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Fund Changes - Sep-19
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 39: 9/23/2019-9/27/2019

  • Mark Giambrone will replace Jeff G. Fahrenbruch as a co-portfolio manager for the portion of the Vanguard Windsor II fund ($45.4 billion) allocated to Barrow, Hanley, Mewhinney & Strauss...
  • Brian Chang and Mark Notkin will manage the Fidelity Advisor High Income Advantage fund ($1.7 billion), replacing Harley Lank, the sole portfolio manager to the fund; and Brian Chang will join Mark Notkin to co-manage the Fidelity Capital & Income fund ($11.8 billion)...
  • T. Rowe Price Associates will serve as an additional sub-advisor for the Fidelity Strategic Advisers International fund ($15.73 billion)...
  • Effective November 29, 2019, the MFS International New Discovery fund ($6.9 billion) will close to new investors...
  • Effective January 1, 2020, Dan Roberts will no longer help manage three MainStay funds, including the MainStay Income Builder ($1.5 billion) and MainStay MacKay Total Return Bond fund ($1.3 billion)...
  • Keel Capital will join the sub-advisory team of the TIFF Multi-Asset fund ($2.67 billion)...
  • Parametric Portfolio Associates will join the sub-advisory teams of the GuideStone Value Equity fund ($1.13 billion), GuideStone Growth Equity fund ($1.6 billion), GuideStone Small Cap Equity fund ($539 million), and GuideStone International Equity fund ($1.2 billion)...
  • The JPMorgan Emerging Economies fund ($1.1 billion) and JPMorgan Intrepid America fund ($1.79 billion) will liquidate effective October 24, 2019, and November 8, 2019, respectively...
  • The Schwab Dividend Equity fund ($846 million) will now allow up to 20% of its net assets to be invested in the stocks of publicly traded companies located in countries other than the United States...
  • The Baillie Gifford EAFE fund ($2.65 billion) will be renamed the Baillie Gifford International Growth fund, and will predominantly invest in securities issued by companies located in countries outside the U.S., including a range of developed and emerging market countries instead of companies that are included in the MSCI EAFE Index or whose principal activities are in Europe, Australasia and/or the Far East...
  • The DWS Strategic High Yield Tax-Free fund ($1.2 billion) will lower its advisory fee rate by 6 basis points (bp) at each asset level of its breakpoint fee schedule...
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Week 38: 9/16/2019-9/20/2019

  • Warren N. Koontz Jr. will join the portfolio management team of the PGIM Jennison Equity Income fund ($1.3 billion), which will change its name to the PGIM Jennison Global Equity Income fund and will modify its investment strategy, establishing a 40% minimum investment in foreign securities and altering its investment guidelines in income producing equity or equity-related securities from 65% of total assets to 80% of net assets...
  • BlackRock registers the iShares U.S. Tech Breakthrough Multisector ETF, which will seek to track the investment results of the NYSE FactSet U.S. Tech Breakthrough Index, composed of U.S. companies engaged in cutting edge research and development of products and services in the areas of robotics and artificial intelligence, cyber security, cloud and data tech, financial technology, and genomics and immunology...
  • JPMorgan files the JPMorgan BetaBuilders International Equity ETF, which will seek to track the Morningstar Developed Markets ex-North America Target Market Exposure Index, composed of equity securities from developed countries or regions, including: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom...
  • Federated Investors will acquire certain components of PNC Capital Advisors' investment management business and each PNC fund will reorganize into a corresponding Federated mutual fund effective November 15, 2019...
  • Invesco Asset Management, located in Oxfordshire, UK, will replace Barings as sub-advisor to the Invesco Oppenheimer Real Estate fund ($1 billion)...
  • Wellington Management Company will no longer serve as one of the sub-advisors to the Voya Multi-Manager International Small Cap fund ($154 million)...
  • Christian A. Andreach and Jay M. Welles will replace Jeffrey W. Donlon on the portion of the Bridge Builder International Equity fund ($10.5 billion) allocated to sub-advisor Manning & Napier...
  • Charles D. Averill will leave the management team of the Principal SAM (Strategic Asset Management) target risk funds, including the Principal SAM Balanced fund ($4.5 billion), among other funds...
  • Certain JPMorgan funds, including the JPMorgan Core Bond fund ($32 billion), will add disclosure that as part of its security selection process, environmental, social and governance factors will be evaluated as to whether they could have a material negative or positive impact on the cash flows or risk profiles of many companies in the universe in which the funds may invest...
  • The Parnassus Core Equity fund ($17.4 billion) and Parnassus Mid Cap fund ($4 billion) will become "fossil-fuel free," as each fund will not invest in companies that derive significant revenues from the extraction, exploration, production or refining of fossil fuels...
  • The Principal Overseas fund ($2.7 billion) will lower the fee rate at each breakpoint of its advisory fee schedule by 13 basis points (bp), the Principal SmallCap Growth I fund ($1.9 billion) will reduce its rate at each asset level breakpoint by 22 bp, and the Principal MidCap Growth III fund ($1.1 billion) will lower its fees by 10 bp at each breakpoint. The Principal Equity Income fund ($7.5 billion) will add a new step to its advisory fee breakpoint schedule, reducing the fee rate on assets over $6.5 billion...
  • The SPDR Bloomberg Barclays TIPS ETF ($1.68 billion) will reduce its advisory fee from 0.15% to 0.12% (the fund will change its name to the SPDR Portfolio TIPS ETF effective September 23, 2019)...
  • State Street Global Advisors registers five passively managed SPDR Bloomberg SASB (Sustainability Accounting Standards Board) ESG Select ETFs...
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Week 37: 9/9/2019-9/13/2019

  • Mark E. Denning will no longer serve as a portfolio manager to four American Funds: the Capital World Growth and Income fund ($94.3 billion), EuroPacific Growth fund ($155.6 billion), New World fund ($39.8 billion), and The New Economy fund ($21 billion) (Caroline Jones will replace Denning on the team managing the The New Economy fund)...
  • Effective December 31, 2019, Katherine Cannan of MFS will join the portfolio management team of the American Beacon Large Cap Value fund ($5.3 billion) (effective December 31, 2020, Steven Gorham of MFS will retire and will no longer help manage the fund)...
  • Harbor Capital registers five funds that will be sub-advised by Robeco Institutional Asset Management US. Four of the funds will focus on equity securities with a lower downside risk profile: the Harbor Robeco US Conservative Equities, Harbor Robeco Global Conservative Equities, Harbor Robeco International Conservative Equities, and Harbor Robeco Emerging Markets Conservative Equities. The fifth fund, the Harbor Robeco Emerging Markets Active Equities, will use an active, quant investment strategy to gain exposure to four factors: quality, momentum, and analyst revision factors within a tracking error limit. All of the funds will incorporate the sub-advisor's quantitative ESG analysis into their investment process...
  • Nationwide files the actively-managed Nationwide Risk-Managed Income ETF, which will seek to invest in a portfolio of the stocks included in the Nasdaq-100 Index and an options collar on the Nasdaq-100 Index...
  • MetLife Investment Management and Scout Investments will no longer serve on the sub-advisory team of the Russell Strategic Bond fund ($4 billion); AllianceBernstein and T. Rowe Price Associates will leave the sub-advisory team of the Russell Multi-Asset Growth Strategy fund ($2 billion); Ranger Investment Management will replace Falcon Point Capital on the team managing the Russell US Small Cap Equity fund ($1.5 billion); T. Rowe Price will depart the team managing the Russell Multi-Strategy Income fund ($1.2 billion); Morgan Stanley will no longer help manage the Russell Global Real Estate Securities fund ($872 million); and Hermes Investment Management will join the sub-advisory team of the Russell Unconstrained Total Return fund ($628 million)...
  • The American Century Global Growth fund ($561 million) (to be renamed the American Century Focused Global Growth fund) will shift its portfolio to a more focused strategy, investing in 30 to 50 securities...
  • The BBH Core Select fund ($747 million) will close to investment effective September 20, 2019...
  • Lido Advisors and its affiliate Oakhurst Advisors will acquire First Western Capital Management Company, the investment advisor to the First Western funds (to be named Oakhurst funds effective October 14, 2019)...
  • The primary benchmark of the PIMCO All Asset All Authority fund ($4.96 billion) will change from the S&P 500 Index to the Bloomberg Barclays U.S. TIPS Index...
  • Raymond Chan will join the portfolio management team of the Blackstone Alternative Multi-Strategy fund ($8 billion)...
  • Dain C. Tofson will replace Matthew J. Goetzinger on the team managing three Fiduciary Management, Inc. funds, including the FMI International fund ($7.2 billion) and FMI Large Cap fund ($4.9 billion)...
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Week 36: 9/2/2019-9/6/2019

  • In connection with the promotion of Barbara Miller to a new role as the Global Chief Investment Officer of Customized Bond Portfolios for J.P. Morgan Investment Management, she will no longer serve as lead portfolio manager of the JPMorgan Core Bond fund ($32.15 billion) (Miller will continue to serve as a portfolio manager of the fund until March 31, 2020)...
  • Robert Cook, Thomas Hauser, and Jeffrey Lovell will replace Alexander Sammarco, Christopher Musbach, and Michael Schlembach on the portfolio management team of the JPMorgan High Yield fund ($8.8 billion); and Musbach will assume a new role within J.P. Morgan leading the high yield team for Customized Bond Portfolios and will no longer serve as a portfolio manager for the JPMorgan Floating Rate Income fund ($1.3 billion) (William J. Morgan will continue to help manage the JPMorgan High Yield and JPMorgan Floating Rate Income funds until his retirement effective February 29, 2020)...
  • J.P. Morgan Investment Management will combine its short duration strategy teams under the leadership of Cary Fitzgerald, and Fitzgerald will serve as lead portfolio manager of the JPMorgan Short Duration Bond fund ($3.1 billion) along with Toby Maczka...
  • Franklin Templeton registers the Franklin Blockchain Enabled U.S. Government Money fund, which intends to be a government money market fund (and will not invest in any cryptocurrencies). The fund will maintain a record of share ownership in book form and will also record them on the Stellar network, an electronic distributed ledger using blockchain technology. (At this time, shares of the fund are not currently available for purchase, sale, or transfer from one shareholder to another shareholder on the blockchain or in any secondary trading market)...
  • Goldman Sachs files the Goldman Sachs Income fund, which will invest in a multi-sector portfolio of U.S. and foreign investment grade and non-investment grade fixed income investments of varying maturities...
  • Harbor Capital registers the Harbor Mid Cap fund, which will be sub-advised by EARNEST Partners and will invest primarily in equity securities of approximately 50 to 70 mid cap companies...
  • The Goldman Sachs Asia fund ($70 million) will focus at least 80% of its net assets in issuers economically tied to China, changing its name to the Goldman Sachs China Equity fund...
  • Effective November 8, 2019, the Cohen & Steers Real Estate Securities fund ($6.46 billion) will close to new investors...
  • Clayton Triick will join the portfolio management team of the Angel Oak Multi-Strategy Income fund ($7.7 billion)...
  • Michael Goldstein will no longer help manage the Goldman Sachs High Yield fund ($2.2 billion) and the Goldman Sachs High Yield Floating Rate fund ($2.2 billion)...
  • Carol L. Flynn will retire and will no longer serve on the team managing the DWS Strategic High Yield Tax-Free fund ($1.15 billion)...
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