Each month, many funds undertake partial or complete changes in their management teams. Most are inconsequential, because they involve marginal changes in teams or the substitution of one inoffensive MBA-holder for another. That pretty much describes this month’s changes; 41 funds saw partial or complete changes in their management teams, none earth-shattering. 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 |
| ADIAX | Alpine Small Cap Fund | Michael Smith is no longer listed as a portfolio manager for the fund. | Sarah Hunt will now run the fund. | 5/17 |
| MFTAX | Altegris Managed Futures Strategy Fund | Robert Murphy is no longer listed as a portfolio manager for the fund. | Lara Magnusen has joined Eric Bundonis, John Tobin, and Matthew Osborne on the management team. | 5/17 |
| BGRWX | Barrett Growth Fund | No one, but . . . | Owen Gilmore has been added as a portfolio manager of the fund. He joins Robert Milnamow and E. Wells Beck | 5/17 |
| BATCX | BMO TCH Core Plus Bond Fund | Effective June 30, 2017, William Canida intends to relinquish all portfolio management duties in preparation for his retirement from Taplin, Canida & Habacht, LLC in the third quarter of 2017. | Scott Kimball, Daniela Mardarovici, Frank Reda, and Janelle Woodward are continuing to manage the fund | 5/17 |
| BATIX | BMO TCH Corporate Income Fund | Effective June 30, 2017, William Canida intends to relinquish all portfolio management duties in preparation for his retirement from Taplin, Canida & Habacht, LLC in the third quarter of 2017. | Scott Kimball, Daniela Mardarovici, Frank Reda, and Janelle Woodward are continuing to manage the fund | 5/17 |
| BAMEX | BMO TCH Emerging Markets Bond Fund | Effective June 30, 2017, William Canida intends to relinquish all portfolio management duties in preparation for his retirement from Taplin, Canida & Habacht, LLC in the third quarter of 2017. | Scott Kimball, Daniela Mardarovici, Frank Reda, and Janelle Woodward are continuing to manage the fund | 5/17 |
| BAIIX | BMO TCH Intermediate Income Fund | Effective June 30, 2017, William Canida intends to relinquish all portfolio management duties in preparation for his retirement from Taplin, Canida & Habacht, LLC in the third quarter of 2017. | Scott Kimball, Daniela Mardarovici, Frank Reda, and Janelle Woodward are continuing to manage the fund | 5/17 |
| BBIEX | Bridge Builder International Equity Fund | Ajay Sadarangani, of Manning & Napier will no longer serve as a portfolio manager to the fund. | The other two dozen managers remain. | 5/17 |
| CAVAX | Catholic Values Equity Fund | Waddell & Reed Investment Management Co. will no longer subadvise the fund, therefore Erik Becker and Gustaf Zinn are no longer on the management team. | The other thirteen managers remain. | 5/17 |
| REBAX | Columbia Emerging Markets Bond Fund | Henry Stipp is no longer listed as a portfolio manager for the fund. | Jim Carlen is joined by Christopher Cooke on the management team. | 5/17 |
| DBISX | Deutsche Global Macro Fund | Mark Schumann and Sebastian Werner are no longer listed as portfolio managers for the fund. | Stefan Flasdick, Henning Potstada, and Christoph-Arend Schmidt will manage the fund. | 5/17 |
| SMCAX | Deutsche Mid Cap Growth Fund | Rafaelina Lee is no longer listed as a portfolio manager for the fund. | Joseph Axtell will be joined by Michael Sesser and Peter Barsa in managing the fund. | 5/17 |
| SZCAX | Deutsche Small Cap Core Fund | Rafaelina Lee is no longer listed as a portfolio manager for the fund. | Joseph Axtell and Michael Sesser will continue to manage the fund. | 5/17 |
| SSDAX | Deutsche Small Cap Growth Fund | Rafaelina Lee is no longer listed as a portfolio manager for the fund. | Joseph Axtell will be joined by Michael Sesser and Peter Barsa in managing the fund. | 5/17 |
| DTCAX | Dreyfus Third Century Fund | Ronald Gala, C. Wesley Boggs, and William Cazalet are no longer listed as portfolio managers for the fund. | Terry Coles, John Gilmore, and Jeff Munroe are the new management team. | 5/17 |
| ETGIX | Eaton Vance Greater India Fund | Kevin Ohn will no longer serve as a portfolio manager for the fund. | Hiren Dasani will now manage the fund. | 5/17 |
| FSAVX | Fidelity Select Automotive Portfolio | Annie Rosen is no longer listed as a portfolio manager for the fund. | Elliot Mattingly will manage the fund. | 5/17 |
| FSHCX | Fidelity Select Health Care Services | Edward Yoon no longer serves as co-manager of the fund. | Justin Segalini will continue to manage the fund. | 5/17 |
| FFIOX | FormulaFolios US Equity Portfolio | Ryan Wheless will no longer serve as a portfolio manager for the fund. | Jason Wenk, Derek Prusa and Keith Springer remain managing the fund. | 5/17 |
| GSGAX | Goldman Sachs Investment Grade Credit Fund | Carolyn Sabat has announced that she will be retiring. Effective immediately, Ms. Sabat no longer serves as a portfolio manager for the Fund. | Ben Johnson will continue to manage the fund. | 5/17 |
| CPNAX | Invesco All Cap Market Neutral Fund | Charles Ko will no longer serve as portfolio manager. | Michael Abata, Anthony Munchak, Glen Murphy, Francis Orlando and Donna Chapman Wilson will continue to manage the fund. | 5/17 |
| GTNDX | Invesco Global Low Volatility Equity Yield Fund | Charles Ko will no longer serve as portfolio manager. | Uwe Draeger, Jens Langewand, Michael Abata, Nils Huter, and Donna Chapman Wilson will continue to manage the fund. | 5/17 |
| JAGRZ | Janus Aspen Research Portfolio | Jean Barnard and Burton Wilson are no longer listed as portfolio managers for the fund. | Carmel Wellso will now manage the fund. | 5/17 |
| LIMAX | Lateef Fund | James Tarkenton has resigned as part of what looks like a bigger shake-up. | Quoc Tran continues to manage the fund. | 5/17 |
| NCGFX | New Covenant Growth Fund | Waddell & Reed Investment Management Co. will no longer subadvise the fund, therefore Erik Becke is no longer on the management team. | The other nine managers remain. | 5/17 |
| OMSOX | Oppenheimer Main Street Select Fund | Effective Immediately, Benjamin Ram is no longer a portfolio manager on the fund. | Joy Budzinski and Magnus Krantz will continue to manage the fund. | 5/17 |
| PMDEX | PMC Diversified Equity Fund | Effective May 1, 2017, Thomas White International, Ltd. has been terminated. All references to Thomas White, Jr., Wei Li, Jinwen Zhang, Douglas M. Jackman, and John Wu are removed. | Epoch Investment Partners, Inc. has been added as a sub-adviser to the fund with Lilian Quah, William Priest, Glen Petraglia, and William Booth join the other dozen managers. | 5/17 |
| PUGIX | Putnam Global Utilities Fund | Sheba Alexander will no longer serve as a portfolio manager for the fund. | William Rives is now managing the fund. | 5/17 |
| PENNX | Royce Pennsylvania Mutual Fund | No one, but . . . | James Stoeffel and Chris Flynn join Lauren Romeo, Jay Kaplan, and Chuck Royce. | 5/17 |
| RCSAX | Russell Investments Commodity Strategies Fund | Lee Kayser will no longer serve as a portfolio manager for the fund. | Vic Leverett and Mark Raskopf will now manage the fund. | 5/17 |
| SEBLX | Sentinel Balanced Fund | Daniel Manion has retired. | Jason Doiron will continue to manage the fund | 5/17 |
| SENCX | Sentinel Common Stock Fund | Daniel Manion has retired. | Hilary Roper will continue to manage the fund | 5/17 |
| ATTRX | Transamerica Dynamic Allocation Fund | No one, but . . . | Jim Huynh joins Thomas Picciochi, Ellen Tesler, Adam Petryk, S. Kenneth Leech, Prashant Chandran on the management team. | 5/17 |
| UGEIX | USAA Global Equity Income Fund | Stephan Klaffke will no longer serve as a portfolio manager for the fund. | Dan Denbow and John Toohey will continue to manage the fund. | 5/17 |
| USIFX | USAA International Fund | Marcus Smith has retired. | Filipe Benzinho, Susanne Willumsen, James Shakin, Craig Scholl, Paul Moghtader, Ciprian Marin, Taras Ivanenko, Andrew Corry, and Daniel Ling will continue to manage the fund. | 5/17 |
| SSVSX | Victory Special Value Fund | The entire team of Thomas Uutala, Martin Shagrin, Carolyn Rains, Paul Danes, and Lawrence Babin will no longer serve as a portfolio manager for the fund. | Michael Gura will now manage the fund. | 5/17 |
| STYAX | Wells Fargo Core Plus Bond Fund | Ashok Bhatia will no longer serve as a portfolio manager for the fund. | Michael Schueller joins Thomas Price, Janet Rilling, Noah Wise and Christopher Kauffman in managing the fund. | 5/17 |
| SGVDX | Wells Fargo Government Securities Fund | Ashok Bhatia will no longer serve as a portfolio manager for the fund. | Michal Stanczyk joins Christopher Kauffman and Jay Mueller in managing the fund. | 5/17 |
| WSIAX | Wells Fargo Strategic Income Fund | Ashok Bhatia will no longer serve as a portfolio manager for the fund. | David Germany, Niklas Nordenfelt, Anthony Norris, Thomas Price, Scott Smikth, Alex Perrin, and Noah Wise will continue to manage the fund. | 5/17 |
| WBSIX | William Blair Small Cap Growth | Karl Brewer is no longer listed as a portfolio manager for the fund. | Michael Balkin and Ward Sexton will continue to manage the fund. | 5/17 |
| WSMDX | William Blair Small-Mid Cap Growth | Karl Brewer is no longer listed as a portfolio manager for the fund. | Robert Lanphier and Daniel Crowe will continue to manage the fund. | 5/17 |
