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Fund Changes - Dec-17
 Fund Changes
 Weeklies History:

Fund Changes Weekly

Week 50: 12/11/2017-12/15/2017

Last week we saw Sean Corcoran replacing William Irving on the portfolio management team of a number of Fidelity funds, and this week we learn Corcoran will replace Irving on the team managing the $36 billion Strategic Advisers Core Income fund...Monali Vora and Aron Kershner of Goldman Sachs's Quantitative Investment Strategies team will now manage dividend-paying investments for the Goldman Sachs Rising Dividend Growth fund, while sub-advisor Dividend Assets Capital will continue to manage the fund’s investments in master limited partnerships (Dividend Assets Capital will receive a sub-advisory fee at the annual rate of 0.50% of the average daily net assets of the fund's MLP sleeve)...Bessemer Investment Management proposes the Old Westbury All Cap ESG fund, its first new registration since 2007, and first fund with a focus on environmental, social, and governance criteria...Goldman Sachs registers the Goldman Sachs Small Cap Growth fund (which will be managed by Steven M. Barry, who helps oversee the $2.3 billion Goldman Sachs Small/Mid Cap Growth fund) and also files the Goldman Sachs JUST U.S. Large Cap Equity ETF, which will track an index designed to deliver exposure to equity securities of large cap U.S. issuers that engage in “just business behavior," which takes into account how they treat their workers, customers, shareholders, the environment, and communities they interact with, as well as their commitment to job creation and making quality and beneficial products...First Trust files four ETFs that will seek to provide either long or short exposure to the price movements of bitcoin instruments, and Rafferty files the Direxion Bitcoin ETF, which will seek to provide total return that exceeds that of bitcoin futures contracts over a complete market cycle...Andrew Watts will join the team managing the Vanguard Convertible Securities fund...Cerebellum Capital will serve as an additional discretionary sub-advisor to the Blackstone Alternative Multi-Strategy fund...Alcentra NY will begin sub-advising a portion of the City National Rochdale Fixed Income Opportunities fund...The AMG TimesSquare Mid Cap Growth and AMG TimesSquare Small Cap Growth funds will each reduce its management fee from 0.85% to 0.79%...Wells Capital Management will join the sub-advisory team of the SEI Tax Exempt Trust (STET) Tax-Advantaged Income fund...Goldman Sachs will reinvent its Goldman Sachs Focused International Equity fund as an ESG fund, and will no longer limit its investment to approximately 40 companies (the fund's new name will reflect these changes)...   MORE>>

Week 49: 12/4/2017-12/8/2017

Sean Corcoran will replace William Irving on the portfolio management team of a number of Fidelity funds, including the Fidelity Advisor Strategic Income, Fidelity Strategic Income, Fidelity GNMA, and Fidelity Government Income funds, among others...BlackRock registers the actively-managed iShares Bloomberg Roll Select Broad Commodity ETF, which will seek exposure on a total return basis to a diversified group of commodities through investment in exchange-traded futures contracts on the Bloomberg Roll Select Commodity Index and expects to roll out of existing positions and establish new positions in index futures on an ongoing basis...John Hancock registers the John Hancock Diversified Real Assets fund, which will seek long-term total return in excess of inflation through investment worldwide in securities of real asset companies, such as real estate companies, natural resource companies, publicly-listed utility companies, infrastructure, telecommunications and transportation sectors, master limited partnerships, and agriculture and timber companies...Columbia files the Columbia Overseas Core fund, which will invest in equity securities of foreign companies that are believed to be undervalued, growth opportunities, or both, and will be managed by Fred Copper and Daisuke Nomoto, who currently manage the $945 million Columbia Overseas Value fund...Andrew A. Johnson, a co-portfolio manager to several fixed income Neuberger Berman funds, including the Neuberger Berman Strategic Income fund, will retire on or about December 31, 2018 (Ashok Bhatia will replace Johnson on the Strategic Income fund's portfolio management team)...Julian McManus and Garth Yettick will join George P. Maris in managing the Janus Henderson Global Select and Janus Henderson Overseas funds...Aaron S. Dunn will join Edward J. Perkin as a portfolio manager to the Eaton Vance Large-Cap Value fund, replacing John D. Crowley...The Franklin Income fund adds disclosure stating that is may buy and sell ETFs and options on ETFs...The BlackRock Global Allocation and BlackRock Total Return funds will not impose an initial sales charge on investments of $250,000 or more (previously, $1,000,000 or more) in Investor A shares...The Prudential Absolute Return Bond fund, along with several other Prudential funds, will reduce its advisory and sub-advisory fees...   MORE>>

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