Every month we track changes to the management teams of equity, alternative and balanced funds, along with a handful of fixed-income ones. Why “a handful”? Because most fixed-income funds are such sedate creatures, with little performance difference between the top quartile funds and the bottom quartile, that the changes are not consequential. Even in the realms we normally cover, the rise of management committees dilutes the significance of any individual’s departure or arrival.
This is another of the months in which the number of funds making changes is relatively large – 55 – but the number making dramatic changes is minimal. Alger Emerging Market’s founding manager, Deborah Medenica, has left and is being replaced by a three-person team. Crow Point Small Cap Growth gets its fourth new management team in a decade. Driehaus, which has a very distinctive and aggressive style, lost the contract to manage two Opus funds. Otherwise, just team tweaks.
| Ticker | Fund | Out with the old | In with the new | Dt |
| AFMCX | Acuitas US Microcap Fund | No one, but . . . | Meros Investment Management, L.P. has been added as another sub-adviser. They join teams from AltraVue Capital, LLC; ClariVest Asset Management, LLC; and Falcon Point Capital | 9/19 |
| AIEMX | Alger Emerging Markets Fund | Deborah Velez Medenica is no longer listed as a portfolio manager for the fund. | Daniel Chung, Gregory Jones, and Pragna Shere will now manage the fund. | 9/19 |
| AAGPX | American Beacon Large Cap Value | No one, but . . . | Effective December 31, 2019, Katherine Cannan, of Massachusetts Financial Services Company will be added as a portfolio manager, joining the rest of the team. | 9/19 |
| CWGIX | American Funds Capital World Growth and Income Fund | Mark Denning is no longer listed as a portfolio manager for the fund. | Sung Lee, L. Alfonso Barroso, David Riley, Joyce Gordon, Alex Sheynkman, Michael Cohen, and Jin Lee will continue to manage the fund. | 9/19 |
| AEPGX | American Funds EuroPacific Growth Fund | Mark Denning is no longer listed as a portfolio manager for the fund. | The eight other team members remain in place. | 9/19 |
| ANEFX | American Funds New Economy Fund | Mark Denning is no longer listed as a portfolio manager for the fund. | Timothery Armour, Claudia Huntington, Harold La, and Caroline Jones will continue to manage the fund. | 9/19 |
| NEWFX | American Funds New World Fund | Mark Denning is no longer listed as a portfolio manager for the fund. | Carl Kawaja, Nicholas Grace, Jonathan Knowles, Christopher Thomsen, Robert Lovelace, Wahid Butt, Winnie Kwan, Bradford Freer, and Steven Backes will continue to manage the fund. | 9/19 |
| ANFLX | Angel Oak Financials Income Fund (formerly known as Angel Oak Flexible Income Fund) | Clayton Triick will no longer serve as a portfolio manager for this fund, moving over to the team at Angel Oak Multi-Strategy Income Fund. | Cheryl Pate joins Johannes Palsson, Navid Abghari, and Sreeniwas Prabhu on the management team. | 9/19 |
| ANGLX | Angel Oak Multi-Strategy Income Fund | No one, but . . . | Clayton Triick joins Berkin Kologlu, Sreeniwas Prabhu, Sam Dunlap, Kin Lee, and Colin McBurnette on the management team. | 9/19 |
| BXMIX | Blackstone Alternative Multi-Strategy Fund | No one, but . . . | Raymond Chan joins Gideon Berger, Min Htoo, Robert Jordan, Ian Morris, Stephen Sullens, and Alberto Santulin on the management team. | 9/19 |
| BAEMX | BMO LGM Emerging Markets Equity Fund | Effective November 26, 2019, Damian Bird will depart LGM Investments Limited and his portfolio management duties. | Irina Hunter and Rishikesh Patel will continue to manage the fund. | 9/19 |
| CAVAX | Catholic Values Equity Fund | Travis Prentice and Montie Weisenberger are no longer listed as portfolio managers for the fund. | Jeff Walkehorst, David McGonigle, Mark Giovanniello, and Eric Brown join the rest of the team in managing the fund. | 9/19 |
| KNG | CBOE Vest S&P 500 Dividend Aristocrats Target Income ETF | Effective immediately, Rachel Ames no longer serves as a Portfolio Manager. | Karan Sood and Howard Rubin continue to serve as portfolio managers of the fund, as they have since its inception. | 9/19 |
| NLGIX | Columbia Global Strategic Equity Fund | Mark Burgess is no longer listed as a portfolio manager for the fund. | William Davies joins Melda Mergen in managing the fund. | 9/19 |
| GAMIX | Crow Point Small-Cap Growth Fund | Tom Norton and Alan Norton no longer serve as portfolio managers of the fund. | Peter DeCaprio and David Cleary will now manage the fund; they are the fund’s fourth new management team in 10 years. | 9/19 |
| PIPEX | Cushing MLP Infrastructure Fund (which at the end of the year changes its name and ticker to Cushing MLP Infrastructure Fund NXGNX) | Effective as of December 1, 2019, Paul Euseppi and John Musgrave depart. | Saket Kumar, Alex Palma and Hari Kusumakar will join long-time manager Jerry Swank. | 9/19 |
| DEDAX | Delaware Emerging Markets Debt Fund | No one, but . . . | Alex Kozhemiakin joins Mansur Rasul and Sean Simmons in managing the fund. | 9/19 |
| DPREX | Delaware Global Listed Real Assets | Damon Andres, Babak Zenouzi, and Scott Hastings are no longer listed as portfolio managers for the fund. | Stefan Löwenthal and Jürgen Wurzer are now managing the fund. | 9/19 |
| FAHDX | Fidelity Advisor High Income Advantage Fun | Harley Lank no longer serves as portfolio manager of the fund. | Brian Chang and Mark Notkin will now manage the fund. | 9/19 |
| FAGIX | Fidelity Capital & Income Fund | No one, but . . . | Brian Chang joins long-time manager Mark Notkin in managing the fund. | 9/19 |
| FMIMX | FMI Common Stock Fund | Matthew J. Goetzinger no longer serves on the team. | Dain C. Tofson has joined Patrick English, John Brandser, Jonathan Bloom, Robert Helf, Benjamin Karek, Andy Ramer, Daniel Sievers, Matthew Sullivan, and Jordan Teschendorf in managing the fund. | 9/19 |
| FMIJX | FMI International Fund | Matthew J. Goetzinger no longer serves on the team. | Dain C. Tofson has joined Patrick English, John Brandser, Jonathan Bloom, Robert Helf, Benjamin Karek, Andy Ramer, Daniel Sievers, Matthew Sullivan, and Jordan Teschendorf in managing the fund. | 9/19 |
| FMIHX | FMI Large Cap Fund | Matthew J. Goetzinger no longer serves on the team. | Dain C. Tofson has joined Patrick English, John Brandser, Jonathan Bloom, Robert Helf, Benjamin Karek, Andy Ramer, Daniel Sievers, Matthew Sullivan, and Jordan Teschendorf in managing the fund. | 9/19 |
| HGXAX | Hartford Global Impact Fund | Eric Rice will leave effective October 3, 2019. | Tara Stilwell will now manage the fund. Both are employees of Wellington Management, which implies continuity going forward. | 9/19 |
| HNRGX | Hennessy BP Energy Fund | Effective as of September 5, 2019, William Woodson “Trip” Rodgers is no longer a manager of the fund. | Benton Cook joins Toby Loftin and Tim Dumois in managing the fund. | 9/19 |
| HEOAX | Highland Long/Short Equity Fund | Effective immediately, Michael McLochlin will no longer serve as a portfolio manager for the fund. | Bradford Heiss and James Dondero will continue to manage the fund. | 9/19 |
| HMEAX | Highland Merger Arbitrage Fund | Effective immediately, Michael McLochlin will no longer serve as a portfolio manager for the fund. | Bradford Heiss, Eric Fritz, and James Dondero will continue to manage the fund. | 9/19 |
| EMIAX | Invesco Oppenheimer Emerging Markets Innovators Fund | Heidi Heikenfeld will no longer serve as a portfolio manager for the fund. | Justin Leverenz will continue to manage the fund. | 9/19 |
| HYLV | IQ S&P High Yield Low Volatility Bond ETF | Dan Roberts will no longer serve as a portfolio manager of the fund. | Joseph Cantwell will join Scott Dolph and Alexandra Wilson-Elizondo in managing the fund. | 9/19 |
| JPHAX | JPMorgan Floating Rate Income Fund | Christopher Musbach will be assuming a new role within J.P. Morgan Investment Management Inc. and will no longer serve as a portfolio manager for the fund. | William Morgan, James Shanahan, Alexander Sammarco, and Michael Schlembach will continue to manage the fund. | 9/19 |
| MTRAX | MainStay Income Builder Fund | Effective January 1, 2020, Dan Roberts will no longer serve as a portfolio manager of the fund. | The rest of the team will continue to manage the fund. | 9/19 |
| MTMAX | MainStay MacKay Total Return Bond Fund | Effective January 1, 2020, Dan Roberts will no longer serve as a portfolio manager of the fund. | The rest of the team will continue to manage the fund. | 9/19 |
| MASAX | MainStay MacKay Unconstrained Bond Fund | Effective January 1, 2020, Dan Roberts will no longer serve as a portfolio manager of the fund. | The rest of the team will continue to manage the fund. | 9/19 |
| EXEYX | Manning & Napier Equity | No one, but . . . | Marc Tommasi joins Christian Andreach, Ebrahim Busheri, and Jay Welles on the management team. | 9/19 |
| EXOSX | Manning & Napier Overseas | Jeffrey Donlon will no longer serve as a portfolio manager for the fund. | Christian Andreach and Jay Wellles will join Marc Tommasi and Ebrahim Busheri on the management team. | 9/19 |
| MNREX | Manning & Napier Real Estate | Michael Magiera will no longer serve as a portfolio manager for the fund. | Elizabeth Mallette, Joseph Rydzynski, and Corey Van Lare will continue to manage the fund. | 9/19 |
| NFACX | Neuberger Berman Focus Fund | No one, but . . . | Hari Ramanan has been added as a portfolio manager, joining Timothy Creedon and David Levine on the management team. | 9/19 |
| NGQIX | Neuberger Berman Integrated Large Cap Fund | Benjamin Segal and Elias Cohen are no longer listed as portfolio managers for the fund. | Jacob Gamerman and Simon Griffiths will now manage the fund. | 9/19 |
| OISC | Opus International Small/Mid Cap ETF | Len Haussler and Adam Eagleston are out, as is Driehaus Capital Management. | John “JD” Gardner and Beckham Wyrick will now manage the fund. | 9/19 |
| OSCV | Opus Small Cap Value Plus ETF | Len Haussler and Adam Eagleston are out, as is Driehaus Capital Management. | John “JD” Gardner and Beckham Wyrick will now manage the fund. | 9/19 |
| OIOAX | Orinda Income Opportunities Fund | Joshua Rowe no longer serves as a portfolio manager for the fund. | Paul Gray and Ian Goltra continue to serve as co-portfolio managers for the fund. | 9/19 |
| OTCRX | Otter Creek Long/Short Opportunity Fund | Michael Winter will no longer serve as a portfolio manager for the fund. | R. Keith Long rejoins Tyler Walling on the management team. Mr.Long originally serves from inception through 2017, then stepped aside. | 9/19 |
| TRLAX | T. Rowe Price Retirement Income 2020 Fund | No one, but . . . | Kimberly DeDominicis will join Jerome Clark and Wyatt Lee on the management team. | 9/19 |
| TBWAX | Thornburg Better World | James Gassman will no longer serve as a portfolio manager for the fund. | Di Zhou will continue to manage the fund. | 9/19 |
| TVLAX | Touchstone Value Fund | Jeff Fahrenbruch no longer serves as a portfolio manager to the fund. | Mark Giambrone, Lewis Ropp, and David Ganucheau continue to serve as portfolio managers of the fund. | 9/19 |
| GUIQX | Victory INCORE Investment Quality Bond Fund | S. Brad Fush and Gregory Oviatt have resigned as portfolio managers of the fund. | Richard Cosul, Edward Goard, and James Kelts will continue to manage the fund. | 9/19 |
| RLDAX | Victory INCORE Low Duration Bond Fund | S. Brad Fush and Gregory Oviatt have resigned as portfolio managers of the fund. | Richard Cosul, Edward Goard, and James Kelts will continue to manage the fund. | 9/19 |
| MUCAX | Victory INCORE Total Return Bond Fund | S. Brad Fush has resigned as portfolio manager of the fund. | Richard Cosul, Edward Goard, and James Kelts will continue to manage the fund. | 9/19 |
| BLHY | Virtus Newfleet Dynamic Credit ETF | Jonathan Stanley no longer serves as a portfolio manager of the fund. | William Eastwood and Eric Hess join David Albrycht and Francesco Ossino on the management team. | 9/19 |
| NFLT | Virtus Newfleet Multi-Sector Bond ETF | Jonathan Stanley no longer serves as a portfolio manager of the fund. | Benjamin Caron joins the team. | 9/19 |
| WSBFX | Walden Balanced Fund (formerly Boston Trust Asset Management Fund) | No one, but . . . | Amy Crandal Kaser and Jason O’Connell joins Domenic Colasacco on the management team. | 9/19 |
| WWLAX | Westwood LargeCap Value Fund | Varun Singh is no longer listed as a portfolio manager for the fund. | William Sheehan joins Scott Lawson, Matthew Lockridge, and Casey Flanagan on the management team. | 9/19 |
| WCGNX | William Blair Mid Cap Growth Fund | No one, but . . . | James Jones joins Robert Lanphier and Daniel Crowe on the management team. | 9/19 |
| WSMNX | William Blair Small-Mid Cap Growth Fund | No one, but . . . | James Jones joins Robert Lanphier and Daniel Crowe on the management team. | 9/19 |
| ZFLAX | Ziegler Senior Floating Rate Fund | No one, but . . . | Roberta Goss joins George Marshman, Gil Tollinchi, and Scott Roberts on the management team. | 9/19 |
