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Fund Changes - Oct-19
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 44: 10/28/2019-11/1/2019

  • As previously announced, Joseph Welsh is planning to retire as a portfolio manager of the Invesco Oppenheimer Senior Floating Rate fund ($9.6 billion) effective December 31, 2019. Anthony Arnese will join David Lukkes to co-manage the fund starting in November...
  • Andre Messier will join Maura Walsh as a portfolio manager to the Fidelity North Carolina Capital Management Trust: Term portfolio ($4.1 billion), replacing Kevin Gaffney...
  • Effective April 30, 2020, Richard Sneller will retire from Baillie Gifford Overseas Limited and will no longer help manage the Baillie Gifford Emerging Markets fund ($3.1 billion) (Ewan Markson-Brown will join the team managing the fund starting October 2019)...
  • Oleg Nusinzon will no longer serve on the portfolio management team of the KP Large Cap Equity fund ($3 billion)...
  • BNY Mellon Investment Adviser will seek to place a majority of the aggregate dollar value of purchases and sales orders for portfolio securities of the Dreyfus Government Securities Cash Management fund ($4.6 billion) with dealers that are owned by minorities, women, disabled persons, veterans, and members of other qualified and recognized diversity and inclusion groups...
  • BlackRock registers nine iShares iBonds Term Treasury ETFs, which will each seek to track the investment results of an index composed of U.S. Treasury bonds maturing in years ranging from 2021 to 2029...
  • Amundi Pioneer Asset Management registers the closed-end Pioneer Multi-Asset Income Trust, which will have the flexibility to invest in a broad range of income-producing investments, including both debt securities and equity securities of issuers located throughout the world, including in emerging markets...
  • DWS files the Xtrackers MSCI Kokusai Equity ETF, which will  track the performance of equity markets in developed markets (excluding Japan)...
  • Effective in February 2020, the sub-advisor of the Nuveen Winslow Large Cap Growth fund ($723 million) will incorporate an evaluation of a company’s performance among certain environmental, social, and governance factors into its existing investment selection process (based on data provided by independent ESG research vendors), and will change its name to the Nuveen Winslow Large-Cap Growth ESG fund...
  • The First Trust Low Duration Opportunities ETF's ($3.6 billion) requirement to invest at least 80% of net assets in mortgage-related investments will be reduced to 60%, among other changes to the fund's strategy...
  • Certain MFS funds add to their investment strategy that they may also consider environmental, social, and governance (ESG) factors in their fundamental investment analysis...
  • Seven Delaware municipal bond funds, including the Delaware National High-Yield Municipal Bond fund ($1.4 billion), will no longer charge a front-end sales load on purchases of Class A shares of $250,000 or more (previously, $1 million or more)...
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Week 43: 10/21/2019-10/25/2019

  • Neil Dhruv will join Paul Varunok to co-manage the Franklin U.S. Government Securities fund ($5.2 billion)...
  • Mitchell Handa will leave the team managing seven PIMCO bond ETFs, including the PIMCO 0-5 Year High Yield Corporate Bond Index ETF ($1.6 billion)...
  • Greg W. Golden will no longer help manage the Wells Fargo Disciplined U.S. Core fund ($1 billion)...
  • In connection with Knights of Columbus Asset Advisors, the advisor to the Catholic Investor funds, acquiring the assets of Boston Advisors' institutional client business, Boston Advisors is now a division of the advisor and will no longer provide sub-advisory services to the funds...
  • The Templeton Foreign fund ($4.4 billion), Templeton International Climate Change fund, Templeton Global Balanced fund ($1.1 billion), Templeton Global Smaller Companies fund ($1.2 billion), and Templeton Growth Fund, Inc. ($11.2 billion) each add disclosure stating that the fund may use a variety of equity-related derivatives, which may include equity index futures, for various purposes including enhancing fund returns, increasing liquidity, and gaining exposure to particular markets in more efficient or less expensive ways...
  • To gain exposure to investment disciplines and categories, the American Century Strategic Allocation target risk funds will modify their strategies to allow investment in varying combinations of other affiliated mutual funds and ETFs...
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Week 42: 10/14/2019-10/18/2019

  • Ryan P. McCann will leave the portfolio management team of the Principal Income ($4.9 billion) and Principal Short-Term Income ($5 billion) funds, and Bryan C. Davis and Zach Gassmann will replace John R. Friedl, Ryan P. McCann, and Scott J. Peterson as portfolio managers to the Principal Government & High Quality Bond fund ($1.6 billion)...
  • Franklin Templeton proposes three actively managed ETFs: the Franklin Disruptive Commerce ETF, Franklin Genomic Discovery ETF, and Franklin Intelligent Machines ETF...
  • Putnam registers the Putnam Retirement Advantage target date funds, which will invest in affiliated underlying funds...
  • First Trust files the First Trust Vivaldi Merger Arbitrage ETF, which will establish long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition...
  • UBS files the UBS Select ESG Prime Preferred, UBS Select ESG Prime Investor, and UBS Select ESG Prime Institutional funds, each a money market portfolio with a floating NAV that will incorporate fundamental sustainability factors into its investment process...
  • Manning & Napier Advisors will no longer serve on the sub-advisory team of the Bridge Builder International Equity fund ($10.9 billion)...
  • The 10 sole shareholders of each American Century NT Core Equity Plus fund ($468 million) and American Century NT Small Company fund ($378 million) have notified the funds of their intention to redeem the entirety of their investment in the funds...
  • The Janus Henderson Short Duration Income ETF ($1 billion) will remove the use of certain derivative instruments from its investment strategies, including the use of put and call options on indices, currency futures, and total return swaps...
  • The Transamerica Capital Growth fund ($1.9 billion) will reduce its advisory fee, as well as its sub-advisory fee paid to Morgan Stanley Investment Management...
  • Erik A. Turenchalk will replace Shri Singhvi on the team managing three Alliance Bernstein funds, including the AB Discovery Value fund ($3 billion) and Small Cap Core fund ($936 million)...
  • Morgan M. Moriarty will join Jeffrey A. Geller as a portfolio manager of the JPMorgan Diversified fund ($1 billion), replacing Nicole Goldberger...


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Week 41: 10/7/2019-10/11/2019

  • Effective April 15, 2021, David Antonelli will no longer serve on the portfolio management team of three MFS funds, including the MFS International Growth fund ($9.6 billion) and MFS International New Discovery fund ($7 billion)...
  • Kurt Wagner is planning to retire from Loomis, Sayles & Company and will no longer serve as a portfolio manager of the Columbia Multi-Manager Total Return Bond Strategies fund ($8.4 billion) effective June 30, 2020...
  • Morgan Stanley registers the Morgan Stanley Institutional Senior Loan portfolio, which plans to invest in income-producing loans that hold a senior position in the capital structure of U.S. and foreign corporations...
  • First Trust Advisors files the First Trust Multi-Manager Large Growth ETF, which will utilize a multi-manager approach to provide exposure to the large cap growth segment of the equity market through the blending of multiple portfolio management teams...
  • ADG Capital Management will leave the sub-advisory team of the Goldman Sachs Multi-Manager Alternatives fund ($273 million)...
  • The JPMorgan International Advantage fund ($2 billion) will utilize an investment process evaluating value, quality, and momentum characteristics (previously, evaluating growth and value factors)...
  • Inbok Song will leave the management team of the Seafarer Overseas Growth and Income fund ($1.5 billion)...
  • Sunil Asnani will no longer help manage the Matthews India fund ($1.2 billion), among other funds...
  • Effective January 1, 2021, Jerome Clark will step down as a portfolio manager to the MassMutual Select T Rowe Price Retirement target date funds, and Kimberly E. DeDominicis and Andrew Jacobs van Merlen will join Wyatt A. Lee to co-manage the funds on October 1, 2019, and January 1, 2020, respectively...
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Week 40: 9/30/2019-10/4/2019

  • Lara Pellini will help manage the American Funds EuroPacific Growth fund ($158 billion), Leo Hee will join the team managing the Capital World Growth and Income fund ($95 billion), and Tomonori Tani, Lisa Thompson, and Kirstie Spence will serve as additional portfolio managers to the New World fund ($40 billion), while Steven G. Backes will depart the fund's team December 1, 2019...
  • Kimberly E. DeDominicis will join the portfolio management team of the T. Rowe Price Retirement and T. Rowe Price Retirement I target date funds...
  • Amritha Kasturirangan and Nayan Sheth will join the team managing the Franklin Rising Dividends fund ($21 billion), and Donald G. Taylor will no longer help manage the fund...
  • Stephen Mortimer and Gregory J. Garabedian will replace Nicolas Choumenkovitch and Michael Carmen as additional portfolio managers to the Hartford Capital Appreciation fund ($7 billion)...
  • BNY Mellon files its first ETFs, including three domestic equity, two foreign equity, and three fixed income ETFs (each of which will track an index yet to be disclosed)...
  • Morgan Stanley registers the Morgan Stanley Institutional Developing Opportunity fund, which will use fundamental analysis to seek high quality companies within developing markets that the advisor believes are undervalued...
  • Transamerica files the Transamerica Emerging Markets Opportunities fund, which will invest primarily in emerging market companies that the sub-advisor Wellington Management Company believes have above-average potential for capital appreciation based on its “bottom up” fundamental research and analysis...
  • Sorin Capital Management will no longer serve on the sub-advisory team of the Blackstone Alternative Multi-Strategy fund ($8 billion)...
  • The Morgan Stanley Institutional Liquidity Money Market fund ($3.1 billion) will begin incorporating ESG factors into the fund's investment selection process, and will be renamed the Morgan Stanley Institutional Liquidity ESG Money Market fund...
  • The Wells Fargo 100% Treasury Money Market fund will lower its advisory fee rate by 5 basis points (bp) at each asset level of its breakpoint fee schedule...
  • Federated short term bond funds (Federated Ultrashort Bond, Federated Municipal Ultrashort, Federated Short Term Income, Federated Floating Rate Strategic Income, Federated Government UltraShort Duration, Federated Short-Intermediate Duration Municipal Trust, and Federated Short Intermediate Total Return Bond funds) will lower or eliminate their Class A front end sales charges, 12b-1 fees, and non-12b-1 shareholder servicing fees (also Service Class 12b-1 fees for Federated Ultrashort Bond, Federated Municipal Ultrashort, Federated Short-Intermediate Duration Municipal Trust, and Federated Short Intermediate Total Return Bond funds)...
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