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Fund Changes - May-19
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 20: 5/13/2019-5/17/2019

  • Foster Corwith of Causeway Capital Management will no longer serve as a portfolio manager of the Columbia Multi-Manager International Equity Strategies fund ($1.9 billion), and as previously announced Andrew Strathdee of Baillie Gifford will retire and cease to serve as a portfolio manager for the fund effective June 3, 2019...
  • Effective June 1, 2019, Xiaoting Zhao will join John Dance to co-manage the Fidelity Emerging Asia fund ($1 billion) (John Dance will transition off of the fund effective December 31, 2019, and at that time, Zhao will assume sole portfolio manager responsibilities for the fund)
  • Dimensional files two municipal bond funds: the DFA Selective State Municipal Bond fund, which will invest in investment-grade muni bonds, focusing on states with no personal income tax as well as the state of Utah, and the DFA Oregon Municipal Bond fund, which will invest predominantly in municipal securities issued by Oregon state and local governments and agencies...
  • Columbia registers two new multi-factor ETFs under their Beta Advantage series: the Columbia Research Enhanced Core ETF and Columbia Research Enhanced Value ETF, which will each track an index that reflects a rules-based strategic beta approach to investing in the companies that comprise the Russell 1000 index and Russell 1000 Value index, respectively...
  • The Federated Institutional Prime Obligations fund ($18.3 billion) will liquidate its Automated shares and Trust shares on May 17, 2019, and July 30, 2019, respectively...
  • In connection with the acquisition of OppenheimerFunds by Invesco, the reorganization of each Oppenheimer fund into an Invesco fund will take place effective May 24, 2019...
  • Thomson, Siegel & Walmsley will no longer serve on the sub-advisory team of the BNY Mellon Select Managers Small Cap Value fund ($578 million)...
  • The SEI New Covenant Growth fund ($421 million) will adopt an index fund strategy and begin tracking an index designed to give broad exposure to the U.S. large cap equity market, and Brandywine Global Investment Management, Coho Partners, and Fred Alger Management will no longer help sub-advise the fund, leaving Parametric Portfolio Associates as the fund's sole sub-advisor...
  • The T. Rowe Price Institutional US Structured Research fund ($741 million) will reduce its contractual advisory fee from 0.50% to 0.33%, while the T. Rowe Price Capital Opportunity fund (to be renamed T Rowe Price U.S. Equity Research) ($727 million) will lower its individual fund fee rate from 0.20% to 0.04% (the fund's advisory fee consists of an individual fund fee plus a group fee component)...
  • The BlackRock Balanced Capital fund ($1.1 billion) will revise its front-end sales charge schedule to allow purchases of $250,000 or over (previously, $1 million or over) of Investor A shares to be made without an initial sales charge; and the DWS Total Return Bond fund will also reduce the purchase amount of Class A shares that will qualify to be purchased at NAV from $1 million to $250,000...
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Week 19: 5/6/2019-5/10/2019

  • John Hancock registers the John Hancock Diversified Macro fund, which will use a quant-driven strategy to invest globally, through the use of derivatives, in a broad range of asset classes based on macro fundamental forecasts and targeting an annualized volatility of approximately 8%...
  • Aberdeen files three smart beta Multi Factor ETFs and three actively managed ETFs that will use artificial intelligence to identify patterns in markets and dynamically allocate to five investment style factors, with the goal of generating alpha over time...
  • Expected to close in the fourth quarter of 2019, 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...
  • The Vanguard Long-Term Bond Index fund ($12.1 billion) will begin charging a fee of 0.50% on purchases of all classes other than ETF shares...
  • Several BNY Mellon fixed income funds, including the BNY Mellon AMT-Free Municipal Bond fund ($1 billion), will lower the amount at which purchases of Class A shares will be available without a front-end sales load from $1 million to $250,000...
  • GSO / Blackstone Debt Funds Management and Sage Rock Capital Management will join the sub-advisory team of the Blackstone Alternative Multi-Strategy fund ($7.4 billion), and will employ a relative value strategy and an event-driven strategy, respectively...
  • The Brandes International Equity fund ($719 million) will reduce its advisory fee from 0.80% to 0.75%...
  • Effective July 12, 2019, the AB Intermediate Bond fund ($348 million) will no longer restrict its portfolio to a dollar-weighted average maturity of between three to ten years and an average duration of three to six years, and will change its name to the AB Total Return Bond fund...
  • Alexander Meyer will serve as an additional portfolio manager to three Navigator funds, including the Navigator Tactical Fixed Income fund ($4.4 billion)...
  • Effective April 30, 2019, Foster Corwith of Causeway Capital Management will retire from his position as a portfolio manager for the American Beacon International Equity fund ($2.8 billion)...
  • Christopher Kocinski will join the team managing the Neuberger Berman High Income Bond fund ($2.2 billion)...


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Week 18: 4/29/2019-5/3/2019

  • Finisterre Capital will replace Stone Harbor Investment Partners on the sub-advisory team of the Principal Global Diversified Income fund ($7.7 billion)...
  • River Road Asset Management will begin managing an allocated portion of the Mercer US Small/Mid Cap Equity fund ($812 million), replacing BNY Mellon Asset Management North America Corporation on the fund's sub-advisory team... 
  • The USAA S&P 500 Index fund ($7.7 billion) will change its name to the USAA 500 Index fund and modify its objective to reflect that the fund will track the Victory US Large Cap 500 Index (previously, the fund tracked the S&P 500 Index), while the USAA Extended Market Index fund ($777 million) will change the index it tracks from the Dow Jones U.S. Completion Total Stock Market Index to the Wilshire 4500 Completion Index...
  • Anthony Wile will join the team managing the Old Westbury Strategic Opportunities fund ($5.2 billion), replacing Gregory M. Lester and Edward N. Aw...
  • Adrian Van Poppel, Wendy Casetta, and Bruce R. Johns will replace Lyle J. Fitterer on the portfolio management team for the portion of the Bridge Builder Municipal Bond fund ($5.1 billion) allocated to WellsCap (Fitterer plans to retire from WellsCap on July 1, 2019)...
  • Michael Gomez will no longer help manage four PIMCO bond funds, including the PIMCO Emerging Markets Bond fund ($2.1 billion), where he will be replaced on the portfolio management team by Javier Romo, and the PIMCO Emerging Markets Currency and Short-Term Investments fund ($2.9 billion) and PIMCO Emerging Local Currency & Bond fund ($2.7 billion), where Ismael Orenstein will join the management team...
  • WisdomTree files the actively managed WisdomTree Enhanced Commodity ETF, which intends to provide broad-based exposure to energy, agriculture, industrial metals, and precious metals through investments in futures contracts...
  • The MFS Total Return, MFS Total Return Bond, MFS Diversified Income, and MFS Government Securities funds may now purchase or sell securities on a when-issued, delayed delivery, or forward commitment basis...
  • Morgan Stanley Institutional Discovery fund ($804 million) (formerly Morgan Stanley Institutional Mid Cap Growth fund) will use ESG factors to actively integrate sustainability into its investment process...
  • The Eaton Vance TABS Short-Term Municipal Bond fund ($311 million) will lower its contractual advisory fee by 5 basis points (bp) at each asset level of its breakpoint fee schedule...
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