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Fund Changes - May-20
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 19: 5/11/2020-5/15/2020

  • BlackRock files fourteen new funds, which include an ESG target date series (the BlackRock LifePath ESG Index target date funds), as well as two ESG international funds, and two managed payout retirement income funds: the BlackRock Retirement Income 2030 and BlackRock Retirement Income 2040 funds...
  • Fidelity files the Strategic Advisers Large Cap fund, which will allocate assets among sub-advisors and underlying funds using proprietary fundamental and quantitative research, considering performance in different market environments, manager experience and investment style, management company infrastructure, costs, asset size, and portfolio turnover...
  • State Street Global Advisors registers the socially conscious SPDR S&P 500 ESG ETF...
  • Effective July 14, 2020, the TIAA-CREF Quant Small-Cap Equity fund ($2.2 billion) will resume offering its shares to new investors...
  • Five First American Money Market funds, including the First American Government Obligations fund ($68.5 billion) and First American Treasury Obligations fund ($18.5 billion) will each reduce or suspend its 12b-1 fee payments in order to maintain a yield of at least 0.00% for their Class A shares, and also for Class D shares of certain funds...
  • Advisory Research will leave the sub-advisory team of the Edward Jones Bridge Builder Small/Mid Cap Value fund ($5 billion)...
  • Delaware will no longer manage a portion of the SEI SIT Emerging Markets Equity fund ($1.5 billion) (no other changes were made to the composition of the fund's sub-advisory team)...
  • The AllianceBernstein Concentrated Growth fund ($721 million) will lower its advisory fee from 0.80% to 0.65%...
  • The Templeton Developing Market fund ($1.2 billion) will seek shareholder approval to operate the fund in a “manager of managers” structure in reliance on an exemptive order from the Securities and Exchange Commission...
  • Effective June 29, 2020, the JPMorgan Global Research Enhanced Index fund ($2.8 billion) will liquidate...
  • Pending shareholder approval, the Franklin Founding Funds Allocation fund ($3.0 billion) will convert to a directly managed allocation fund, and will be renamed the Franklin Global Multi-Asset fund (previously, the fund did not have an advisor and assets were allocated to underlying funds)...
  • The First Trust TCW Opportunistic Fixed Income ETF ($1.9 billion) will change from a diversified to a non-diversified fund and will allow increased investment (previously up to 20% and now up to 50% of its fixed income investments) in non-agency, non-government sponsored entities and privately-issued mortgage-related and other asset-backed securities...
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Week 18: 5/4/2020-5/8/2020

  • Suzanne Henige will replace Greg Savage on the team managing the BlackRock allocated portion of five Bridge Builder funds, including the Bridge Builder International Equity fund ($11.4 billion) among others, and Matthew Lilling will replace Derek Deutsch on the team overseeing the portion of the Bridge Builder Small/Mid Cap Growth fund ($4.3 billion) allocated to ClearBridge Investments...
  • LSV Asset Management and T. Rowe Price Associates will join the investment sub-advisory team of the Bridge Builder Large Cap Value fund ($9.5 billion)...
  • Gabelli registers nine semi-transparent ETFs, several of which will utilize strategies patterned after existing Gabelli funds, while shielding portfolio holdings information...
  • Jake S. Anonson will no longer help manage several Principal funds, including the Principal Global Diversified Income fund ($6 billion) and Principal Diversified Real Asset fund ($3.15 billion), among others...
  • Effective June 5, 2020, the T. Rowe Price Mid-Cap Value fund ($10.4 billion) will re-open to most new investors...
  • The Pax MSCI EAFE ESG Leaders Index fund ($528 million) will modify its advisory fee breakpoint schedule by reducing the rate on average net assets up to $600 million from 0.55% to 0.48%...


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