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Fund Changes - Apr-17
 Fund Changes
 Weeklies History:

Fund Changes Weekly

Week 17: 4/24/2017-4/28/2017

Schwab reorganizes the portfolio management teams of its Equity Index funds, Fundamental Index funds, Equity ETFs, and Fundamental Index ETFs, with Agnes Hong no longer helping to manage the funds and Christopher Bliss, the Head of the Passive Equity Team, joining each fund's management team, among other changes...PIMCO will replace Janus on the sub-advisory team of the Bridge Builder Core Plus Bond fund...Neuberger Berman registers the Neuberger Berman Core Plus fund, which will invest in a diversified portfolio of fixed rate and floating rate debt, and debt that may not pay interest at the time of issuance, issued by domestic and foreign governments, corporate entities, and trust structures...Western Asset Management Company will join the sub-advisory team of the SEI Tax Exempt Trust Short Duration Municipal fund...Dalton Investments and Longhorn Capital Partners will join the sub-advisory team of the Dreyfus Select Managers Long/Short fund, and Owl Creek Asset Management will no longer help sub-advise fund...Morgan Stanley Investment Management will no longer be allocated a portion of the Strategic Advisers Growth and Strategic Advisers Growth Multi-Manager funds' assets to manage...The PureFunds ISE Cyber Security ETF will reduce its management fee from an annual rate of 0.75% to 0.60% of the fund's average daily net assets...   MORE>>

Week 16: 4/17/2017-4/21/2017

Sam Chamovitz and Salim Hart will join the team managing the Fidelity Low-Priced Stock fund, while James Harmon will no longer serve as a portfolio manager to the fund; and Robert Stansky will join the portfolio management team of the Fidelity Advisor Stock Selector Mid Cap fund...Invesco PowerShares registers the PowerShares S&P 500 Minimum Volatility ETF, which will track an index that seeks to achieve lower total risk than the S&P 500 Index using a managed volatility strategy (weighting its constituents so that stocks with lower volatility constitute a greater percentage of the underlying index), and also files the PowerShares Russell 1000 Enhanced Equal Weight ETF, which will track an index composed of securities in the Russell 1000 Index exhibiting upward price momentum and fair valuations...Legg Mason registers the Legg Mason Small-Cap Quality Value ETF, which will track an index, created by the fund's affiliated sub-advisor Royce & Associates, that will use quality, value, and momentum factors to weight stocks...Wells Capital Management will replace Global Index Advisors as sub-advisor to the Wells Fargo Dow Jones Target date funds (to be renamed Wells Fargo Target date funds), and each of the funds will no longer track a Dow Jones Target date index but instead will invest in underlying funds intended to provide exposure to equity and fixed income asset classes. The funds will also modify their glide paths, gradually reducing equity allocation to 40% by retirement and the lowest equity allocation will be 30%...In connection with the acquisition by Touchstone Advisors of certain assets related to Sentinel’s business of providing investment advisory services to the Sentinel funds, nine Sentinel funds will reorganize into existing or newly created Touchstone funds, and subsequently will be advised by Touchstone (seven of the funds will be sub-advised by Fort Washington Investment Advisors, one will be sub-advised by ClearArc Capital, and another by Rockefeller & Co.)...UMB Financial Corporation, the parent company of Scout Investments, the investment advisor to the Scout funds, announced that it signed a definitive agreement to sell Scout Investments to Carillon Tower Advisers...Adam C. Liebhoff will no longer serve as a co-portfolio manager of the Loomis Sayles Value fund, leaving Arthur J. Barry as the sole portfolio manager to the fund...In light of additional information provided by Charles Schwab Investment Management, it was decided to liquidate the Schwab Short-Term Bond Market fund and Schwab Total Bond Market fund on or about August 18, 2017, instead of reorganizing the funds into the Schwab Short-Term Bond Index fund and Schwab U.S. Aggregate Bond Index fund, respectively, as previously planned...First Trust files six smart beta ETFs which will each track a corresponding Nasdaq Riskalyze Equity Select Index...   MORE>>

Week 15: 4/10/2017-4/14/2017

Christopher M. Chapman will join the portfolio management team of the John Hancock Funds II Strategic Income Opportunities fund and John Hancock Income fund...Barrow Hanley Mewhinney & Strauss will join the sub-advisory team of the SEI Institutional Investments Trust (SIIT) World Equity Ex-US fund, and Coho Partners and Fiera Capital will join the team of the SEI SIIT Large Cap fund...TPH Asset Management and Southeastern Asset Management will no longer serve on the sub-advisory team of the TIFF Multi-Asset fund, and Green Court Capital Management will replace Neuberger Berman Asia Limited on the fund's team (Green Court is a newly formed investment advisory firm established by the Greater China Investment team that is part of Neuberger Berman Asia Limited)...Goldman Sachs registers the Goldman Sachs Equal Weight U.S. Large Cap Equity ETF, which will track the Solactive Equal Weight US Large Cap Index, an equal-weight version of the Solactive US Large Cap Index, a market cap-weighted index that includes equity securities of the 500 largest U.S. companies...AllianceBernstein adds disclosure stating that Class C shares will automatically convert to Class A shares after ten years...The Victory Sycamore Established Value fund will close to new investors effective June 30, 2017...American Beacon Advisors reached a definitive agreement to acquire a controlling interest of Shapiro Capital Management ($4.3 B AUM), an Atlanta based investment management firm...John Paul Lech of OppenheimerFunds will no longer co-manage the Transamerica Developing Markets Equity fund, leaving Justin Leverenz, also of OppenheimerFunds, as the sole portfolio manager to the fund...Many fund companies add disclosure clarifying that the availability of certain sales charge waivers and discounts will depend on whether shares are purchased directly from the fund or through a financial intermediary, and that effective April 10, 2017, shareholders purchasing Class A shares through a Merrill Lynch platform or account will be eligible only for certain front-end load waivers and discounts, which are outlined in the filings. The filings also clarify the contingent deferred sales charge waiver policies specific to Class A, Class B, and/or Class C shares available through Merrill Lynch...   MORE>>

Week 14: 4/3/2017-4/7/2017

James Morrow will retire as of December 31, 2017, and will no longer manage the Fidelity Series Equity-Income fund (Sean Gavin will join the fund effective April 2017) and the Fidelity Equity-Income fund (Ramona Persaud will assume lead portfolio manager responsibilities at that time and will continue to manage the fund with Adam Kramer); John Avery will transition off the Fidelity Fund on June 30, 2017, while Jean Park will begin co-managing the fund effective April 2017...Frederick Sabetta will retire from J.P. Morgan Investment Management effective January 1, 2018, and will no longer serve on the portfolio management team of the JPMorgan Core Plus Bond fund, and Nicholas Horne and Jonathan Ingram will join Zenah Shuhaiber on the portfolio management team of the JPMorgan Intrepid International fund, replacing Sandeep Bhargava...BlackRock registers two emerging markets bond funds, one which will invest in bonds that are denominated in the local currency, and also registers three ETFs: two iShares ESG USD Corporate Bond ETFs and an inflation hedged corporate bond ETF...Hartford files the actively managed Hartford Total Return Bond ETF, which will be managed by the same portfolio management team overseeing the $2.1 billion Hartford Total Return Bond fund...As of June 30, 2018, Richard Hawkins will retire from the portfolio management teams of several MFS funds, including the MFS Global Total Return, MFS Global Bond, MFS Corporate Bond (Alexander Mackey will begin co-managing the fund on April 5, 2017), and MFS Total Return (Robert Persons will join the team managing the fund on April 5, 2017)...Virtus registers the Virtus Glovista Emerging Markets ETF, which will be sub-advised by Glovista Investments and will track an index designed to identify the top 10 most attractive “large liquid emerging market countries”...Effective June 30, 2017, the AQR Long-Short Equity fund and AQR Equity Market Neutral fund will be closed to new investors...   MORE>>

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