Each month, dozens of funds undergo changes to their management teams; sometimes those changes are minor (one of 13 co-managers has stepped aside) and sometimes they fundamentally change a fund’s prospects (Rajiv Jain’s departure from Virtus EM Opportunities triggered billions in outflows). Among this month’s three dozen changes is the baffling dismissal of two successful teams from BBH International Equity (BBHEX), the arrival of a co-manager for David Herro at Oakmark International (OAKIX) and the removal of the co-manager at two of Tom Marsico’s funds.
Because bond fund managers, traditionally, had made relatively modest impacts of their funds’ absolute returns, Manager Changes typically highlights changes in equity and hybrid funds.
| Ticker | Fund | Out with the old | In with the new | Dt |
| NRFAX | AEW Real Estate Fund | No one, but … | Gina Szymanski will join the portfolio management team of Matthew Troxell, J. Hall Jones and John Garofalo. | 12/16 |
| AGCAX | Arbitrage Credit Opportunities Fund | James Powers will no longer serve as a portfolio manager to the fund. | Gregory Loprete and Robert Ryon will continue to manage the fund. | 12/16 |
| BEQRX | Balter L/S Small Cap Equity Fund | Apis Capital Advisors will no longer serve as a subadvisor to the fund. | The fund’s assets will be managed by the adviser or the remaining subadvisors. | 12/16 |
| BBHEX | BBH International Equity Fund | Walter Scott & Partners Limited and Mondrian Investment Partners Limited will no longer serve as subadvisors to the fund. Odd decision with such a strong fund and long-tenured team. | Select Equity Group will subadvise the fund. | 12/16 |
| CLPAX | Catalyst Exceed Defined Risk Fund, formerly Catalyst/Lyons Hedged Premium Return Fund | In lieu of the planned liquidation, the fund instead undergoes a change in name, objective, and management team. Lyons Wealth Management, LLC will no longer serve as subadvisor of the fund. Alexander Read, Matthew Ferratusco and Brandon Burns will no longer be portfolio managers of the fund. | Joseph Halpern joins Michael Schoonover in managing the fund. | 12/16 |
| DGDAX | Dreyfus Global Dynamic Bond Fund | Jonathan Day is no longer listed as a portfolio manager for the fund. | Parmeshwar Chadha joins Howard Cunningham and Paul Brain in managing the fund. | 12/16 |
| GPGAX | Dreyfus GNMA Fund | Robert Bayston is no longer managing the fund. | Eric Seasholtz and Karen Gemmett have taken over management of the fund. | 12/16 |
| FSRBX | Fidelity Select Banking Portfolio | No one, but … | Matt Reed joins John Sheehy in managing the fund. | 12/16 |
| FSCHX | Fidelity Select Chemicals Portfolio | Mahmoud Sharaf no longer manages the fund | Richard Malnight now manages the fund. | 12/16 |
| FSHOX | Fidelity Select Housing Portfolio | Holger Boerner is no longer listed as a portfolio manager for the fund. | Neil Nabar will manage the fund. | 12/16 |
| FWRLX | Fidelity Select Wireless Portfolio | Kyle Weaver no longer manages the fund | Matthew Drukker and Harlan Carere co-manage the fund. | 12/16 |
| FMSVX | FMC Strategic Value Fund | Edward Lefferman will cease serving as a co-portfolio manager of the fund after 18 years. A strange fund, blinding performance for years but they refused to apply for a ticker symbol. | Paul Patrick will continue to manage the fund. | 12/16 |
| ITHAX | Hartford Capital Appreciation | Effective immediately, David Palmer, W. Michael Reckmeyer, III and Peter Higgins will no longer serve as additional portfolio managers to the fund. | Greg Pool and Tom Simon will serve as additional portfolio managers. | 12/16 |
| HGAAX | Henderson All Asset Fund | Effective January 31, 2017, Chris Paine will no longer serve as a portfolio manager of the fund. | Paul O’Connor will continue to serve. | 12/16 |
| KGSCX | Kalmar “Growth-with-Value” Small Cap Fund | No one, but … | James Gowen joins Ford Draper and Dana Walker in managing the fund. | 12/16 |
| SWOSX | Laudus Small-Cap MarketMasters Fund | No one, but … | Voya Investment Management is added as a new investment manager with Joseph Basset and James Hasso added to the management team. | 12/16 |
| MFOCX | Marsico Focus Fund | Coralie Witter is no longer a portfolio manager for the fund. | Thomas Marsico will continue as the sole manager of the fund. | 12/16 |
| MGRIX | Marsico Growth Fund | Coralie Witter is no longer a portfolio manager for the fund. | Thomas Marsico will continue as the sole manager of the fund. | 12/16 |
| TMFEX | Motley Fool Epic Voyage Fund | William Mann, III is leaving Motley Fool Asset Management to join The Motley Fool, LLC | The rest of the team remains with Bryan Hinmon stepping up to Chief Investment Officer and Senior Portfolio Manager roles. | 12/16 |
| TMFGX | Motley Fool Great America Fund | William Mann, III is leaving Motley Fool Asset Management to join The Motley Fool, LLC | The rest of the team remains with Bryan Hinmon stepping up to Chief Investment Officer and Senior Portfolio Manager roles. | 12/16 |
| FOOLX | Motley Fool Independence Fund | William Mann, III is leaving Motley Fool Asset Management to join The Motley Fool, LLC | The rest of the team remains with Bryan Hinmon stepping up to Chief Investment Officer and Senior Portfolio Manager roles. | 12/16 |
| NOIAX | Natixis Oakmark International Fund | No one, but … | Michael Manelli joins David Herro in managing the fund | 12/16 |
| NTBAX | Navigator Tactical Fixed Income | No one, but … | Jonathan Fiebach joins Robert Bennett, Mason Wev, David Rights and K. Sean Clark in managing the fund. | 12/16 |
| NMFIX | Northern Multi-Manager Global Listed Infrastructure Fund | Brookfield Asset Management is no longer listed as an advisor to the fund. | Maple-Brown Abbott Limited will subadvise a portion of the fund. | 12/16 |
| OAKIX | Oakmark International Fund | No one, but … | Michael Manelli joins David Herro in managing the fund | 12/16 |
| OARDX | Oppenheimer Rising Dividends Fund | No one, but … | Josh Peters joins Manind Govil in managing the fund. | 12/16 |
| PECZX | PIMCO Emerging Markets Corporate Bond | Said Saffari is no longer managing the fund. | The fund is jointly managed by Kofi Bentsi, Mohit Mittal, Yacov Arnopolin and Luke Spajic | 12/16 |
| PECZX | PIMCO Emerging Markets Corporate Bond Fund | Said Saffari is no longer managing the fund. | Kofi Bentsi, Mohit Mittal, Yacov Arnopolin and Luke Spajic will manage the fund. | 12/16 |
| PGMMX | Principal Multi-Manager Equity Long/Short Fund | Columbus Circle Investors is no longer an advisor to the fund. | There’s no change listed to the management team. Not sure what’s up. | 12/16 |
| PPGAX | Putnam Global Sector Fund | The following are no longer managing the fund: Walter Scully, Ferat Ongoren, David Morgan, Vivek Gandhi, Kelsey Chen, Jacquelyne Cavenaugh, Christopher Eitzmann, Greg Kelly, Sheba Alexander, Isabel Buccellati, Di Yao, Neil Desai, Ryan Kauppila, Daniel Schiff and Michael Maguire. | Kathryn Lakin joins Samuel Cox and Aaron Cooper on the management team. | 12/16 |
| LQISX | QS Global Market Neutral Fund | Austin Kairnes is no longer listed as a manager for the fund. | Jacqueline Hurley joins Russell Shtern, Stephen Lanzendorf and Joseph Giroux on the management team. | 12/16 |
| LMISX | QS U.S. Large Cap Equity Fund | Austin Kairnes is no longer listed as a manager for the fund. | Jacqueline Hurley and Russell Shtern join Stephen Lanzendorf on the management team. | 12/16 |
| SANAX | Sandalwood Opportunity Fund | Shelton Capital Management is no longer a subadvisor to the fund. | The management will be handled by the fund’s other subadvisors. | 12/16 |
| SHAAX | Schooner Hedged Alternative Income Fund | Morgan Avitabile will no longer manage the fund. | Anthony Fusco and Gregory Levinson will continue to manage the fund. | 12/16 |
| SCORX | Sextant Core Fund | Bryce Fegley and long-time manager Peter Nielsen will no longer manage this small disappointing fund | Phelps McIlvaine and Christopher Paul were added in December to co-manage the fund. | 12/16 |
| TGLDX | The Tocqueville Gold Fund | No one, but … | Ryan McIntyre joins John Hathaway and Douglas Groh in managing the fund. | 12/16 |
| IMUAX | Transamerica Multi-Manager Alternative Strategies Portfolio | Prat Patel is no longer listed as a portfolio manager for the fund. | Timothy Galbraith is joined by Rishi Goel and James Schaeffer. | 12/16 |
