vicky Hudson, and Peter Wasko | 4/16 |
| FXDAX | Altegris Fixed Income Long Short Fund | Premium Point Investments is no longer a subadvisor to the fund. As a result, Anilesh Ahuja and Amin Majidi are no longer listed as portfolio managers for the fund. | Kevin Schweitzer, Eric Bundonis, Peter Reed, David Steinberg, and Antolin Garza will continue to manage the fund. | 4/16 |
| AFXAX | American Beacon Flexible Bond | Adriana Posada has retired from her position as a portfolio manager | The rest of the team remains | 4/16 |
| ALMEX | ASTON/LMCG Emerging Markets Fund | Vikram Srimurthy is no longer a portfolio manager of the fund. | Gordon Johnson and Shannon Ericson will continue to manage the fund | 4/16 |
| BVEFX | Becker Value Equity Fund | No one, but … | Sid Parakh joins Thomas McConville, Andy Murray, Marian Kessler, Michael McGarr, Stephen Laveson, and Patrick Becker Jr. | 4/16 |
| BFRAX | BlackRock Floating Rate Income | Leland Hart will remain with BlackRock, but step down from fund management to “pursue other interests.” | James Keenan, C. Adrian Marshall and Joshua Tarnow will continue to manage the fund. | 4/16 |
| BMMAX | BlackRock Multi-Manager Alternative Strategies Fund | No one, but … | GLG Partners has been added as a seventh subadvisor to the fund. | 4/16 |
| BMSAX | BlackRock Secured Credit Portfolio | Leland Hart will remain with BlackRock, but step down from fund management to “pursue other interests.” | C. Adrian Marshall, Mitchell Garfin and Carly Wilson will continue to manage the fund. | 4/16 |
| CSIBX | Calvert Bond Portfolio | Mauricia Agudelo will no longer serve as a portfolio manager for the fund. | Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund | 4/16 |
| CFWAX | Calvert Global Water Fund | Catherine Ryan and Matthew Sheldon are no longer listed as portfolio managers for the fund whose star rating is mostly driven by the fact that it’s being compared to energy funds. | The new team is Lise Bernhard, Jade Huang, Christopher Madden, Matthew Moore and Laurie Webster. | 4/16 |
| CGAFX | Calvert Green Bond Fund | Mauricia Agudelo will no longer serve as a portfolio manager for the fund. | Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund | 4/16 |
| CYBAX | Calvert High Yield Bond Fund | Mauricia Agudelo will no longer serve as a portfolio manager for the fund. | Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund | 4/16 |
| CFICX | Calvert Income Fund | Mauricia Agudelo will no longer serve as a portfolio manager for the fund. | Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund | 4/16 |
| CLDAX | Calvert Long-Term Income Fund | Mauricia Agudelo will no longer serve as a portfolio manager for the fund. | Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund | 4/16 |
| CSDAX | Calvert Short Duration Income Fund | Mauricia Agudelo will no longer serve as a portfolio manager for the fund. | Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund | 4/16 |
| CULAX | Calvert Ultra-Short Income Fund | Mauricia Agudelo will no longer serve as a portfolio manager for the fund. | Vishal Khanduja, Matthew Duch and Brian Ellis remain on the portfolio management team for the fund | 4/16 |
| CAMOX | Cambiar Opportunity Fund | Maria Mendelsberg will no longer serve as a portfolio manager for the fund. | Brian Barish, Anna Aldrich, Timothy Beranek, Andrew Baumbusch, Jeffrey Susman and Colin Dunn will continue to manage the fudn | 4/16 |
| CAMSX | Cambiar Small Cap Fund | Maria Mendelsberg will no longer serve as a portfolio manager for the fund. | Brian Barish, Anna Aldrich, Timothy Beranek, Andrew Baumbusch, Jeffrey Susman and Colin Dunn will continue to manage the fudn | 4/16 |
| CAMMX | Cambiar Smid Fund | Maria Mendelsberg will no longer serve as a portfolio manager for the fund. | Brian Barish, Anna Aldrich, Timothy Beranek, Andrew Baumbusch, Jeffrey Susman and Colin Dunn will continue to manage the fudn | 4/16 |
| CMCIX | Capital Management Mid Cap Fund | Ralph Scarpa is no longer listed as a portfolio manager for the fund. | Alexander Cripps and W. Jameson McFadden will now manage the fund. | 4/16 |
| CMSSX | Capital Management Small Cap Fund | Ralph Scarpa is no longer listed as a portfolio manager for the fund. | Alexander Cripps and W. Jameson McFadden will now manage the fund. | 4/16 |
| CPMPX | Changing Parameters Fund | David Levenson is no longer listed as a portfolio manager for the fund. | Howard Smith will continue to manage the fund’s parameters. | 4/16 |
| SUIAX | Deutsche CROCI International Fund | No one, but … | John Moody joins Di Kumble in managing the fund. | 4/16 |
| SKNRX | Deutsche Enhanced Commodity Strategy Fund | No one, but … | Rick Smith joined the team of Eric Meyer, John Ryan, Darwei Kung and Sonali Kapoor | 4/16 |
| SGDAX | Deutsche Gold & Precious Metals Fund | Michael Bernadiner and Terence Brennan are no longer listed as portfolio managers for the fund. | Scott Ikuss, Felice Tecce and John Vojticek are now managing the fund. | 4/16 |
| MIDVX | Deutsche Mid Cap Value Fund | Richard Glass left the fund in March, and was replaced Matthew Cino, who lasted precisely 30 days on the job. | Richard Hanlon and Mary Schafer are now managing the fund. | 4/16 |
| KDSAX | Deutsche Small Cap Value Fund | Richard Glass left the fund in March, and was replaced Matthew Cino, who lasted precisely 30 days on the job. | Richard Hanlon and Mary Schafer are now managing the fund. | 4/16 |
| DMVAX | Dreyfus Select Managers Small Cap Value Fund | Iridian Asset Management has terminated its agreement with Dreyfus. Jordan Alexander and Stephen Friscia will no longer be on the management team. | The rest of the extensive team remains. | 4/16 |
| FSCGX | Fidelity Select Industrial Equipment Portfolio | Boris Shepov will no longer serve as a portfolio manager for the fund. | Janet Glazer and Tobias Welo will manage the fund. | 4/16 |
| FIINX | First Investors International Fund | Rajiv Jain is no longer a portfolio manager for the fund | Matthew Benkendorf, Vontobel’s CIO, will manage the fund | 4/16 |
| FMIMX | FMI Common Stock Fund | Karl T. Poehls is leaving at the end of May 2016 to pursue “other business activities and personal interests.” | Jordan Teschendorf joins the extensive team in managing the fund. | 4/16 |
| FMIJX | FMI International Fund | Karl Poehls is leaving at the end of May 2016 | Jordan Teschendorf joins the extensive team in managing the fund. | 4/16 |
| FMIHX | FMI Large Cap Fund | Karl T. Poehls is leaving at the end of May 2016 | Jordan Teschendorf joins the extensive team in managing the fund. | 4/16 |
| FBDIX | Franklin Biotechnology Discovery Fund | No one, but perhaps pursuant to the fund’s decision to reopen to new investors in May 2016 … | Christopher Lee joins Evan McCulloch and Steven Kornfeld in managing the fund. | 4/16 |
| HWDAX | Hartford World Bond | Robert Evans has announced his plan to retire at the end of the year. As part of his plan, he will step down from his portfolio manager role as of June 30, 2016. | Mark Sullivan will continue to manage the fund | 4/16 |
| HGAAX | Henderson All Asset Fund | Bill McQuaker is no longer listed as a portfolio manager for the fund. | Paul O’Connor and Chris Paine will continue to run the fund. | 4/16 |
| HFOAX | Henderson International Opportunities Fund | No one, but … | Paul O’Connor joins Stephen Peak, Nicholas Cowley, Glen Finegan, Andrew Gillian, Ronan Kelleher, Vincent Musumeci, Tim Stevenson, and Ian Warmerdam on the management team. | 4/16 |
| IPOAX | Ivy Emerging Markets Equity Fund | Effective May 14, 2016, Frederick Jiang will no longer serve as a co-manager of the fund. | Jonas Krumplys will continue to manage the fund. | 4/16 |
| JDDAX | Janus Diversified Alternatives Fund | Richard Lindsey is no longer listed as a portfolio manager for the fund. | John Fujiwara and Andrew Weisman will continue to run the fund. | 4/16 |
| JDVAX | JPMorgan Diversified Fund | Effective immediately, Nicole Goldberger is on maternity leave and will not be involved in the day to day management of the fund. | John Speer and Michael Schoenhaut will continue to manage the fund in her absence. She’s expected to return in mid-June. | 4/16 |
| JRNAX | JPMorgan Diversified Real Return Fund | Effective immediately, Nicole Goldberger is on maternity leave and will not be involved in the day to day management of the fund. | John Speer and Michael Schoenhaut will continue to manage the fund in her absence. She’s expected to return in mid-June. | 4/16 |
| OHYAX | JPMorgan High Yield Fund | In order to separate trading functions from portfolio management functions, James Gibson will no longer be included in the list of portfolio managers for the fund but will continue his focus as principal high yield trader for the high yield team. | William Morgan and James Shanahan will continue to manage the fund. | 4/16 |
| LIMAX | Lateef Fund | Matthew Sauer will no longer serve as a portfolio manager for the fund. | Quoc Tran, James Tarkenton, and David Geisler continue as co-portfolio managers of the fund | 4/16 |
| LCRAX | Lord Abbett Core Fixed Income | Jerald Lanzotti is no longer listed as a portfolio manager for the fund. | Leah Traub joins Kewjin Yuoh, Robert Lee, and Andrew O’Brien in managing the fund. | 4/16 |
| NOIEX | Northern Income Equity Fund | John Ferguson is no longer a portfolio manager of the fund | Jacob Weaver will continue to manage the fund | 4/16 |
| PIOTX | Pioneer Core Equity | James Moynihan is no longer listed as a portfolio manager for the fund. | John Peckham and Craig Sterling will continue to manage the fund. | 4/16 |
| RSINX | RS Investors Fund | Byron Penstock is no longer listed as a portfolio manager for the fund. | Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. | 4/16 |
| GPAFX | RS Large Cap Alpha Fund | Byron Penstock is no longer listed as a portfolio manager for the fund. | Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. | 4/16 |
| RSPFX | RS Partners Fund | Byron Penstock is no longer listed as a portfolio manager for the fund. | Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. | 4/16 |
| RSVAX | RS Value Fund | Byron Penstock is no longer listed as a portfolio manager for the fund. | Joseph Mainelli, Paul Hamilos, Robert Harris and Daniel Lang continue to manage the fund. | 4/16 |
| SIMFX | Sims Total Return Fund | Barry Arnold and Lilli Gust are no longer listed as portfolio managers for the fund. | David Sims and Luke Sims have taken over management of the fund. | 4/16 |
| GTFAX | SunAmerica Global Trends Fund | Richard Wurster will no longer serve as a portfolio manager for the fund. | Stephen Gorman is now managing the fund. | 4/16 |
| PRWAX | T. Rowe Price New America Growth Fund | Daniel Martino left the fund in April, 2016. | Justin White is now listed as manager for the fund. | 4/16 |
| TEMAX | Touchstone Emerging Markets Small Cap | Wayne Hollister is out. | Stephen Dexter and H. David Shea are in. | 4/16 |
| UVALX | USAA Value Fund | Timothy Culler retired from his portfolio manager position. | The fund will continue to be managed by the rest of the team: Mark Giambrone, John Harloe, James McClure, R. Lewis Ropp, Jeff Fahrenbruch, David Ganucheau, and Cory Martin. | 4/16 |
Manager changes, March 2016
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| ADVMX | Advisory Research Emerging Markets Opportunities Fund | Jonathan Brodsky no longer serves as portfolio manager of the funds. | Drew Edwards and Marco Priani will continue to manage the fund. | 3/16 |
| ADVWX | Advisory Research Global Value Fund | Jonathan Brodsky no longer serves as portfolio manager of the funds. | Drew Edwards, Marco Priani, Matthew Swaim, James Langer and Bruce Zessar will continue as portfolio managers | 3/16 |
| ADVEX | Advisory Research International All Cap Value Fund | Jonathan Brodsky no longer serves as portfolio manager of the funds. | Drew Edwards and Marco Priani will continue to manage the fund. | 3/16 |
| ADVIX | Advisory Research International Small Cap Value Fund | Jonathan Brodsky no longer serves as portfolio manager of the funds. | Drew Edwards and Marco Priani will continue to manage the fund. | 3/16 |
| PGWAX | AllianzGI Focused Growth Fund | David Jedlicka will no longer serve as a portfolio manager for the fund. | Scott Migliori, Karen Hiatt, and Raphael Edelman will manage the fund until Mssr. Migliori’s departure at the end of June. | 3/16 |
| ELSAX | Altegris Equity Long Short Fund | Robert Murphy and Richard Schimel have been removed as portfolio managers | Edgardo Goldaracena has been added as a portfolio manager, joining Eric Bundonis, Don Destino, Kelly Wiesbrock, Robert Kim, Richard Chilton, and Emmanuel Ferreira | 3/16 |
| FXDAX | Altegris Fixed Income Long Short Fund | Robert Murphy has been removed as a portfolio manager of the fund. | Antolin Garza has been added as portfolio manager, joining Eric Bundonis, Kevin Schweitzer, Amin Majidi, Anilesh “Neil” Ahuja, David Steinberg and Peter Reed | 3/16 |
| EVOAX | Altegris Futures Evolution Strategy Fund | Robert Murphy has been removed as a portfolio manager of the fund. | Lara Magnusen has been added as portfolio manager, joining Matthew Osborn, Eric Bundonis, and Jeffrey Gundlach | 3/16 |
| MCRAX | Altegris Macro Strategy Fund | Robert Murphy has been removed as a portfolio manager of the fund. | Eric Bundonis, Matthew Osborne, and John Tobin will continue to manage the fund. | 3/16 |
| MULAX | Altegris Multi-Strategy Alternative Fund | Robert Murphy is out | Edgardo Goldaracena and Antolin Garza have joined Lara Magnusen in running the fund | 3/16 |
| RAAAX | Altegris/AACA Real Estate Long Short Fund | Eric Bundonis has been removed as portfolio manager | Burland East is now the sole portfolio manager | 3/16 |
| Various | American Century Balanced Fund, Core Equity Plus Fund, Disciplined Growth Fund, Disciplined Growth Plus Fund, Equity Growth Fund, Global Gold Fund, NT Core Equity Plus Fund, NT Disciplined Growth Fund, NT Equity Growth Fund, Strategic Inflation Opportunities Fund, and Utilities Fund | William Martin, Senior Vice President and Senior Portfolio Manager, has announced his plans to retire from American Century Investments. As a result, he will no longer serve as a portfolio manager of the funds as of May 18, 2016. | The rest of the management teams remain. | 3/16 |
| BXIAX | Babson Global Credit Income Opportunities Fund | Zak Summerscale and Kam Tugnait are no longer listed as portfolio managers for the fund. | Martin Horne joins Michael Freno, Sean Feeley, and Scott Roth in managing the fund. | 3/16 |
| BXGAX | Babson Global High Yield Fund | Zak Summerscale is no longer listed as a portfolio manager for the fund. | Martin Horne joins Michael Freno, Sean Feeley, and Scott Roth in managing the fund. | 3/16 |
| BACPX | BlackRock 20/80 Target Allocation Fund | Russ Koesterich is no longer listed as a portfolio manager for the fund. | Michael Gates and Vishal Karir are the portfolio managers of the fund. | 3/16 |
| BAMPX | BlackRock 40/60 Target Allocation Fund | Russ Koesterich is no longer listed as a portfolio manager for the fund. | Michael Gates and Vishal Karir are the portfolio managers of the fund. | 3/16 |
| BAGPX | BlackRock 60/40 Target Allocation Fund | Russ Koesterich is no longer listed as a portfolio manager for the fund. | Michael Gates and Vishal Karir are the portfolio managers of the fund. | 3/16 |
| BAAPX | BlackRock 80/20 Target Allocation Fund | Russ Koesterich is no longer listed as a portfolio manager for the fund. | Michael Gates and Vishal Karir are the portfolio managers of the fund. | 3/16 |
| BQMIX | Bright Rock Mid Cap Growth Fund | Jason Lilly has resigned from Bright Rock Capital Management | Douglas Butler and David Smith continue to serve as portfolio managers of the fund | 3/16 |
| BQLIX | Bright Rock Quality Large Cap Fund | Jason Lilly has resigned from Bright Rock Capital Management | Douglas Butler and David Smith continue to serve as portfolio managers of the fund | 3/16 |
| BIAVX | Brown Advisory Value Equity Fund | Richard Bernstein is no longer managing the fund, but has not left the company. Colleagues have staked out the breakroom in hopes of recapturing him. | Doron Eisenberg and Michael Foss will stay with the fund. | 3/16 |
| CHYDX | Calamos High Income Fund | Christopher Langs is no longer listed as a portfolio manager for the fund. | Chuck Carmody joins John Calamos, Sr., John Hillenbrand, Eli Pars, Jon Vacko, and Jeremy Hughes. | 3/16 |
| CTRAX | Calamos Total Return Bond Fund | Christopher Langs is no longer listed as a portfolio manager for the fund. | Chuck Carmody joins John Calamos, Sr., John Hillenbrand, Eli Pars, Jon Vacko, and Jeremy Hughes. | 3/16 |
| CIOAX | Calvert International Opportunities Fund | Jonathan Brodsky and Pablow Salas are no longer listed as portfolio managers for the fund. | William Sterling, David Runkle, Jessica Reuss, Marco Priani, Gregory Gigliotti, and Drew Edwards remain. | 3/16 |
| NLGIX | Columbia Global Strategic Equity Fund | Robert McConnaughey is no longer listed as a portfolio manager for the fund. | Melda Mergen joins Mark Burgess in managing the fund. | 3/16 |
| MIDVX | Deutsche Mid Cap Value Fund | Richard Glass in no longer listed as a portfolio manager | Team members, Matthew Cino, Richard Hanlon, and Mary Schafer, move of to co-manager roles. | 3/16 |
| KDSAX | Deutsche Small Cap Value Fund | Richard Glass in no longer listed as a portfolio manager | Team members, Matthew Cino, Richard Hanlon, and Mary Schafer, move of to co-manager roles. | 3/16 |
| FKCGX | Franklin Flex Cap Growth Fund, which will be merged into Franklin Growth at the end of August. | Conrad Herrmann is no longer listed as a portfolio manager for the fund. | Matthew Moberg and Robert Stevenson continue on. | 3/16 |
| FKGRX | Franklin Growth Fund | Conrad Herrmann is no longer listed as a portfolio manager for the fund. | Matthew Moberg and Robert Stevenson join Serena Perin Vinton in managing the fund. | 3/16 |
| GNLRX | Geneva Advisors Emerging Markets Fund | No one, but … | Matthew Scherer has joined Reiner Triltsch and Eswar Menon. | 3/16 |
| GHAFX | Granite Harbor Alternative Fund | Matthew Werner and Bruce Garrison are no longer listed as portfolio managers for the fund. | Peter DeCaprio, Andrew Tuttle, Charles Chen, Amit Chandra, and Ian Arvin have joined Charles Borquist, Peter Lupoff, Ronald Robertson, and Michael Dubinsky. | 3/16 |
| GHTFX | Granite Harbor Tactical Fund | Matthew Werner and Bruce Garrison are no longer listed as portfolio managers for the fund. | Peter DeCaprio, Andrew Tuttle, Charles Chen, Amit Chandra, and Ian Arvin have joined Charles Borquist, Peter Lupoff, Ronald Robertson, and Michael Dubinsky. | 3/16 |
| HABMX | Hartford Real Total Return Fund | Rick Wurster no longer serves as a portfolio manager | Stephen Gorman will continue to serve as a portfolio manager | 3/16 |
| AUBAX | Invesco International Total Return Fund | Mark Nash is no longer listed as a portfolio manager for the fund. | Avi Hooper, Raymund Uy, and Robert Waldner remain on the fund. | 3/16 |
| OGIAX | JPMorgan Investor Balanced Fund | James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. | The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. | 3/16 |
| OICAX | JPMorgan Investor Conservative Growth Fund | James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. | The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. | 3/16 |
| ONGIX | JPMorgan Investor Growth & Income Fund | James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. | The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. | 3/16 |
| ONGAX | JPMorgan Investor Growth Fund | James Sexton will be retiring from J.P. Morgan Investment Management Inc. on May 31, 2016. | The rest of the team, Ove Fladbert, Michael Loeffler, Nicholas D’Eramo, and Pete Klingelhofer, will remain. | 3/16 |
| GMNRX | LMCG Global Market Neutral Fund | Vikram Srimurthy is no longer a portfolio manager of the fund. | Shannon Ericson and Gordon Johnson remain. | 3/16 |
| LSCAX | Loomis Sayles Dividend Income Fund | Matthew Eagan, Daniel Fuss and Elaine Stokes no longer serve as co-portfolio managers of the fund. | Arthur Barry and Adam Liebhoff remain as co-portfolio managers of the fund. | 3/16 |
| LCDAX | Lord Abbett Emerging Markets Corporate Debt Fund | Jerald Lanzotti is no longer listed as a portfolio manager for the fund. | Andrew O’Brien, Leah Traub, and Robert Lee will continue to manage the fund. | 3/16 |
| LEMAX | Lord Abbett Emerging Markets Local Bond Fund | Jerald Lanzotti is no longer listed as a portfolio manager for the fund. | David Ritt, Leah Traub, and Robert Lee will continue to manage the fund. | 3/16 |
| LICAX | Lord Abbett International Core Equity Fund | Todd Jacobson and Vincent McBride are no longer listed as portfolio managers for the fund. | Didier Rosenfeld and Frederick Ruvkun will now manage the fund. | 3/16 |
| FAIIX | Nuveen Core Bond | No one, but… | Jason O’Brien will join Chris Neuharth, Wan-Chong Kung, and Jeffrey Ebert on the management team | 3/16 |
| FAFIX | Nuveen Core Plus Bond Fund | No one, but … | Douglas Baker joins Timothy Palmer, Chris Neuharth, Wan-Chong Kung and Jeffrey Ebert on the management team. | 3/16 |
| FALTX | Nuveen Short Term Bond Fund | No one, but … | Jason O’Brien and Mackenzie Meyer will join Chris Neuharth and Peter Agrimson on the management team. | 3/16 |
| FCDDX | Nuveen Strategic Income Fund | No one, but … | Douglas Baker joins Timothy Palmer, Jeffrey Ebert and Marie Newcome on the management team. | 3/16 |
| OASGX | Optimum Small-Mid Cap Growth Fund | No one, yet. | Columbus Circle Investors and Peregrine Capital Management have been added as subadvisors to the fund. | 3/16 |
| PASEX | Permal Alternative Select Fund | No one, but … | Elecron Capital Partners has been added as a fifth subadvisor to the fund. | 3/16 |
| AOBLX | Pioneer Classic Balanced Fund | Richard Schlanger is no longer listed as a portfolio manager for the fund. | Walter Hunnewell, Jr. is joined by Charles Melchreit and Brad Komenda on the management team. | 3/16 |
| Various | PNC Balanced Allocation Fund, PNC Retirement Income Fund, PNC Target 2020 Fund, PNC Target 2030 Fund, PNC Target 2040 Fund and PNC Target 2050 Fund. | No one, but … | Jason Weber and Michael Colemen will be joining the management team. | 3/16 |
| SGMNX | Schroder Global Multi-Asset Income Fund | Iain Cunningham is no longer listed as a portfolio manager for the fund. | Aymeric Forest will continue to manage the fund. | 3/16 |
| SEQUX | Sequoia | Long-time manager Robert Goldfarb, whose name is above the door: Ruane, Cunniff and Goldfarb, steps down at 71. | David Poppe becomes the sole manager. | 3/16 |
| SSELX | State Street Disciplined Emerging Markets Equity Fund | Jean-Christophe de Beaulieu is no longer listed as a portfolio manager for the fund. | Chee Ooi joins Chris Laine to manage the fund. | 3/16 |
| FSCFX | Strategic Advisers Small-Mid Cap Fund | No one, but … | J.P. Morgan Investment Management has been added as a subadvisor to the fund. Don San Jose joins the extensive management team to manage JPMorgan’s portion of the fund’s assets. | 3/16 |
| Various | USAA First Start Growth Fund, USAA Cornerstone Conservative Fund, USAA Cornerstone Moderately Conservative Fund, USAA Cornerstone Moderate Fund, USAA Cornerstone Moderately Aggressive Fund, USAA Cornerstone Aggressive Fund, USAA Cornerstone Equity Fund, USAA Managed Allocation Fund | No one, but … | Lance Humphry joins the management team of each of the funds. | 3/16 |
| HEMZX | Virtus Emerging Markets Opportunities Fund | Rajiv Jain is no longer a portfolio manager for the fund | Matthew Benkendorf, Vontobel’s CIO, will manage the fund | 3/16 |
| JVIAX | Virtus Foreign Opportunities Fund | Rajiv Jain is no longer a portfolio manager for the fund | Matthew Benkendorf, Vontobel’s CIO, will manage the fund | 3/16 |
| NWWOX | Virtus Global Opportunities Fund | Rajiv Jain is no longer a portfolio manager for the fund | Matthew Benkendorf, Vontobel’s CIO, will manage the fund | 3/16 |
| VGEAX | Virtus Greater European Opportunities Fund | Rajiv Jain is no longer a portfolio manager for the fund | Daniel Kranson will become the sole portfolio manager | 3/16 |
| WMLIX | Wilmington Large Cap Strategy Fund | Mark Schultz will no longer serve as a portfolio manager for the fund. | Matthew Glaser will join Andrew Hopkins and Karen Purzitsky in managing the fund | 3/16 |
Manager changes, February 2016
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| APJAX | Aberdeen Asia-Pacific (ex-Japan) Equity Fund | Chou Chong will no longer serve as a portfolio manager for the fund. | Hugh Young, Flavia Cheong, Adrian Lim, and Christopher Wong will continue to manage the fund. | 2/16 |
| APCAX | Aberdeen Asia-Pacific Smaller Companies Fund | Chou Chong will no longer serve as a portfolio manager for the fund. | Hugh Young, Flavia Cheong, Adrian Lim, and Christopher Wong will continue to manage the fund. | 2/16 |
| BHGSX | Baird LargeCap Fund | Baird Kailash Group will no longer subadvise the fund. | L2 Asset Management will be the new subadvisor to the fund. Sanjeev Bhojraj will join Matthew Malgari in managing the fund. | 2/16 |
| BAEMX | BMO LGM Emerging Markets Equity Fund | No one, but … | Irina Hunter and Rasmus Nemmoe are joined by Rishikesh Patel in managing the fund. | 2/16 |
| ASVAX | Columbia Multi-Advisor Small Cap Value Fund | Mark Dickherber and Shaun Nicholson are no longer listed as portfolio managers for the fund. | Kari Montanus and Richard Rosen will manage the fund. | 2/16 |
| AAIFX | Crow Point Alternative Income Fund, formerly Armor Alternative Income Fund | Joel Price (which is to say, “Armor”) is gone. | Peter DeCaprio, Andrew Tuttle, Charles Chen, Amit Chandra, and Ian Arvin are now managing the fund. | 2/16 |
| TOLLX | Deutsche Global Infrastructure Fund | John Robertson is no longer listed as a portfolio manager for the fund. | John Vojticek, Francis Greywitt, and Manoj Patel continue to manage the fund. | 2/16 |
| DSLAX | Deutsche Strategic Equity Long/Short Fund | Omega Advisors will no longer subadvise the fund, effective April 15, 2016 | The other three subadvisors, Atlantic Investment Management, Chilton Investment Management, and Lazard Asset Management, remain. | 2/16 |
| FIDSX | Fidelity Select Financials Sector | Christopher Lee is no longer listed as a portfolio manager for the fund. | Daniel Dittler will continue to manage the fund. | 2/16 |
| FSHCX | Fidelity Select Health Care Services Portfolio | Steven Bullock is no longer listed as a portfolio manager for the fund. | Justin Segalini and Edward Yoon are managing the fund. | 2/16 |
| FLSRX | Forward Credit Analysis Long Short | Joseph Deane is expected to retire at the end of May, 2016 | David Hammer will soldier on alone | 2/16 |
| PGEOX | George Putnam Balanced Fund | Kevin Murphy is no longer listed as a portfolio manager for the fund. | Aaron Cooper is joined by Paul Scanlon. | 2/16 |
| GHAFX | Granite Harbor Alternative Fund | Chilton Capital Management, Coe Capital Management, Phineas Partners, and Tiburon Capital Management are all out as subadvisors to the fund | Genesis Capital will continue to advise the fund and SeaBridge Investment Advisor remains listed as a subadvisor to the fund. | 2/16 |
| GHTFX | Granite Harbor Tactical Fund | Chilton Capital Management, Coe Capital Management, Phineas Partners, and Tiburon Capital Management are all out as subadvisors to the fund | Genesis Capital will continue to advise the fund and SeaBridge Investment Advisor remains listed as a subadvisor to the fund. | 2/16 |
| HRTVX | Heartland Value Fund | Adam Peck has resigned from his role as portfolio manager. | Eric Miller has been promoted to co-manager and will manage the fund with current co-manager, William Nasgovitz. | 2/16 |
| CAAMX | Invesco Conservative Allocation Fund | Scott Wolle, Christian Ulrich, Scott Hixon, Chris Devine, and Mark Ahnrud are no longer listed as portfolio managers for the fund. | Jacob Borbidge and Duy Nguyen are managing the fund. | 2/16 |
| AADAX | Invesco Growth Allocation Fund | Scott Wolle, Christian Ulrich, Scott Hixon, Chris Devine, and Mark Ahnrud are no longer listed as portfolio managers for the fund. | Jacob Borbidge and Duy Nguyen are managing the fund. | 2/16 |
| AMKAX | Invesco Moderate Allocation Fund | Scott Wolle, Christian Ulrich, Scott Hixon, Chris Devine, and Mark Ahnrud are no longer listed as portfolio managers for the fund. | Jacob Borbidge and Duy Nguyen are managing the fund. | 2/16 |
| JEITX | JPMorgan Global Research Enhanced Index Fund | No one, but … | Piera Elisa Grassi has joined Ido Eisenberg and James Cook in managing the fund. | 2/16 |
| OEIAX | JPMorgan International Research Enhanced Equity Fund | No one, but … | Piera Elisa Grassi has joined Demetris Georghiou, Ido Eisenberg and James Cook on the management team. | 2/16 |
| MIEIX | MFS Institutional International Equity | Marcus Smith will be leaving on April 1, 2016 | Filipe Benzinho is joining Daniel Ling to manage the fund. | 2/16 |
| MALGX | Mirae Asset Emerging Markets Fund | No one, but … | Bert van der Walt is joining Jose Morales and Rahul Chadha in managing the fund | 2/16 |
| MCCGX | Mirae Asset Emerging Markets Great Consumer Fund | No one, but … | Bert van der Walt is joining Jose Morales and Joohee An in managing the fund | 2/16 |
| MGUAX | Mirae Asset Global Great Consumer Fund | No one, but … | Ryan Coyle will join Jose Morales in managing the fund. | 2/16 |
| NBGNX | Neuberger Berman Genesis Fund | No one, quite yet. However, Michael Bowyer has announced his decision to retire from the asset management business on July 31, 2016. | The rest of the team — Judith Vale, Robert D’Alelio, Brett Reiner, and Gregory Spiegel — will remain as managers of the fund. | 2/16 |
| PCOAX | Putnam Capital Opportunities Fund | Randy Farina and John McLanahan are no longer listed as portfolio managers for the fund. | Pam Gao will manage the fund. | 2/16 |
| PNVAX | Putnam International Capital Opportunities Fund | John McLanahan is no longer listed as a portfolio manager for the fund. | Brett Risser and Robert Schoen will manage the fund. | 2/16 |
| PVOYX | Putnam Voyager Fund | Nick Thakore is no longer listed as a portfolio manager for the fund. He produced his peer group’s most volatile and worst-performing fund, and managed to last eight years on the job. | Robert Brookby , whose other funds are admirably mediocre, will now manage the fund. | 2/16 |
| RWDNX | Redwood Managed Volatility Portfolio | Bruce DeLaurentis is no longer a portfolio manager of the fund. | Michael Cheung has been promoted to serve as a portfolio manager with Michael Messinger. | 2/16 |
| SEAKX | Steward Select Bond Fund | No one, but Edward Jaroski is beginning to plan for his retirement. | Upon Mr. Jaroski’s retirement, the fund will continue to be managed by Victoria Fernandez and Claude Cody. | 2/16 |
| FSAMX | Strategic Advisers Emerging Markets Fund | No one, but … | John Chow and Cesar Hernandez are joining Wilfred Chilangwa, John Chisholm, Matthew Vaight, and Edward Robertson on the management team. | 2/16 |
| FSGFX | Strategic Advisers Growth Fund | Vincent Zelenko is no longer listed as a portfolio manager for the fund. | Niall Devitt joins the extensive management team. | 2/16 |
| PRHSX | T. Rowe Price Health Sciences | Taymour Tamaddon, an unsung superstar, will be stepping down as portfolio manager of the fund on July 1, 2016. | Ziad Bakri will join Mr. Tamaddon as co-manager and will become sole portfolio manager in July. | 2/16 |
| TEMAX | Touchstone Emerging Markets Equity Fund | AGF Investments is no longer subadvising the fund. Stephen Way is no longer listed as a portfolio manager. | Russell Investments has been named as an interim advisor, with Wayne Hollister managing the fund. | 2/16 |
| TGAAX | Touchstone Global Real Estate | Douglas Funke, Daniel Pine and Jana Sehnalova are no longer listed as portfolio managers for the fund. | Russell Investments has been named as an interim advisor, with Wayne Hollister managing the fund. | 2/16 |
| VPTSX | Vantagepoint Inflation Focused Fund | Rajen Jadav no longer serves as a portfolio manager. | Mihir Worah, Martin Hegarty, Gargi Chaudhuri, and Greg Wilensky will continue to manage the fund. | 2/16 |
| WHVIX | WHV International Equity Fund | Richard Hirayama is no longer listed as a portfolio manager for the fund. | Matthias Knerr, Chris LaJaunie, and Andrew Manton will now manage the fund. | 2/16 |
| YAFFX | Yacktman Focus | Founder Donald Yacktman is retiring from management on May 1, though he’ll remain as an advisor. | Stephen Yacktman and Jason Subotky will continue to manage the fund. | 2/16 |
| YACKX | Yacktman Fund | Founder Donald Yacktman is retiring from management on May 1, though he’ll remain as an advisor. That’s kind of a “yikes.” | Stephen Yacktman and Jason Subotky will continue to manage the fund. | 2/16 |
Manager changes, January 2016
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| SPEAX | Alger Mid Cap Focus Fund | Dan Chung is no longer listed as a portfolio manager of the fund | Alex Goldman is the portfolio manager of the fund. | 1/16 |
| ALSAX | Alger Small Cap Growth Portfolio | Jill Greenwald is on temporary medical leave. | Daniel Chung will serve as portfolio manager in her absense. Amy Zhang will remain on the fund. | 1/16 |
| PGWAX | AllianzGI Focused Growth Fund | No one, right now. However, Scott Migliori will be leaving the fund as of June 30, 2016. | Raphael Edelman is joining Mssr. Migliori, Karen Hiatt, and David Jedlicki on the management team. On June 30, Ms. Hiatt will assume the role of lead portfolio manager. | 1/16 |
| ACCVX | American Century Capital Value Fund | Matt Titus is no longer listed as a portfolio manager for the fund. | Brian Woglom joins Brendan Healy in managing the fund. | 1/16 |
| ALPAX | American Century Large Company Value Fund | Matt Titus is no longer listed as a portfolio manager for the fund. | Brian Woglom joins Brendan Healy in managing the fund. | 1/16 |
| ATASX | Aston Small Cap Fund – formerly Aston TAMRO Small Cap, soon-to-be AMG GW&K Small Cap Growth Fund | TAMRO Capital Partners have been discharged from their subadvisor role. Therefore, Philip Tasho and Timothy Holland are no longer listed as portfolio managers for the fund. | GW&K Investment Management, LLC is now subadvisor to the fund. Daniel Miller and Joseph Craigen now manage the fund. | 1/16 |
| CTBIX | ASTON/TCH Fixed Income Fund | Tere Alvarez Canida, TCH’s founder, will no longer serve as a portfolio manager for the fund. | Janelle Woodward and Frank Reda join Daniela Mardarovici, Scott Kimball, Alan Habacht and William Canida in managing the fund. | 1/16 |
| AVEMX | Ave Maria Catholic Values Fund | Gregory Heilman is no longer listed as a portfolio manager for the fund. | Timothy Schwartz and Joseph Skornicka join George Schwartz in running the fund. | 1/16 |
| BTSMX | Boston Trust SMID Cap Fund | Stephen Franco and Heidi Vanni are no longer listed as managers of the fund. | Kenneth Scott will continue to run the fund. | 1/16 |
| CLPAX | Catalyst/Lyons Hedged Premium Return Fund | No one, but … | Matthew Ferratusco joins Brent Haworth, Alexander Read, and Michael Schoonover in managing the fund | 1/16 |
| CLTAX | Catalyst/Lyons Tactical Allocation Fund | No one, but … | Matthew Ferratusco joins Brent Haworth, Alexander Read, and Michael Schoonover in managing the fund | 1/16 |
| LTFAX | Columbia Acorn Select | Robert Chalupnik is deceased. | David Frank joins Matthew Szafranski in managing the fund. | 1/16 |
| CSVFX | Columbia Global Dividend Opportunity | Dean Ramos and Steven Schroll are no longer listed as portfolio managers for the fund. | Stephen Thornber and Jonathan Crown are now managing the fund. | 1/16 |
| INEGX | Columbia Global Equity Value Fund | Dean Ramos, Steven Schroll, and Paul Stocking are no longer listed as portfolio managers for the fund. | Fred Copper, Melda Mergen, and Peter Santoro are now managing the fund. | 1/16 |
| SMCEX | Columbia Small Cap Core Fund | Paul Szczygiel and Jeffrey Hershey are no longer listed as portfolio managers for the fund | Alred Alley, III and Brian Condon are now managing the fund. | 1/16 |
| TLVUX | Consulting Group Large Capitalization Value Equity Fund | HGK Asset Management is no longer a subadvisor to the fund. | Delaware Investments Fund Advisers is a new subadvisor to the fund. | 1/16 |
| FUTEX | Discretionary Managed Futures Strategy Fund | Robert Johnson no longer serves as a portfolio manager of the fund. | Brian Borneman, John Milne, Robert Vear, and Deborah Wingerson continue to manage the fund. | 1/16 |
| DDBAX | Dreyfus Emerging Markets Debt Local Currency Fund | Alexander Kozhemiakin is no longer listed as a portfolio manager to the fund. | Javier Murcio and Federico Garcia Zamora continue to manage the fund. | 1/16 |
| DTMAX | Dreyfus Total Emerging Markets Fund | Alexander Kozhemiakin is no longer listed as a portfolio manager to the fund. | Josephine Shea, Federico Garcia Zamora and Gaurav Patankar join Sean Fitzgibbon in managing the fund. | 1/16 |
| FABLX | Fidelity Advisor Balanced Fund | Peter Saperstone is no longer listed as a portfolio manager on the fund. | Peter Dixon joins Ford O’Neil, Monty Kori, Jonathan Kasen, Brian Lempel, Tobias Welo, Robert Stansky, Pierre Sorel, Douglas Simmons, Robert Lee, and Steven Kaye in managing the fund. | 1/16 |
| FCVAX | Fidelity Advisor Small Cap Value Fund | Charles Myers no longer serves as a co-manager of the fund. | Derek Janssen will continue to manage the fund. | 1/16 |
| FCONX | Fidelity Conservative Income Bond Fund | No one, but . . . | Kim Miller is joined by Robert Chan and Robert Galusza. | 1/16 |
| FLATX | Fidelity Latin America Fund | Adam Kutas no longer serves as lead portfolio manager of the fund. | Will Pruett will continue to manage the fund. | 1/16 |
| FSAEX | Fidelity Series All-Sector Equity Fund | Peter Saperstone is no longer listed as a portfolio manager on the fund. | Peter Dixon joins Jonathan Kasen, Brian Lempel, Tobias Welo, Robert Stansky, Pierre Sorel, Douglas Simmons, Robert Lee, and Steven Kaye. | 1/16 |
| PISRX | Forward International Small Companies Fund | Oliver Knobloch will no longer serve as a portfolio manager for the fund. | The remaining members of the management team, David Janec, Nathan Rowader, Paul Broughton, Bill Barker, and Justin Hill, remain. | 1/16 |
| IHSAX | Hartford Small Company Fund | Jamie Rome will be withdrawing from Wellington Management (the subadvisor) at the end of June. He will no longer serve as a portfolio manager to the fund, effective immediately. | Mammen Chally, Stephen Mortimer, Mario Abularach, and Steven Angeli will continue to manage the fund. | 1/16 |
| HEMAX | Henderson Emerging Markets Fund | No one, but … | Michael Cahoon will be joining Glen Finegan in managing the fund at the end of February. | 1/16 |
| HFOAX | Henderson International Opportunities Fund | No one, but Ian Warmerdam will be taking a sabbatical through the end of 2016. | Ronan Kelleher will continue to manage the fund. On January 1, 2017, Mssr. Warmerdam will return to his management responsibilities. | 1/16 |
| HPEAX | Highland Premier Growth Equity Fund | GE Asset Management will be terminated as a subadvisor effective March 1, 2016. David Carlson will no longer server as portfolio manager. | Highland Captial Management will advise the fund. James Dondero and Michael Gregory are the new portfolio managers. | 1/16 |
| HISIX | Homestead International Equity Fund | Teddy Wong and Dwayne Hancock are no longer listed as portfolio managers. | Ferrill Roll and Alexander Walsh will manage the fund. | 1/16 |
| JAIGX | Janus Aspen Overseas Portfolio | Brent Lynn is no longer listed as a porfolio manager | George Maris is now managing the fund. | 1/16 |
| JMFAX | Janus Emerging Markets Fund | Wahid Chammas is no longer listed as a portfolio manager for the fund. | Hiroshi Yoh will continue to manage the fund. | 1/16 |
| JDCAX | Janus Forty Fund | No one, but … | Nick Shommer joins A. Douglas Rao in managing the fund. | 1/16 |
| JNOSX | Janus Overseas Fund | Brent Lynn is no longer listed as a porfolio manager | George Maris is now managing the fund. | 1/16 |
| KZSIX | Kaizen Hedged Premium Spreads Fund | Wayne Ferbert and Jay Pestrichelli are no longer listed as portfolio managers of the fund. | Matthew Thompson and Michael Thompson are managing the fund. | 1/16 |
| KFGAX | KF Griffin Blue Chip and Covered Call | Griffin Asset Management will no longer subadvise the fund and Douglas Famigletti will no longer serve as a portfolio manager for the fund. | James Fields and Jonathan Roberts have taken over as portfolio managers to the fund as caretakers ahead of its liquidation. | 1/16 |
| MASNX | Litman Gregory Masters Alternative Strategies Fund | Tim Garry will no longer serve as a portfolio manager for the fund, effective immediately | The rest of the extensive team remains. | 1/16 |
| PEAFX | PIMCO RAE Fundamental Emerging Markets Fund | Jason Hsu is no longer listed as a portfolio manager for the fund. | The fund is now jointly managed by Robert Arnott and Christopher Brightman. | 1/16 |
| PZRAX | PIMCO RAE Fundamental Global ex-US Fund | Jason Hsu is no longer listed as a portfolio manager for the fund. | The fund is now jointly managed by Robert Arnott and Christopher Brightman. | 1/16 |
| PFQAX | PIMCO RAE Fundamental Global Fund | Jason Hsu is no longer listed as a portfolio manager for the fund. | The fund is now jointly managed by Robert Arnott and Christopher Brightman. | 1/16 |
| PPYAX | PIMCO RAE Fundamental International Fund | Jason Hsu is no longer listed as a portfolio manager for the fund. | The fund is now jointly managed by Robert Arnott and Christopher Brightman. | 1/16 |
| PKAAX | PIMCO RAE Fundamental US Fund | Jason Hsu is no longer listed as a portfolio manager for the fund. | The fund is now jointly managed by Robert Arnott and Christopher Brightman. | 1/16 |
| PMJAX | PIMCO RAE Fundamental US Small Fund | Jason Hsu is no longer listed as a portfolio manager for the fund. | The fund is now jointly managed by Robert Arnott and Christopher Brightman. | 1/16 |
| SBMBX | Saratoga Energy & Basic Materials Fund | David Cohen is no longer managing the fund. | John Brim, Stephanie Jones, and Stephen Smith will manage the fund. | 1/16 |
| SFPAX | Saratoga Financial Service Portfolio Fund | Thomas Finucane will no longer manage the fund | John Brim and Stephen Smith will manage the fund. | 1/16 |
| SLCGX | Saratoga Large Capitalization Growth Portfolio Fund | Aziz Hamzaogullari | John Brim and Stephen Smith will manage the fund. | 1/16 |
| SEEFX | Saturna Sustainable Equity Fund | Paul Meeks is no longer listed as a portfolio manager for the fund. | Nicholas Kaiser joins Peter Nielsen in managing the fund. | 1/16 |
| SSGFX | Sextant Growth Fund | Paul Meeks is no longer listed as a portfolio manager for the fund. | Tyler Howard joins Scott Klimo in managing the fund. | 1/16 |
| BGFAX | UBS Asset Growth Fund | Curt Custard – whose name brings to mind images of a lemony pudding – no longer serves as a portfolio manager for the fund | Luke Browne, Richard Lloyd and Philip Brides continue to manage the fund. | 1/16 |
| BNAAX | UBS Dynamic Alpha Fund | Curt Custard no longer serves as a portfolio manager for the fund | Jonathan Davies and Andreas Koester continue to manage the fund | 1/16 |
| BNGLX | UBS Global Allocation Fund | Curt Custard no longer serves as a portfolio manager for the fund | Jonathan Davies, Philip Brides and Andreas Koester continue to manage the fund | 1/16 |
| PWTAX | UBS U.S. Allocation Fund | Curt Custard is no longer a portfolio manager of the fund, effective immediately. | Andreas Koester will continue to manage the fund. | 1/16 |
| VFTSX | Vanguard FTSE Social Index Fund | Christine Franquin is no longer listed as a portfolio manager of the fund | William Coleman and Gerard O’Reilly will manage the fund. | 1/16 |
| VMRGX | Vanguard Morgan Growth Fund | Kalmar Investment Advisors is no longer a subadvisor to the fund. Dana Walker and Ford Draper are no longer listed as portfolio managers. | The rest of the team, James Stetler, Paul Marrkand, Kathleen McCarragher, Stephen Knightly, Christopher Scarpa, Michael Roach, James Troyer, and Blair Boyer, remain to manage the fund. | 1/16 |
| MUXAX | Victory S&P 500 Index Fund | Michael Mikha and Eric Lessnau | Dan Banaszak, Robert Bateman, David Hallum, Stephen Hammers, and Alex Pazdan are managing the fund. | 1/16 |
| IGPAX | Voya Global Target Payment Fund | No one, but … | Jody Hrazanek joins Paul Zemsky as a mangerfor the fund. | 1/16 |
| NAWGX | Voya Global Value Advantage Fund | No one, but … | Maya Venkatraman joins James Ying, Vincent Costa, Christoper Corapi, and Martin Jansen on the management team. | 1/16 |
| IEDAX | Voya Large Cap Value Fund | No one, but … | James Dorment joins Kristy Finnegan, Vincent Costa, and Christopher Corapi in managing the fund. | 1/16 |
| WASMX | Walden SMID Cap Innovations Fund | Stephen Franco and Heidi Vanni are no longer listed as managers of the fund. | Kenneth Scott will continue to run the fund. | 1/16 |
| WALTX | Wells Fargo Alternative Strategies Fund | Tim Garry will no longer serve as a portfolio manager for the fund, effective immediately | The rest of the extensive team remains. | 1/16 |
| SILAX | Wells Fargo Diversified International Fund | Jeffrey Everett in longer on the management team. | Mark Yockey, Josef Lakonishok, Puneet Mansharamani, Menno Vermeulen, and Dale Winner remain as portfolio managers for the fund. | 1/16 |
| WGLAX | Wells Fargo Global Long/Short Fund | Jeffrey Everett in longer on the management team. | Dale Winner will continue to manage the fund. | 1/16 |
| WFEAX | Wells Fargo International Equity Fund | Jeffrey Everett in longer on the management team. | Dale Winner will continue to manage the fund. | 1/16 |
| IPBAX | Wells Fargo Real Return | Jeffrey Everett in longer on the management team. | Kandarp Acharya, Michael Bradshaw, Christian Chan, Ann Miletti, Jay Mueller, Thomas Price and Dale Winner remain as portfolio managers for the fund. | 1/16 |
| WTMGX | Westcore MIDCO Growth Fund | Brian Fitzsimons, Mitch Begun, Adam Bliss, and Jeffrey Loehr are no longer managing the fund. | Craig Juran will manage the fund. | 1/16 |
| WTSLX | Westcore Select Fund | Brian Fitzsimons, Mitch Begun, Adam Bliss, F. Wiley Reed and Jeffrey Loehr are no longer managing the fund. | Craig Juran will manage the fund. | 1/16 |
| WTSGX | Westcore Small-Cap Growth Fund | Jeffrey Loehr and F. Wiley Reed are no longer listed as portfolio managers for the fund. | Mitch Begun, Adam Bliss and Brian Fitzsimons will continue to manage the fund | 1/16 |
Manager changes, December 2015
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| AEDQX | American Century Emerging Markets Debt Fund | Phil Yuhn will no longer serve as a portfolio manager to the fund | Margé Karner, John Lovito, Brian Howell, and Kevin Akioka will remain with the fund | 12/15 |
| BDCAX | AR Capital BDC Income Fund | Robert Grunewald is no longer listed as a portfolio manager for the fund. | Shiloh Bates is now managing the fund. | 12/15 |
| CWGDX | Christopher Weil & Company Global Dividend Fund | Luong Nguyen and Soledad Investment Management are no longer listed on the fund. | John Wells, president of Christopher Weil & Company, has assumed management of the fund. | 12/15 |
| LGGAX | Clearbridge Global Growth Trust, soon to be ClearBridge International Growth Fund | No one, but . . . | Elisa Mazen and Michael Testorf are joined by Pawel Wroblewski and Thor Olsson in managing the fund. | 12/15 |
| COGAX | Columbia Select Global Growth Fund, formerly the Columbia Marsico Global Fund. | Marsico Capital Management is out as a subadvisor and Thomas Marsico is no longer listed as a portfolio manager for the fund. That happens a lot. | The fund is now managed by Thomas Galvin, Richard Carter, and Todd Herget. | 12/15 |
| CLVFX | Croft Focus Fund | No one, but . . . | Patrick Halloran joins Kent Croft and G. Russell Croft in managing the fund. | 12/15 |
| DGFAX | Davis Global Fund | As of January 1, 2016, Tania Pouschine will be removed as a portfolio manager of the fund. | Christopher Davis and Danton Goei will continue to manage the fund. | 12/15 |
| DILAX | Davis International Fund | As of January 1, 2016, Tania Pouschine will be removed as a portfolio manager of the fund. | Christopher Davis and Danton Goei will continue to manage the fund. | 12/15 |
| DBOAX | Dreyfus Balanced Opportunity Fund | Sean Fitzgibbon is no longer listed as a portfolio manager for the fund. | George DeFina and John Bailer have joined Keith Stransky, Brian Ferguson, David Bowser, and David Horsfall in managing the fund. | 12/15 |
| DGRIX | Dreyfus Growth And Income Fund, Inc. | No one, but . . . | David Intoppa and Leigh Todd have joined Elizabeth Slover and John Bailer in managing the fund. | 12/15 |
| DLSAX | Dreyfus Research Long/Short Equity Fund | No one, but . . . | Matthew Jenkin joins Elizabeth Slover and Matthew Griffin in managing the fund. | 12/15 |
| DAGVX | Dreyfus Strategic Value Fund | No one, but . . . | David Intoppa has joined Brian Ferguson and John Bailer in managing the fund. | 12/15 |
| DTMAX | Dreyfus Total Emerging Markets Fund | No one, but . . . | Gaurav Patankar has joined Sean Fitzgibbon and Alexander Kozhemiakin in managing the fund. | 12/15 |
| FACEX | Frost Growth Equity Fund | Brad Thompson will no longer serve as a portfolio manager for the fund. | John Lutz, Tom Stringfellow, and AB Mendez continue to manage the fund. | 12/15 |
| FADVX | Frost Value Equity Fund | Brad Thompson will no longer serve as a portfolio manager for the fund. | Michael Brell, Tom Stringfellow, Craig Leighton, and Tom Bergeron will continue to manage the fund. | 12/15 |
| EDIAX | Global Income Builder Fund, formerly the Eaton Vance Global Dividend Income Fund | No one, but . . . | Jeffrey Mueller has joined John Croft, Michael Allison, and Christopher Dyer in managing the fund. | 12/15 |
| HCVAX | Hartford Conservative Allocation Fund | Wellington Management Company is no longer a sub-advisor. Wendy Cromwell and Richard Meagher are no longer listed as portfolio managers for the fund. | Vernon Meyer and Allison Mortensen are now managing the fund. | 12/15 |
| HBAAX | Hartford Moderate Allocation Fund | Wellington Management Company is no longer a sub-advisor. Wendy Cromwell and Richard Meagher are no longer listed as portfolio managers for the fund. | Vernon Meyer and Allison Mortensen are now managing the fund. | 12/15 |
| JDBAX | Janus Balanced Fund | No one, but . . . | Marc Pinto and Gibson Smith have been joined by Jeremiah Buckley, Mayur Saiga, and Darrell Watters on the management team. | 12/15 |
| OSGIX | JPMorgan Mid Cap Growth Fund | No one, but . . . | Felise Agranoff is joins Timothy Parton in managing the fund. | 12/15 |
| MNILX | Litman Gregory Masters International Fund | Effective immediately, William Fries of Thornburg Investment Management, a former M* manager of the year, has been removed as he transitions out of active portfolio management. | David Herro, Jeremy DeGroot, Howard Appleby, Jean-Francois Ducrest, James LaTorre, Vinson Walden, Mark Little and Rajat Jain remain to manage the fund. | 12/15 |
| MSAKX | MainStay Absolute Return Multi-Strategy Fund | Daniel Spears will no longer serve as a portfolio manager for the fund. | The rest of the extensive team remains. | 12/15 |
| CSHAX | MainStay Cushing MLP Premier Fund | Daniel Spears will no longer serve as a portfolio manager for the fund. | Kevin Gallagher and Jerry Swank remain on the fund. | 12/15 |
| CURAX | MainStay Cushing Royalty Energy Income Fund | Daniel Spears will no longer serve as a portfolio manager for the fund. | Judd Cryer and Jerry Swank remain on the fund. | 12/15 |
| GGEIX | Nationwide Global Equity Fund | The UBS Global Asset Management team has been removed from the fund. Charles Burbeck and Nicholas Irish are no longer listed as portfolio managers for the fund. | The UBS Asset Management team now subadvises the fund, with Bruno Bertocci and Joseph Elegante managing the fund. This is accompanied by a change in principal investment strategies. | 12/15 |
| NBHAX | Neuberger Berman Equity Income Fund | Anthony Gleason will retire effective February 1, 2016. | Richard Levine, Alexandra Pomeroy, and William Hunter will remain on the management team. | 12/15 |
| NBMIX | Neuberger Berman Small Cap Growth Fund | David Burshtan is no longer listed as a portfolio manager for the fund. | The fund is now managed by Chad Bruso, Marco Minonne, Trevor Moreno, and Kenneth Turek. | 12/15 |
| OASGX | Optimum Small-Mid Cap Growth Fund | Robert Chalupnik is no longer listed as a portfolio manager for the fund. | Matthew Litfin joins William Doyle in managing the fund. | 12/15 |
| OASVX | Optimum Small-Mid Cap Value Fund | Tocqueville Asset Management and the Killen Group, Inc. will no longer be sub-advisors to the fund. | LSV Asset Management has been approved as a subadvisor to the fund with Josef Lakonishok, Menno Vermeulen, Puneet Mansharamani, Greg Sleight and Guy Lakonishok responsible for day-to-day management of the fund. | 12/15 |
| Various | PIMCO RealPath Income Fund, PIMCO RealPath 2020 Fund, PIMCO RealPath 2025 Fund, PIMCO RealPath 2030 Fund, PIMCO RealPath 2035 Fund, PIMCO RealPath 2040 Fund, PIMCO RealPath 2045 Fund, PIMCO RealPath 2050 Fund and PIMCO RealPath 2055 Fund | Vineer Bhansal is no longer listed as a portfolio manager for the funds. | Mihir Worah and Graham Rennison join Rahul Devgon in managing the funds. | 12/15 |
| PQTAX | PIMCO TRENDS Managed Futures Strategy Fund | Vineer Bhansal is no longer listed as a portfolio manager for the fund. | Josh Davis joins Matthew Dorsten and Graham Rennison in managing the fund. | 12/15 |
| SRFMX | Sarofim Equity Fund | Jeffrey Jocobe will no longer serve as a portfolio manager for the fund. | Fayez Sarofim, W. Gentry Lee, Reynaldo Reza, and Alan Christensen remain with the fund. | 12/15 |
| SLSSX | Selected International Fund | As of January 1, 2016, Tania Pouschine will be removed as a portfolio manager of the fund. | Christopher Davis and Danton Goei will continue to manage the fund. | 12/15 |
| SOAEX | Spirit of America Energy Fund | Raymond Mathis is no longer listed as a portfolio manager for the fund. | William Mason will manage the fund. | 12/15 |
| SOAAX | Spirit of America Real Estate Income & Growth Fund | Raymond Mathis and Alpana Sen are no longer listed as portfolio managers for the fund. | William Mason and Douglas Revello will manage the fund. | 12/15 |
| FSCFX | Strategic Advisers Small-Mid Cap Fund | No one, but . . . | Arrowpoint Asset Management and AllianceBernstein are new subadvisors to the fund. | 12/15 |
| FNAPX | Strategic Advisers Small-Mid Cap Multi-Manager Fund | No one, but . . . | Arrowpoint Asset Management and AllianceBernstein are new subadvisors to the fund. | 12/15 |
| TCWAX | Templeton China World Fund | Allan Lam, Dennis Lim, and Tom Wu are no longer listed as portfolio managers for the fund. | Eddie Chow and Mark Mobius remain as managers for the fund. | 12/15 |
| TGVAX | Thornburg International Value | No one, at the moment, but William Fries intends to transition away from the fund into a new role as Senior Advisor to the Thornburg investment team. | Di Zhou joins William Fries and Lei Wang in anticipation of Mssr. Fries diminishing role with the fund. | 12/15 |
| TSAAX | Touchstone Controlled Growth with Income Fund | Lucian Marinescu is no longer listed as a portfolio manager for the fund. | Anthony Wicklund and Nathan Palmer, who started in 11/2015, are managing the fund. | 12/15 |
| TBAAX | Touchstone Dynamic Diversified Income Fund | Lucian Marinescu is no longer listed as a portfolio manager for the fund. | Anthony Wicklund and Nathan Palmer are managing the fund. | 12/15 |
| TVRAX | Transparent Value Directional Allocation Fund | Armen Arus, president and co-founder of Transparent Value, resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVEAX | Transparent Value Dividend Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVAAX | Transparent Value Large-Cap Aggressive Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVBAX | Transparent Value Large-Cap Core Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVDAX | Transparent Value Large-Cap Defensive Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVGAX | Transparent Value Large-Cap Growth Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVMAX | Transparent Value Large-Cap Market Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVVAX | Transparent Value Large-Cap Value Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVSAX | Transparent Value Small-Cap Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| TVKAX | Transparent Value SMID-Cap Directional Allocation Fund | Armen Arus resigned from the fund and the sub-adviser. | Scott Hammond and Gennadiy Khayutin continue to manage the fund. | 12/15 |
| SBALX | Victory Strategic Allocation Fund | Heidi Adleman is no longer listed as a portfolio manager for the fund. | Kelly Cliff will manage the fund. | 12/15 |
| WATWX | Wanger Select Fund | Robert Chalupnik is deceased. | David Frank joins Matthew Szafranski in managing the fund. | 12/15 |
| WGLIX | William Blair Global Small Cap Growth Fund | Matthew Litfin is no longer listed as a portfolio manager for the fund. | Andrew Flynn remains as the sole manager of the fund. | 12/15 |
| WCGIX | William Blair Mid Cap Growth Fund | No one, but . . . | Daniel Crowe joins David Ricci and Robert Lanphier in managing the fund. | 12/15 |
| WSMDX | William Blair Small-Mid Cap Growth Fund | No one, but . . . | Daniel Crowe joins Karl Brewer and Robert Lanphier in managing the fund. | 12/15 |
Manager changes, November 2015
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| IICAX | AMF Large Cap Equity Fund | Mark Trautman and John McCabe are retiring as the portfolio managers effective December 31, 2015. | They will be replaced by Robert Jones and Ana Galliano on January 1, 2016 | 11/15 |
| BACAX | BlackRock All-Cap Energy & Resources Portfolio | No one, but . . . | Alastair Bishop has joined Robin Batchelor and Poppy Allonby in managing the fund. | 11/15 |
| SSGRX | BlackRock Energy & Resources Portfolio | No one, but . . . | Joshua Freedman has joined Robin Batchelor and Poppy Allonby in managing the fund. | 11/15 |
| BMMAX | BlackRock Multi-Manager Alternative Strategies Fund | Achievement Asset Management will no longer be a subadviser to the fund. | Pine River Capital Management and Marathon Asset Management have been added as subadvisers. | 11/15 |
| CAAAX | Calvert Aggressive Allocation Fund | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Joshua Linder is joined by John Nichols and Vishal Khanduja | 11/15 |
| CSIFX | Calvert Balanced Portfolio | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Matthew Duch, Vishal Khanduja, and Joshua Linder are joined by Jade Huang, Christopher Madden, Kurt Moeller, Mauricio Agudelo, and Brian Ellis. | 11/15 |
| CCLAX | Calvert Conservative Allocation Fund | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Joshua Linder is joined by John Nichols and Vishal Khanduja | 11/15 |
| CEIAX | Calvert Global Equity Income Fund | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Rachel Volynsky and Yvonne Bishop will continue to serve as portfolio managers for the fund. | 11/15 |
| CLVAX | Calvert Global Value Fund | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Rachel Volynsky and Yvonne Bishop will continue to serve as portfolio managers for the fund. | 11/15 |
| CWVGX | Calvert International Equity Fund | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Joshua Linder, Christopher Madden, Kurt Moeller, and Jade Huang have taking over management of the fund. | 11/15 |
| CMIFX | Calvert Large Cap Core Portfolio | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Joshua Linder, Christopher Madden, Kurt Moeller, and Jade Huang have taking over management of the fund. | 11/15 |
| CMAAX | Calvert Moderate Allocation Fund | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Joshua Linder is joined by John Nichols and Vishal Khanduja | 11/15 |
| CCVAX | Calvert Small Cap Fund | Natalie Trunow will no longer serve as a portfolio manager for the fund. | Joshua Linder, Christopher Madden, Kurt Moeller, and Jade Huang have taking over management of the fund. | 11/15 |
| SBVAX | Clearbridge Small Cap Value Fund | Peter Hable, Mark Bourguignon, Mark Feasey, and Michael Kang are no longer listed as portfolio managers to the fund. | Tim Daubenspeck and Juan Miguel del Gallego are now listed as portfolio managers. | 11/15 |
| DRSAX | Dreman Contrarian Small Cap Value Fund | E. Clifton Hoover is no longer listed as a portfolio manager on the fund. Mr. Hoover is now Dreman’s CIO. Over his career, he’s managed or helped manage 20 funds. After stepping aside here, he no longer manages any. | Mark Roach, David Brenan, Mario Tufano, and Nelson Woodard will continue to manage the fund. | 11/15 |
| FBALX | Fidelity Balanced Fund | Peter Saperstone is no longer listed as a portfolio manager on the fund. | Peter Dixon joins the rest of the team in managing the fund | 11/15 |
| FSAEX | Fidelity Series All-Sector Equity Fund | Peter Saperstone is no longer listed as a portfolio manager on the fund. | Peter Dixon joins the rest of the team in managing the fund | 11/15 |
| GDAFX | Goldman Sachs Dynamic Allocation Fund | Osman Ali will no longer serve as a portfolio manager for the fund. | William Fallon and James Park will continue on. | 11/15 |
| HYFIX | Harbor High-Yield Bond Fund | Mark Flanagan will be retiring at the end of the year. | Mark Shenkman, Eric Dobbin, Justin Slatky, Steven Schweitzer and Robert Kricheff will continue to serve as co-portfolio managers for the fund. | 11/15 |
| HJPSX | Hennessy Japan Small Cap Fund | Hidehiro Moriya is no longer listed as a portfolio manager on the fund. | Tetsuya Hirano joins Tadahiro Fujimura in managing the fund. It is, by the way, a pretty spectacular little vehicle. | 11/15 |
| HCGAX | HSBC Emerging Markets Debt Fund | Guillermo Ossés will no longer serve as a portfolio manager | Lisa Chua, Vinayak Potti, and Nishant Updhyay will continue to manage the fund. | 11/15 |
| HBMAX | HSBC Emerging Markets Local Debt Fund | Guillermo Ossés will no longer serve as a portfolio manager | Lisa Chua, Vinayak Potti, and Nishant Updhyay will continue to manage the fund. | 11/15 |
| HTRAX | HSBC Total Return Fund | Guillermo Ossés will no longer serve as a portfolio manager | Lisa Chua, Vinayak Potti, and Nishant Updhyay will continue to manage the fund. | 11/15 |
| URTAX | JPMorgan Realty Income Fund | Kay Herr is no longer listed as a portfolio manager on the fund. | Jason Ko remains as manager of the fund. | 11/15 |
| LGBAX | Leader Global Bond Fund | Scott Carmack is no longer listed as a portfolio manager on the fund. | John Lekas continues to manage the fund. | 11/15 |
| LCAMX | Leader Short-Term Bond Fund | Scott Carmack is no longer listed as a portfolio manager on the fund. | John Lekas continues to manage the fund. | 11/15 |
| LCATX | Leader Total Return Fund | Scott Carmack is no longer listed as a portfolio manager on the fund. | John Lekas continues to manage the fund. | 11/15 |
| ALFAX | Lord Abbett Alpha Strategy Fund | No one, but . . . | Giulio Martini joins Robert Gerver in managing the fund. | 11/15 |
| LDSAX | Lord Abbett Diversified Equity Strategy Fund | No one, but . . . | Giulio Martini joins Robert Gerver in managing the fund. | 11/15 |
| LABFX | Lord Abbett Multi-Asset Balanced Opportunity Fund | No one, but . . . | Giulio Martini joins Robert Gerver in managing the fund. | 11/15 |
| LAGEX | Lord Abbett Multi-Asset Global Opportunity Fund | No one, but . . . | Giulio Martini joins Robert Gerver in managing the fund. | 11/15 |
| LWSAX | Lord Abbett Multi-Asset Growth Fund | No one, but . . . | Giulio Martini joins Robert Gerver in managing the fund. | 11/15 |
| ISFAX | Lord Abbett Multi-Asset Income Fund | No one, but . . . | Giulio Martini joins Robert Gerver in managing the fund. | 11/15 |
| MDOSX | Manning & Napier Dynamic Opportunities | Ajay Sadarangani is no longer listed as a portfolio manager on the fund. | Michele Panzeri joins Brian Lester and Habibe Hakiqi in managing the fund | 11/15 |
| MNGSX | Manning & Napier Global Fixed Income | Marc Tommasi is no longer listed as a portfolio manager on the fund. | Marc Bushallow and R. Keith Harwood remain on the fund | 11/15 |
| EXITX | Manning & Napier International | Marc Tommasi and Robert Crawford are no longer listed as portfolio managers to the fund. | Jeffrey Donlon joins Scott Shatuck and Ben Rozin in managing the fund. | 11/15 |
| MEMAX | MFS Emerging Markets Equity Portfolio | On January 1, 2016, Massachusetts Financial Services Company will no longer subadvise the fund. Makes the “MFS” part of the name a bit antique. | Aberdeen Asset Managers will be the new subadviser to the fund. | 11/15 |
| MFMPX | Morgan Stanley Institutional Frontier Emerging Markets Portfolio | No one, but . . . | Pierre Horvilleur joins Tim Drinkall in managing the fund. | 11/15 |
| MELAX | Morgan Stanley Institutional Emerging Markets Leaders Portfolio | No one, but . . . | Vishal Gupta has joined Ashutosh Sinha in managing the fund. | 11/15 |
| NABAX | Neuberger Berman Absolute Return Multi-Manager Fund | No one, but . . . | Portland Hill Capital, LLP, is a new subadviser to the fund. | 11/15 |
| SNAEX | Schroder North American Equity Fund | Stuart Adrian is no longer listed as a portfolio manager on the fund. | Ayse Serinturk joins Stephen Langford, Ben Corris, James Larkman, and Justin Abercrombie on the management team. | 11/15 |
| SMILX | SMI Conservative Allocation Fund | No one, however, Scout Investments, Inc. will no longer be a subadvisor to the fixed income portion of the portfolio. | The Sound Mind management team remains the same. | 11/15 |
| SMIDX | SMI Dynamic Allocation Fund | No one, however, Scout Investments, Inc. will no longer be a subadvisor to the fixed income portion of the portfolio. | The management team remains the same. | 11/15 |
| SSSDX | SSgA Dynamic Small Cap Fund | Marc Reinganum is no longer listed as a portfolio manager on the fund. | John O’Connell joins Anna Lester in managing the fund. | 11/15 |
| SLSAX | Sterling Capital Long/Short Equity Fund | No one, but . . . | The Board of Trustees has appointed Caerus Investors, LLC as a new subadvisor to the fund beginning in February 2016. | 11/15 |
| TWAAX | Thrivent Partner Worldwide Allocation Fund | No one, but . . . | Paul Blankenhagen and Juliet Cohn are joining the management team. | 11/15 |
| TVLAX | Touchstone Value Fund | Timothy Culler is no longer listed as a portfolio manager on the fund. | Jeff Fahrenbruch and David Ganucheau joined Lewis Ropp, Mark Giambrone, and James Barrow on the management team. | 11/15 |
| PSPFX | U.S. Global Investors Global Resources Fund | Brian Hicks will no longer serve as a portfolio manager for the fund. | Ralph Aldis joins Frank Holmes in managing the fund. | 11/15 |
| MEGAX | U.S. Global Investors Holmes Macro Trends Fund | Brian Hicks will no longer serve as a portfolio manager for the fund. | Ralph Aldis joins Frank Holmes in managing the fund. | 11/15 |
| VGENX | Vanguard Energy Fund | Karl Bandtel will retire from Wellington Management Company, a subadvisor, in June 2016. | In preparation for Mssr. Bandtel’s retirement, Gregory LeBlanc has joined the team as a comanager for the portion of the fund managed by Weillington Management. The rest of the team remains. | 11/15 |
| VWESX | Vanguard Long-Term Investment-Grade Fund | Lucius Hill will retire from Wellington Management Company, a subadvisor, in June 2016. | The rest of the team will remain. | 11/15 |
| VPDSX | Vantagepoint Discovery Fund | No one, but . . . | Daniel Fitzpatrick joined the team of James Wong, Jamie Rome, and Brian Matthews in managing the fund. | 11/15 |
| VPEIX | Vantagepoint Equity Income Fund | Brian Rogers is no longer listed as a portfolio manager on the fund. | John Linehan joins Dwayn Hancock, Karen Grimes, Michael Feehily, O. Mason Hawkins, and G. Staley Cates in managing the fund | 11/15 |
| VSAIX | Virtus Alternative Inflation Solution Fund | John Brynjolfsson will no longer serve as a portfolio manager for the fund and Armoured Wolf, LLC is no longer a subadvisor to the fund. | Fischer, Francis, Trees & Watts, Inc. has been added as a subadvisor to the fund with Adnan Akant and Cedric Sholtes managing that portion of the portfolio. The rest of the team remains unchanged. | 11/15 |
| VATAX | Virtus Alternative Total Solution Fund | John Brynjolfsson will no longer serve as a portfolio manager for the fund and Armoured Wolf, LLC is no longer a subadvisor to the fund. | Fischer, Francis, Trees & Watts, Inc. has been added as a subadvisor to the fund with Adnan Akant and Cedric Sholtes managing that portion of the portfolio. The rest of the team remains unchanged. | 11/15 |
| WBLFX | Whitebox Market Neutral Equity Fund | Jason Cross will be retiring, effective December 15, 2015. | Paul Karos and Andrew Redleaf will continue to manage the fund. | 11/15 |
| WBINX | Whitebox Tactical Advantage Fund | Jason Cross will be retiring, effective December 15, 2015. | Paul Karos will join the management team of Paul Twitchell, Robert Vogel, and Andrew Redleaf, immediately. | 11/15 |
| WBMAX | Whitebox Tactical Opportunities Fund | Jason Cross will be retiring, effective December 15, 2015. | Paul Karos will join the management team of Paul Twitchell, Robert Vogel, and Andrew Redleaf, immediately. | 11/15 |
Manager changes, October 2015
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| AMTAX | AB All Market Real Return Portfolio | Jonathan Ruff will no longer serve as a portfolio manager for the fund. | Vinod Chathlani joins Daniel Loewy and Vadim Zlotnikov as a manager to the fund. | 10/15 |
| ADVGX | Advisory Research All Cap Value Fund | No one, but . . . | Chris Harvey joins James Langer, Matthew Swaim, and Bruce Zessar in managing the fund. | 10/15 |
| ADVSX | Advisory Research Small Company Opportunities | Paul Galat and Shreekkanth Viswanathan will no longer serve as a portfolio manager for the fund. | James Langer and Matthew Swaim are joined by Chris Harvey and Bruce Zessar. | 10/15 |
| EMEAX | Ashmore Emerging Markets Equity Fund | Cindy Chi is no longer listed as a portfolio manager on the fund. | Felicia Morrow and Alejandro Garza continue to manage the fund | 10/15 |
| EFEAX | Ashmore Emerging Markets Frontier Equity Fund | Peter Trofimenko will no longer serve as a portfolio manager for the fund. | Bryan D’Aguiar, Alejandro Garza, and Felicia Morrow will continue to manage the fund | 10/15 |
| ESSAX | Ashmore Emerging Markets Small-Cap Equity Fund | Cindy Chi is no longer listed as a portfolio manager on the fund. | Felicia Morrow and Alejandro Garza continue to manage the fund | 10/15 |
| BMPEX | Beck, Mack & Oliver Partners Fund | Zachary Wydra is no longer listed as a portfolio manager on the fund. | Robert Beck has taken over as portfolio manager of the fund. | 10/15 |
| BPLEX | Boston Partners Long/Short Equity Fund | Ali Motamed will no longer serve as a portfolio manager for the fund. | Robert Jones will continue to manage the fund | 10/15 |
| CWGDX | Christopher Weil & Company Global Dividend Fund | Soledad Investment Management will resign as a subadvisor to the fund effective December 19, 2015 | It’s unclear who will be managing the fund after December 19th. | 10/15 |
| LGGAX | Clearbridge Global Growth, which will become ClearBridge International Growth Fund at the end of the year. | Gibboney Huske is no longer listed as a portfolio manager on the fund. | Michael Testorf joins Elisa Mazen in managing the fund. | 10/15 |
| LACAX | Columbia Acorn Fund | As announced in May, Robert Mohn, has stepped down from his lead portfolio manager role. | David Frank will be joined by P. Zachary Egan | 10/15 |
| LAUAX | Columbia Acorn USA | As announced in May, Robert Mohn, has stepped down from his lead portfolio manager role. | William Doyle will remain on the fund | 10/15 |
| CSCEX | Columbia Active Portfolios Multi-Manager Small Cap Equity Fund | No one, but . . . | BMO Asset Management Corp has been added to the list of subadvisors. As a result of this, David Corris and Thomas Lettenberger join the extensive team managing this fund. | 10/15 |
| NMGIX | Columbia Marsico Growth Fund | Kevin Boone is no longer listed as a portfolio manager on the fund. | Thomas Marsico and Coralie Witter remain as managers for the fund. | 10/15 |
| TISHX | Deutsche Communications Fund | Walter Holick and Frederic Fayolle are no longer listed as portfolio managers of the fund | Brendan O’Neill will take over management of the fund. | 10/15 |
| KTRAX | Deutsche Global Income Builder Fund | Thomas Schuessler and Philip Condon are no longer listed as portfolio managers on the fund. | Darwei Kung joins William Chepolis, Gary Russell, John Ryan, Walter Holman, and Fabian Degen in managing the fund. | 10/15 |
| SERAX | Deutsche World Dividend Fund | Oliver Pfeil and Thomas Schuessler are no longer listed as portfolio managers on the fund. | Fabian Degen is joined by Walter Holman and Sebastian Werner in managing the fund. | 10/15 |
| MDDDX | FDP BlackRock Janus Growth Fund, formerly the Marsico Growth FDP Fund | Kevin Boone, Coralie Witter, and Thomas Marsico are out, as Marsico Capital Management has been replaced by Janus Capital Management as a subadvisor to the fund. | Carmel Wellso will manage the fund. | 10/15 |
| FSDAX | Fidelity Select Portfolios Defense and Aerospace Portfolio | Douglas Scott will no longer serve as a portfolio manager for the fund. | Jonathan Siegmann takes over management of the fund. | 10/15 |
| FBSOX | Fidelity Select Portfolios Information Technology Sector | No one, but . . . | Daniel Sherwood joins Kyle Weaver in managing the fund. | 10/15 |
| FMSLX | FMC Select Fund | Andrew Freedberg will cease serving as a co-portfolio manager of the fund. | Michael Kelter will become a co-portfolio manager of the fund, joining Timothy Muccia. | 10/15 |
| FLSLX | Forward Credit Analysis Long/Short Fund | No one, but . . . | David Hammer returns and joins Joseph Deane on the management team. | 10/15 |
| AHBIX | Forward High Yield Bond Fund | Steven Michaels is no longer listed as a portfolio manager on the fund. | Henry Chu and Ashish Shah are the portfolio managers of the fund. | 10/15 |
| GSRAX | Goldman Sachs Dividend Focus Rising Dividend Growth Fund | Jere Estes will no longer serve as a portfolio manager for the fund. | C. Troy Shaver, Ying Wang, and Michael Nix will continue to manage the fund. | 10/15 |
| GMLVX | GuideMark Emerging Markets | Michael Nayfa, Terry Pelzel, and Mark Giambrone are no longer listed as portfolio managers to the fund. | Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. | 10/15 |
| GMLGX | GuideMark Large Cap Core Service | Paul Marrkand is no longer listed as a portfolio manager on the fund. | Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. | 10/15 |
| GMSMX | GuideMark Small/Mid Cap Core Service | Cheryl Duckworth and Mark Mandel are no longer listed as portfolio managers to the fund. | Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. | 10/15 |
| GMWEX | GuideMark World ex-US Service | César Hernandez is no longer listed as a portfolio manager on the fund. | Khalid Ghayur, Ronan Heaney, and Stephan Platt are managing the fund. | 10/15 |
| HISIX | Homestead International Value Fund | Cindy New, Robin Kollannur, and Charles Radtke are no longer listed as portfolio managers to the fund. | Dwayne Hancock and Teddy Wong will manage the fund. | 10/15 |
| HBAFX | Huntington Balanced Allocation Fund | Kirk Mentzer and Peter Sorrentino are no longer listed as portfolio managers to the fund. | David Miller and Michael Schoonover will manage the fund. | 10/15 |
| HDCAX | Huntington Dividend Capture Fund | Kirk Mentzer and Peter Sorrentino are no longer listed as portfolio managers to the fund. | David Miller and Michael Schoonover will manage the fund. | 10/15 |
| HGSAX | Huntington Global Select Markets Fund | Paul Attwood and Peter Sorrentino are no longer listed as portfolio managers to the fund. | Mike Newton, Edward Baker, Samuel Kwong, Mathias Wikberg, and Walid Khalfallah will manage the fund. | 10/15 |
| HRSAX | Huntington Real Strategies Fund | Paul Attwood and Peter Sorrentino are no longer listed as portfolio managers to the fund. | David Miller and Michael Schoonover will manage the fund. | 10/15 |
| HSUAX | Huntington Situs Fund | Kirk Mentzer and Peter Sorrentino are no longer listed as portfolio managers to the fund. | David Miller and Michael Schoonover will manage the fund. | 10/15 |
| ICLEX | ICON Consumer Staples Fund | Mick Kuehn will no longer serve as a portfolio manager for the fund. | Craig Callahan and Donovan Paul will manage the fund. | 10/15 |
| ICARX | ICON Emerging Markets Fund | Mick Kuehn will no longer serve as a portfolio manager for the fund. | Craig Callahan, Zach Jonson, Donovan Paul and Derek Rollingson will manage the fund. | 10/15 |
| ICTRX | ICON Industrials Fund | Mick Kuehn will no longer serve as a portfolio manager for the fund. | Craig Callahan and Donovan Paul will manage the fund. | 10/15 |
| ICTEX | ICON Information Technology | Mick Kuehn will no longer serve as a portfolio manager for the fund. | Craig Callahan and Donovan Paul will manage the fund. | 10/15 |
| COUAX | Innealta Capital Country Rotation Fund | No one, but . . . | Vito Sciaraffia and Mark Mowrey have joined Gerald Buetow in managing the fund. | 10/15 |
| SROAX | Innealta Capital Sector Rotation Fund | No one, but . . . | Vito Sciaraffia and Mark Mowrey have joined Gerald Buetow in managing the fund. | 10/15 |
| YLDAX | Innealta Capital Tactical Fixed Income Fund | No one, but . . . | Vito Sciaraffia and Mark Mowrey have joined Gerald Buetow in managing the fund. | 10/15 |
| JAAAX | John Hancock Alternative Asset Allocation Fund | Steve Medina will no longer serve as a portfolio manager for the fund, effective January 1, 2016 | Robert Boyda, Marcelle Daher, and Nathan Thooft, CFA will continue as portfolio managers of the fund | 10/15 |
| Various | John Hancock Lifestyle Portfolios, Lifestyle II Portfolios, Retirement Living Portfolios, Retirement Living II Portfolios, and Retirement Choices Portfolios | Steve Medina will no longer serve as a portfolio manager for the fund, effective January 1, 2017 | Robert Boyda, Marcelle Daher, and Nathan Thooft, CFA will continue as portfolio managers of the fund | 10/15 |
| GESOX | Lazard Global Equity Select Portfolio | No one, but . . . | Martin Flood, Louis Florentin-Lee, Andrew Lacey, Patrick Ryan, and Ronald Temple are joined by Barnaby Wilson. | 10/15 |
| LDVAX | Leland Thomson Reuters Venture Capital Index Fund | Justin Lowry and Sean Reichert are no longer listed as portfolio managers to the fund. | David Armstrong, Yash Patel, and Neil Peplinski have taken over management of the fund. | 10/15 |
| MHNAX | Madison High Income Fund | As of January 1, 2015, the fund will be managed by Madison Asset Management. As a result Eric Dobbin Mark Shenkman, Mark Flanagan, Steven Schweitzer, Justin Slatky, and Robert Kricheff will no longer serve as portfolio managers for the fund. | The fund will be managed by Michael Sanders and Allen Olson. | 10/15 |
| MGRIX | Marsico Growth Fund | Kevin Boone is no longer listed as a portfolio manager on the fund. | Thomas Marsico and Coralie Witter remain as managers for the fund. | 10/15 |
| NGUAX | Neuberger Berman Guardian Fund | Mamundi Subhas, Ingrid Dyott, Sajjad Ladiwala, and Arthur Moretti are no longer listed as portfolio managers to the fund. | Charles Kantor will now manage the fund. | 10/15 |
| PXHAX | Pax World High Yield Bond Fund | Mary Austin is no longer listed as a portfolio manager on the fund. | Peter Schwab will join Kent Siefers in managing the fund. | 10/15 |
| LSEAX | Persimmon Long/Short Fund | Contravisory Investment Management is no longer a subadvisor to the fund. David Canal, Philip Noonan, and William Noonan will no longer serve as portfolio managers for the fund. | The rest of the team remains | 10/15 |
| PQDAX | PIMCO Global Dividend Fund | Austin Graff is no longer listed as a portfolio manager on the fund. | Brad Kinkelaar now manages the fund. | 10/15 |
| RHFHX | Royce Heritage Fund | James Harvey is no longer listed as a portfolio manager on the fund. | Steven McBoyle serves as the fund’s lead portfolio manager and Charles Royce manages the Fund with him. | 10/15 |
| RSQVX | RSQ International Equity Fund | Michael Testorf will no longer serve as a portfolio manager for the fund. | Richard Pell and Rudolf-Riad Younes carry on. | 10/15 |
| UMBHX | Scout Small Cap Fund | Thomas Laming no longer serves as a portfolio manager of the fund. | James McBride has assumed lead portfolio manager responsibilities for the fund, with Timothy Miller serving as co-portfolio manager. | 10/15 |
| FMELX | Strategic Advisers Growth Multi-Manager Fund | No one, but . . . | James Fallon, Jonathan Sage, and John Stocks have joined the already extensive team. | 10/15 |
| SUNAX | SunAmerica Commodity Strategy Fund | Stephen Burke, John Pickart, and Wayne Ryan are no longer listed as portfolio managers to the fund. | David Chang and Gregory LeBlanc will manage the fund. | 10/15 |
| ABDCX | The BDC Income Fund | Andrew Kerai is no longer listed as a portfolio manager on the fund. | Gregg Felton and John Stuart will continue managing the fund. | 10/15 |
| TVFVX | Third Avenue Value Fund | Michael Lehmann is no longer listed as a portfolio manager on the fund. | Robert Rewey, Victor Cunningham, and Yang Lie continue to manage the fund. | 10/15 |
| DIVSX | Transamerica Partners Institutional Small Value Fund | Shaun Pedersen, Timothy McCormack, and Michael Vogelzang are no longer listed as portfolio managers to the fund. | James Gaul, David Hanna and Douglas Riley will manage the fund. | 10/15 |
| TSLAX | Transamerica Partners Small Cap Value Fund | James Veers and Michael Vogelzang are no longer listed as portfolio managers to the fund. | James Gaul, David Hanna and Douglas Riley will manage the fund. | 10/15 |
| DVSVX | Transamerica Partners Small Value Fund | Shaun Pedersen, Timothy McCormack, and Michael Vogelzang are no longer listed as portfolio managers to the fund. | James Gaul, David Hanna and Douglas Riley will manage the fund. | 10/15 |
| TSWEX | TS&W Equity Institutional Fund | Paul Ferwerda will no longer serve as a portfolio manager for the fund. | S. Preston Dillard, G. Gary Garland, and Brett Hawkins are the new managers of the fund. | 10/15 |
| WUSAX | Wanger USA | As announced in May, Robert Mohn, has stepped down from his lead portfolio manager role. | William Doyle will remain on the fund | 10/15 |
Manager changes, September 2015
By Chip
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| GASAX | Aberdeen Diversified Alternatives Fund | Allison Mortensen is no longer listed as a portfolio manager on the fund. | Michael Turner joins Richard Fonash in managing the fund. | 9/15 |
| GMAAX | Aberdeen Diversified Income Fund | Allison Mortensen is no longer listed as a portfolio manager on the fund. | Michael Turner joins Richard Fonash in managing the fund. | 9/15 |
| GMMAX | Aberdeen Dynamic Allocation Fund | Allison Mortensen is no longer listed as a portfolio manager on the fund. | Michael Turner joins Richard Fonash in managing the fund. | 9/15 |
| AMGAX | Alger Mid Cap Growth Fund | Brain Schulz is no longer listed as a portfolio manager on the fund. | Ankur Crawford, Teresa McRoberts, Christopher Walsh, Alex Goldman, and Michael Melnyk continue on. | 9/15 |
| FXDAX | Altegris Fixed Income Long Short Fund | James Nimberg has been removed as a portfolio manager of the fund. Additionally, Joe Lu is no longer listed as a portfolio manager on the fund. | Amin Majidi joins Kevin Schweitzer, Anilesh Ahuja, Eric Bundonis, Robert Murphy, Peter Reed, and David Steinbert in managing the fund. | 9/15 |
| ABIRX | American Beacon International Equity Fund | Kevin Durkin will no longer serve as a portfolio manager for the fund. | The rest of the extensive team remains. | 9/15 |
| ABSAX | American Beacon Small Cap Value Fund | E. Clifton Hoover is no longer a manager of the fund | The rest of the extensive team remains. | 9/15 |
| ARSSX | Aristotle Strategic Credit Fund | Michael Hatley is no longer listed as a portfolio manager on the fund. | Douglas Lopez and Terence Reidt will continue to run the fun | 9/15 |
| AARIX | ASTON/Harrison Street Real Estate Fund | Reagan Pratt is no longer listed as a portfolio manager on the fund. | James Kammert will continue on as the sole portfolio manager. | 9/15 |
| AHFAX | Aurora Horizons Fund | Kovitz Investment Group is out as a subadvisor to the fund | The portion of the fund formerly managed by Kovitz has been allocated to the adviser and other subadvisers. | 9/15 |
| BBTBX | Bridge Builder Bond | Douglas Swanson will be taking a leave of absence. | Barbara Miller will assume day-to-day management of the portion of the portfolio allocated to Douglas Swanson. The rest of the team remains. | 9/15 |
| Various | Calamos, various funds | Effective immediately, Gary Black will no longer be a member of the investment team managing any of the series of the Calamos Investment Trust. | The remainder of the teams will continue on. | 9/15 |
| HIIFX | Catalyst/SMH High Income Fund | Morgan Neff will no longer serve as a portfolio manager for the fund. | Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers | 9/15 |
| TRIFX | Catalyst/SMH Total Return Income Fund | Morgan Neff will no longer serve as a portfolio manager for the fund. | Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers | 9/15 |
| CMUAX | Columbia Mid Cap Value Fund | No one, but . . . | Nicolas Janvier joins Jonas Patrikson, Diane Sobin, and David Hoffman on the management team. | 9/15 |
| CMOTX | Context Macro Opportunities Fund | Douglas Dachille is no longer listed as a portfolio manager on the fund. | Mark Alexandridis, David Ho, Mattan Horowitz and Prasad Kadiyala continue to manage the fund. | 9/15 |
| DAREX | Dunham Real Estate Stock Fund | Scott Westphal will no longer serve as a portfolio manager for the fund. | David Wharmby is now the sole portfolio manager. | 9/15 |
| FSCRX | Fidelity Small Cap Discovery Fund | Charles Myers will be taking a leave of absence until the third quarter of 2016. | Derek Janssen has been named interim portfolio manager. | 9/15 |
| FAKSX | Frost Mid Cap Equity Fund | Luther King Capital Management is no longer a subadvisor to the fund. Paul Greenwell, J. Luther King, and Steven Purvis are no longer portfolio managers for the fund. | The advisor takes over management of the fund, with the team of Tom Stringfellow, AB Mendez, and Bob Bambace. | 9/15 |
| HLDAX | Hartford Emerging Markets Local Debt Fund | Tieu-Bich Nguyen will no longer serve as a portfolio manager. | James Valone, Evan Oullette and Michael Henry will remain as portfolio managers for the fund. | 9/15 |
| HSFAX | HSBC Frontier Markets Fund | Andrew Brudenell will no longer serve as a co-portfolio manager to the fund | Chris Turner will continue to serve as portfolio manager to the fund | 9/15 |
| PGBOX | JPMorgan Core Bond Fund | Douglas Swanson will be taking a leave of absence. | Barbara Miller will assume day-to-day management of the portion of the portfolio allocated to Douglas Swanson. The rest of the team remains. | 9/15 |
| KPLCX | KP Large Cap Equity Fund | No one, but . . . | AQR Capital Management and Panagora Asset Management have been added as additional subadvisers. | 9/15 |
| LEOOX | Lazard Enhanced Opportunities Portfolio | Christopher Sferruzzo is no longer listed as a portfolio manager on the fund. | Sean Reynolds and Frank Bianco will continue to run the fund. | 9/15 |
| LEQAX | LoCorr Long/Short Equity Fund | No one, but . . . | Kettle Hill Capital Management has been added as an additional subadviser. Andrew Kurita, of Kettle Hill, has joined the management team. | 9/15 |
| MYHAX | MainStay High Yield Opportunities Fund | From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. | Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. | 9/15 |
| MTRAX | MainStay Income Builder Fund | From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. | Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. | 9/15 |
| MASAX | MainStay Unconstrained Bond Fund | From September 2016 to August 2017, Taylor Wagenseil will provide advisory support to the fund’s management team, but he will not have discretionary investment authority. It’s not clear what will happen in September 2017. | Dan Roberts, Louis Cohen and Michael Kimble will continue to manage the fund. | 9/15 |
| NMIEX | Northern Multi-Manager International Equity Fund | Northern Cross will no longer be a subadvisor to the fund. | The remainder of the extensive team carries on. | 9/15 |
| NMMCX | Northern Multi-Manager Mid Cap Fund | Systematic Financial Management will no longer be a subadvisor to the fund. | Vaughan Nelson Investment will join as a new subadvisor. | 9/15 |
| PXEAX | Pax World Global Environmental Markets Fund | Simon Gottelier is no longer listed as a portfolio manager on the fund. | Bruce Jenkyn-Jones and Hubert Aarts will carry on. | 9/15 |
| FMARX | Rx Tactical Rotation Fund (formerly the Rx MAR Tactical Conservative Fund) | The Board of Trustees approved a change in subadviser, removing BFP Capital Management, and bringing in Newfound Research. As a result, David Haviland will no longer serve as a portfolio manager for the fund. The change has been approved, in writing, by the fund’s sole shareholder. | Corey Hoffstein and Justin Sibears will continue to manage the fund. | 9/15 |
| SMHRX | SMH Representation Trust | Morgan Neff will no longer serve as a portfolio manager for the fund. | Dwayne Moyers and Daniel Rudnitsky will continue to serve as portfolio managers | 9/15 |
| FNAPX | Strategic Advisers Small-Mid Cap Fund | No one, but . . . | AllianceBernstein L.P. has been added as an eleventh subadvisor to the fund. | 9/15 |
| FVSAX | Strategic Advisers Value Fund | Kristina Stookey is no longer listed as a portfolio manager on the fund. | Gopalakrishnan Anantanatarajan has joined the other dozen managers on the team. | 9/15 |
| TSWEX | TS&W Equity Portfolio | Elizabeth Cabell Jennings and Paul Ferwerda are no longer serving as portfolio managers to the fund. | Brett Hawkins, S. Preston Dillard and G. Gary Garland are now managing the fund. | 9/15 |
| VFSVX | Vanguard FTSE All-World ex-US Small-Cap Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Jeffrey Miller takes over management of the fund. | 9/15 |
| VMGAX | Vanguard Mega Cap Growth Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Gerard O’Reilly takes over management of the fund. | 9/15 |
| VMVLX | Vanguard Mega Cap Value Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Gerard O’Reilly takes over management of the fund. | 9/15 |
| VRTGX | Vanguard Russell 2000 Growth Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Walter Nejman takes over management of the fund. | 9/15 |
| VRTIX | Vanguard Russell 2000 Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Walter Nejman takes over management of the fund. | 9/15 |
| VRTVX | Vanguard Russell 2000 Value Index Fund | Michael D. Eyre will no longer serve as a portfolio manager for the fund. | Walter Nejman takes over management of the fund. | 9/15 |
| IEDAX | Voya Large Cap Value Fund | Robert Kloss is no longer listed as a portfolio manager on the fund. | Christopher Corapi, Vincent Costa, and Kristy Finnegan remain on the team. | 9/15 |
| AIMAX | Voya Mid Cap Value Advantage Fund | Robert Kloss is no longer listed as a portfolio manager on the fund. | Christopher Corapi, Vincent Costa, and Kristy Finnegan remain on the team. | 9/15 |
| WAAEX | Wasatch Small Cap Growth Fund | No one, but . . . | Effective February 1, 2016, JB Taylor will be the lead manager of the fund and Jeff Cardon will be a portfolio manager of the fund. | 9/15 |
| WVLEX | Worthington Value Line (formerly Worthington Value Line Equity Advantage Fund) | No one, but . . . | Liane Rosenberg joins Cindy Starke in managing the fund. | 9/15 |