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Fund Changes - Oct-17
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 43: 10/23/2017-10/27/2017

Julian Potenza will join the team managing the Fidelity Strategic Advisers Short Duration fund ($9.6 billion)...Michael Chang has departed Goldman Sachs to join Vanguard, and will no longer serve as a portfolio manager for the Goldman Sachs High Yield Floating Rate fund ($4.2 billion)...Dimensional Fund Advisors registers the DFA Emerging Markets Sustainability Core 1 fund, which will invest in a broad and diverse group of securities associated with emerging markets, with an emphasis on small cap and value companies, adjusting the composition of the portfolio based on sustainability impact considerations...Liliana Dearth will leave the portfolio management team of the AB International Small Cap fund…MassMutual files the Mass Mutual Select T. Rowe Price Retirement target date series plus eight additional new registrations, all of which will be sub-advised by T. Rowe Price...Direxion registers six Direxion Enhanced ETFs, which will each seek daily leveraged investment results of 125% of the daily performance of their underlying index. Included in the group are ETFs focusing on developed markets, emerging markets, mid cap, real estate, total bond market, and a fund focusing on U.S. Treasury securities that have a remaining maturity of greater than 20 years...Colchester Global Investors will join the sub-advisory team of the SEI Institutional International Trust (SIT) International Fixed Income fund...The board of trustees of The Royce Fund approved contractual investment advisory breakpoint reductions for all of the open-end Royce funds (excluding the Royce Pennsylvania Mutual fund). The fee reductions became effective as of July 1, 2017...   MORE>>


Week 42: 10/16/2017-10/20/2017

American Century registers its first ETFs: the passively managed American Century STOXX U.S. Quality Value ETF, which will track an index comprised of large- and mid-cap companies that have attractive valuation and sustainable income, and also files the actively managed American Century Diversified Corporate Bond ETF, which will invest primarily in investment-grade U.S. dollar denominated corporate debt securities, issued by U.S. and foreign entities, and derivatives (the ETF may invest up to 35% in junk bonds and expects to maintain a weighted average duration of between three and seven years)...Troy Ludgood will transition to a new role with Wells Fargo Asset Management on April 30, 2018, and will no longer help manage the Wells Fargo Core Bond and Wells Fargo Short Duration Government Bond funds (Maulik Bhansali and Jarad Vasquez will be added as portfolio managers to the funds on October 16, 2017)...Kenneth J. McAtamney will replace Stephanie G. Braming on the portfolio management team of the William Blair International Growth and William Blair Institutional International Growth funds...Ashley Fernandes will join Matthew Fruhan to co-manage the Fidelity Mega Cap Stock fund, and Nathan Strik will join John Dowd in managing the Fidelity Select Natural Resources fund...A number of SPDR ETFs (to be renamed SPDR Portfolio ETFs) will lower their advisory fees in amounts ranging from 4 to 48 basis points, including, among others, the SPDR Bloomberg Barclays Short Term Corporate Bond ETF ($3.3 billion) and SPDR Bloomberg Barclays Intermediate Term Corporate Bond ETF ($2.6 billion), which will each lower their fee from 0.12% to 0.07%. Eight of these SPDR ETFs also lower their creation and redemption transaction fees...Lovell Minnick and a group of institutional co-investors will acquire the equity interests in Tortoise Investments, the parent company of Tortoise Capital Advisors and Tortoise Credit Strategies. Earlier this year, Lovell Minnick entered an agreement to acquire CenterSquare Investment Management...YG Partners will leave the sub-advisory team of the Goldman Sachs Multi-Manager Alternatives fund...   MORE>>


Week 41: 10/9/2017-10/13/2017

In January 2018, Christian Correa will join the portfolio management team of the Franklin Mutual Global Discovery fund, and Mandana Hormozi will join the team managing the Franklin Mutual European fund...Fidelity files the Strategic Advisers Tax-Sensitive Short Duration fund, a multi-sub-advised fund which will seek a high level of after-tax income consistent with preservation of capital through primarily investing in U.S. dollar-denominated municipal money market securities and high quality investment-grade municipal debt securities whose interest is exempt from federal income tax...JPMorgan registers the JPMorgan USD Emerging Markets Bond ETF which will track an index comprised of U.S. dollar-denominated sovereign and quasi-sovereign debt securities from emerging markets, selected using a rules-based methodology to represent a diversified set of factor characteristics, filtering for liquidity and for country risk and allocating risk based on credit rating...Dimensional Fund Advisors files the DFA Global Core Plus Fixed Income fund, which will invest directly or through other funds managed by the advisor in U.S. and foreign fixed income securities...Goldman Sachs registers two closed-end feeder funds along with their master portfolio, the Goldman Sachs Private Markets 2018 LLC, which will invest at least 80% in primary commitments to pooled investment vehicles (consisting principally of blind pool vehicles, focused on a diversified set of private equity strategies, which may include middle-market buyout, large buyout, distressed, growth equity, credit, venture capital, and industry focused strategies). The portfolio intends to make commitments to six to eight key portfolio funds by the end of 2018...Michelle J. Picard will leave the team managing the BNY Mellon Mid Cap Multi-Strategy fund (José Muñoz has helped manage Geneva's mid cap growth strategy for the fund since July 2017)...ALPS Advisors proposes the ALPS Disruptive Technologies ETF, which will track the Indxx Disruptive Technologies Index, comprised of domestic and foreign companies using disruptive technologies in each of twelve thematic areas: Healthcare Innovation, Internet of Things, Clean Energy, Smart Grid, Cloud Computing, Data and Analytics, Education, FinTech, Robotics and Artificial Intelligence, Cybersecurity, 3D Printing, and Mobile Payments...Brandes Investment Partners registers their first exchange traded managed fund, the Brandes Value NextSharesBarrow, Hanley, Mewhinney & Strauss will be added as a co-subadvisor of the MassMutual Select Fundamental Value fund, joining Wellington in managing the fund...Federated funds will modify their administrative services fee, which is calculated by applying a breakpoint fee schedule to the aggregated complex level assets. The new administrative fee schedule will lower fees on the first $10 billion of complex level assets but will increase fees on aggregated assets between $20 and $50 billion...   MORE>>


Week 40: 10/2/2017-10/6/2017

Bertrand Cliquet will join the portfolio management team of the Lazard Global Listed Infrastructure fund...Greg L. Tornga will become an additional portfolio manager of the Principal Strategic Asset Management (SAM) funds, and will no longer help manage the Principal Government & High Quality Bond, Principal Income, and Principal Short-Term Income funds...Thomas Reynolds will leave the portfolio management team of the Janus Henderson Small Cap Value fund (to be replaced by Craig Kempler) and will join the team managing the Artisan Mid Cap Value and Artisan Value funds (George O. Sertl, Jr. will transition out of his role managing the Artisan funds)...Fidelity files an institutional municipal money market fund, the Fidelity SAI Municipal Money Market fund, which will have a floating NAV and will be offered exclusively to certain clients of the advisor or its affiliates...BlackRock files the iShares Municipal Bond Index fund, which will track the Bloomberg Barclays U.S. Municipal Index, comprising four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds...Invesco introduces a new target date series (the funds will not charge a management fee and will invest in a combination of actively and passively managed affiliated and unaffiliated underlying funds)...MFS files the MFS Prudent Investor, which will invest globally, allocating between asset classes based on their relative attractiveness, and will normally operate within the following ranges: 50%-90% in equity securities, 10%-30% in debt instruments, and 0%-40% in cash and short-term government securities...Morgan Stanley registers the Morgan Stanley Institutional Global Counterpoint fund, which will invest primarily in established and emerging companies located throughout the world, with market caps within the range of the MSCI All Country World Index. The fund will charge an initial advisory fee of 0.80% and plans to cap total expenses at 1.05% for Class I, 1.40% for Class A, 2.15% for Class C, and 1.00% for Class IS...Exchange Traded Concepts files the InsightShares Military Veterans ETF, which will track an index comprised of large and mid-cap U.S. companies with policies and practices determined to be military friendly (companies showing commitment, effort and success in creating sustainable and meaningful employment opportunities for our nation’s military veterans), and files the InsightShares LGBT Employment Equality ETF, tracking an index comprised of large and mid-cap U.S. companies with workplaces that promote and provide equality for lesbian, gay, bisexual and transgender employees, as indicated by the Human Rights Campaign Foundation’s Corporate Equality Index...   MORE>>


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