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Fund Changes - Aug-17
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 35: 8/28/2017-9/1/2017

The PIMCO Income fund ($95.9 billion) will increase its supervisory and administrative fees by 0.05% across all share classes (by 0.11% for Class D shares). Additional PIMCO funds also modify their supervisory and administrative fees and/or advisory fees this week, including the PIMCO Total Return fund ($74.5 billion) and PIMCO All Asset fund ($19.4 billion), among others...The Guggenheim S&P 500 Equal Weight ETF ($13.8 billion) will reduce its management fee from 0.40% to 0.20%...Inbok Song will join the portfolio management team of the Seafarer Overseas Growth and Income fund...Ken Korngeibel and Ryan Snow will join the team managing the Wasatch Small Cap Growth fund, and starting in August, Mike Valentine will help manage the Wasatch Core Growth fund...Northern Trust files the Northern Engage360 fund, which will invest for long-term capital appreciation through a diversified portfolio of global equity securities with market capitalization in all ranges. The fund will be sub-advised by Ariel Investments, Aristotle Capital Management, Denver Investment Advisors, EARNEST Partners, and Strategic Global Advisors, and currently plans to cap expenses at 0.70% (according to its initial registration filing)...Wellington Management and Winslow Capital will no longer sub-advise the USAA Aggressive Growth fund...First Trust registers the First Trust SMID Cap Rising Dividend Achievers ETF, which will track an index composed of the securities of 100 small and mid cap companies with a history of raising their dividends and that exhibit the characteristics to continue to do so in the future...The Invesco High Yield Municipal fund will close to new investors effective October 2, 2017...The Nuveen Real Estate Securities fund will reopen to all new investors effective August 31, 2017, and the Victory RS Small Cap Growth fund will reopen to all investors effective September 11, 2017...In connection with Morgan Stanley’s decision to transition out of index calculation and administration services, the SPDR Morgan Stanley Technology ETF will begin tracking an index sponsored by ICE Data Indices that tracks the performance of publicly traded technology companies, and the fund will change its name to the SPDR NYSE Technology ETF. Previously, the ETF tracked the Morgan Stanley Technology Index which was the first listed broad-market technology barometer dedicated exclusively to the electronics-based technology industry...BlackRock registers the closed-end BlackRock Multi-Sector Opportunities Trust Series I (a feeder fund in a master/feeder structure), which will seek to provide high income and total return through investment in fixed income securities and other financial instruments that pay periodic income, investing across multiple sectors and employing multiple strategies...   MORE>>


Week 34: 8/21/2017-8/25/2017

Vanguard registers the Vanguard Total Corporate Bond ETF, which will track the Bloomberg Barclays U.S. Corporate Bond Index (an index that measures the investment-grade, fixed-rate, taxable corporate bond market) through investment in a mix of Vanguard bond index ETFs, rather than in individual securities held in the index...Dario Castagna will leave the portfolio management team of the Transamerica Asset Allocation risk-based funds...The JPMorgan Undiscovered Managers Behavioral Value fund will reduce its advisory fee from 1.05% to 0.75%...James Cook will join the team managing the JPMorgan International Research Enhanced Equity fund...Van Eck files the VanEck Morningstar Wide Moat fund, which will track the Morningstar Wide Moat Focus Index, comprised of securities issued by companies that Morningstar determines to have sustainable competitive advantages, and selected based, in part, on the ratio of Morningstar’s estimate of fair value of the issuer’s common stock to the price...The newly registered REX Bitcoin Strategy fund and REX Bitcoin Strategy ETF will each seek to provide investors with long exposure to the price movements of bitcoin, and the REX Short Bitcoin Strategy ETF will seek to provide short exposure to the price movements of bitcoin...Twelve JPMorgan funds each add disclosure stating that, as part of its investment process, their advisor will seek to assess the impact of environmental, social, and governance factors on the cash flows of many companies in which it may invest to identify issuers that the advisor believes will be negatively impacted by such factors relative to other issuers..   MORE>>


Week 33: 8/14/2017-8/18/2017

Scott Walker will join the portfolio management team of the MFS Utilities fund, and Vipin Narula will join the team managing the MFS Global Total Return fund (as of June 30, 2018, Pablo De La Mata, Richard Hawkins, and Benjamin Stone will no longer be portfolio managers of the fund)...Eric Sappenfield of Epoch Investment Partners will no longer serve as a portfolio manager of three MainStay funds: the MainStay Epoch Global Equity Yield, MainStay Epoch U.S. Equity Yield, and MainStay Income Builder funds, and the John Hancock Funds III Global Shareholder Yield fund (Epoch will continue to sub-advise the funds)…For AmericanFunds, the payment of 12b-1 service fees to investment dealers for purchases of less than $1 million will now begin accruing immediately after establishment of an account in Class A, C, 529-A, and 529-C shares. Previously, such fees were generally paid beginning 13 months after establishment in these classes. Additionally, certain American Funds will extend the period during which the CDSC will apply from 12 months to 18 months on redemptions of purchases of Class A shares of $1 million or more made without an initial sales charge...Fidelity registers two ETFs which will each track indexes designed to reflect the performance of stocks of large- and mid-cap developed international companies that are either high-dividend paying, in the case of the Fidelity International High Dividend ETF, or have attractive valuations, in the case of the Fidelity International Value Factor ETF...Franklin Templeton files twenty single country (or region-specific) ETFs which will track FTSE Russell indexes...Wells Fargo registers the Wells Fargo International Government Bond fund, which (through a master-feeder structure) will track the Wells Fargo International Government Bond Index, designed to measure the performance of non-U.S. developed market government bonds that have a remaining maturity of at least one year, regardless of optionality...John Hancock proposes the John Hancock Multifactor Small Cap ETF, which will track a smart beta index comprising small-cap U.S. companies and designed using a rules-based methodology maintained by Dimensional Fund Advisors...The merger of Standard Life and Aberdeen closed on August 14, 2017...The Wells Fargo Emerging Growth fund will re-open to new investors effective September 29, 2017...   MORE>>


Week 32: 8/7/2017-8/11/2017

William C. Miller, Jr. will leave the management team of the City National Rochdale Fixed Income Opportunities fund...Columbia re-enters the target date arena with the registration of the Columbia Adaptive Retirement series, which will allocate risk across multiple global asset classes through investment of approximately 80% in two newly registered target risk funds: the Columbia Solutions Aggressive and the Columbia Solutions Conservative portfolios...Legg Mason registers the Western Asset Core Plus Opportunities ETF, which will be actively managed by the same portfolio management team that oversees the Western Asset Core Plus Bond fund ($19.5 billion)...Eaton Vance proposes the Eaton Vance Diversified Credit NextShares, an exchange-traded managed fund which will invest at least 50% in securities or other instruments issued by issuers located in the United States, and at least 25% in a combination of high yield debt securities and senior loans...The Vanguard Long-Term Government Bond Index, Vanguard Intermediate-Term Government Bond Index, and Vanguard Short-Term Government Bond Index funds will each change their target index to a Bloomberg Barclays US Treasury Bond Float Adjusted Index from a Bloomberg Barclays US Government Float Adjusted Index, and will change their names accordingly (the new indexes will focus each fund’s investments on treasury securities and reduce or eliminate each fund’s investments in U.S. government agency securities)...Dennis J. Santos will replace Mike Cervi on the team managing the State Street Institutional Small-Cap Equity fund...Caroline Ritter and David Roeske will no longer help manage the Lyrical U.S. Value Equity fund, leaving Andrew Wellington as the sole portfolio manager to the fund…Five Hartford funds will modify their advisory fee breakpoint schedule, including the Hartford Balanced Income fund ($11.3 billion) which will reduce its advisory fee rate on assets over $10 billion; the Hartford World Bond fund ($3.9 billion) which will lower its fee on assets over $4 billion; and the Hartford Global Capital Appreciation fund ($1 billion) will reduce its fee on assets over $1 billion...   MORE>>


Week 31: 7/31/2017-8/4/2017

Nicola Stafford will replace Peter Dixon on the portfolio management team of the Fidelity Balanced fund, and Adam Kramer will replace Joanna Bewick on the team managing the Fidelity Advisor Strategic Income and Fidelity Strategic Income funds...The Vanguard International Explorer fund will add TimesSquare Capital Management to its advisory team (Schroder and Wellington will continue to help advise the fund), and Magnus Larsson, the Head of International Equity at TimesSquare, will join the fund's portfolio management team...JPMorgan registers five single factor ETFs which will track indexes comprised of U.S. equity securities selected primarily from the constituents of the Russell 1000 Index that best represent the ETF's specific factor characteristics...Various Fidelity Index funds will lower their advisory fees, and multiple funds will reduce the fee paid to Geode for sub-advisory services...The Fidelity Enhanced Index funds (excluding the Fidelity Small Cap Enhanced Index fund) will convert to a master-feeder structure...Christopher Sharpe will no longer serve as lead co-manager of the Fidelity Stock Selector All Cap fund or co-manager of the Fidelity Four in One Index fund; Juliet Ellis will no longer serve as lead portfolio manager of Invesco's portion of the Strategic Advisers Small-Mid Cap the fund; Peter Dixon will no longer serve as a co-manager to the Fidelity Advisor Balanced and Fidelity Series All-Sector Equity funds; Scott Offen will retire and no longer help manage the Fidelity Strategic Dividend & Income fund (Ramona Persaud will assume co-manager responsibilities for Mr. Offen’s portion and Joanna Bewick will leave the fund's management team)...Richard Bodzy will join Robert Brookby to co-manage the Putnam Growth Opportunities and Putnam Multi-Cap Growth funds...Christian Derold will leave the team managing the Morgan Stanley Institutional International Equity fund...Fidelity files the Fidelity Short-Term Bond Index fund, which will seek a high level of current income consistent with preservation of capital through investment in securities included in the Bloomberg Barclays U.S. 1-5 Year Government/Credit Bond Index, investing in both domestic and foreign issuers and maintaining a dollar-weighted average maturity of three years or less...BlackRock registers the iShares U.S. Dividend and Buyback ETF, which will track the Morningstar U.S. Dividend and Buyback Index, and registers the iShares Broad USD High Yield Corporate Bond ETF, which will track the BofA Merrill Lynch U.S. High Yield Constrained Index...Effective September 29, 2017, the T. Rowe Price Global Technology fund will be closed to new investors and new accounts...Effective at the close of business on September 29, 2017, the TIAA-CREF Small-Cap Equity fund will suspend offering its shares to new investors...   MORE>>


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