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Week 39: 9/23/2024- 9/27/2024Week 38: 9/16/2024- 9/20/2024- JPMorgan Investment Management and Fidelity Diversifying Solutions join the sub-advisory team of the Strategic Advisers International fund ($23.6B)
- BlackRock High Yield Municipal fund ($1.7B) will be converted into the newly created iShares High Yield Municipal Active ETF
- Matthew Toms of Voya will leave the management team of Columbia Multi-Manager Total Return Bond Strategies fund ($13.3B)
- TCW/MetWest and Coller Private Market Secondaries Advisors each file private credit funds: the TCW Private Asset Income fund, an interval fund which will invest in private credit including direct and indirect investments in privately originated debt investments collateralized by financial or physical assets, consumer finance, and commercial finance and receivables, and the tender offer Coller Private Credit Secondaries fund which will invest in private credit acquired through special purpose fund structures
- First Trust files the tender offer FT Vest Rising Dividend Achiever Total Return fund, which intends to pursue a hedged equity investment strategy by investing in U.S. exchange traded securities contained in the NASDAQ US Rising Dividend Achievers Index, mitigating risk of loss by purchasing a hedge against the S&P 500 index, and producing income with an annual target net income objective of 15%
- MassMutual plans to liquidate sixteen funds, including the MM Equity Asset fund ($316M) and each of its MassMutual RetireSMART by JPMorgan target date funds, effective in January 2025
MORE>>Week 37: 9/9/2024- 9/13/2024- State Street Global Advisors registers the actively managed SPDR SSGA Apollo IG Public & Private Credit ETF, which will invest in public credit related investments, and private credit investments sourced by Apollo Global Securities, who has contractually agreed to provide intra-day, executable firm bids on such investments
- Virtus Investment Advisers and BondBloxx Investment Management each file a private credit CLO exchange-traded fund: the Virtus Seix AAA Private Credit CLO ETF and the BondBloxx Private Credit CLO ETF, respectively
- Thomas Crowley will join the team managing the MFS Value fund ($61.7B) at the end of 2024, as MFS veteran Nevin Chitkara announces his intention to retire on May 1, 2026
- Western Asset Management Company and Western Asset Company Limited will no longer be a part of the sub-advisory teams of several SEI and Russell funds, including the SEI SIIT Core Fixed Income fund ($8.2B) and Russell Strategic Bond fund ($2.1B)
- OT Research will join the sub-advisory team of the Blackstone Alternative Multi-Strategy fund ($3.7B)
- Stephen Bartolini will join the teams managing three American Century funds, including the American Century Global Bond fund ($3.3B)
MORE>>Week 36: 9/2/2024- 9/6/2024- Franklin files multiple portfolio changes: Nicholas P.B. Getaz will no longer co-manage the Franklin Rising Dividends fund ($27.9B), Anthony Hardy will help manage the Franklin Growth Opportunities fund ($4.5B), and Jennifer Chen will join the team managing the Franklin Small-Mid Cap Growth fund ($3.8B)
- Nuveen Asset Management will no longer sub-advise the GS Multi-Manager Non Core Fixed Income fund ($1.1B)
- Capital Research and Management registers the Capital Group US Small and Mid Cap ETF
- M83 Investment Group files the 83 Investment Group Income tender offer fund, which will invest primarily in global privately held investment vehicles managed by private fund managers that pursue various credit-related strategies, and will utilize an investment criterion in choosing private funds with the following key characteristics: resiliency, contractual cash flows, short duration, downside protection, and varied return drivers
- Forty-one YieldMax single stock ETFs, including the YieldMax NVDA Option Income Strategy ETF ($973 M), may now sell a credit call spread instead of a call option, potentially boosting upside participation and total return
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