Category Archives: Manager changes

Manager Changes, February 2013

By Chip

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

AFOAX

AllianzGI Focused Opportunity Fund

Eric Sartorius

Michael Corelli remains

2/13

POPAX

AllianzGI Opportunity Fund

Eric Sartorius

Michael Corelli remains

2/13

TWADX

American Century Value

No one, but . . .

Chad Baumler becomes a comanager.

2/13

BACAX

BlackRock All-Cap Energy & Resources

Dennis Walsh and Dan Neumann

Robin Batchelor and Poppy Allonby

2/13

BMGAX

BlackRock Mid-Cap Growth Equity 

Eileen Leary and Andrew Leger

Lawrence Kemp and comanagers Kathryn Mongelli and Phil Ruvinsky

2/13

CSGEX

BlackRock Small Cap Growth Equity Portfolio

Andrew Thut and Andrew Leger

Travis Cooke and the Scientific Equity Team

2/13

CMSAX

Columbia Absolute Return Multi-Strategy

No one, but . . .

Jeffrey Knight joins the team

2/13

CEMAX

Columbia Absolute Return Multi-Strategy Enhanced 

No one, but . . .

Jeffrey Knight joins the team

2/13

IMRFX

Columbia Global Opportunities

Colin Moore, CIO, is no longer a named manager

Jeffrey Knight joins the team

2/13

CRAAX

Columbia Risk Allocation 

No one, but . . .

Jeffrey Knight joins the team

2/13

FDCPX

Fidelity Select Computers

Matthew Schuldt 

Christopher Lin is taking over

2/13

FSELX

Fidelity Select Electronics

Christopher Lin stepped down

Stephen Barwikowski remains

2/13

GATEX

Gateway Fund

J. Patrick Rogers leaves after 19 years, while his predecessor left after 20

Kenneth H. Toft, who has been co-managing for seven

2/13

GLMPX

GL Macro Performance Fund

Michael V. Tassone, resigned 

Dan Thibeault remains

2/13

HCAIX

Harbor Capital Appreciation

No one, but . . .

Kathleen McCarragher becomes a comanager

2/13

IENAX

Invesco Energy

Andrew Lees and Tyler Dann

Norman MacDonald will take over

2/13

IGDAX

Invesco Gold & Precious Metals 

Andrew Lees and Tyler Dann

Norman MacDonald will take over

2/13

VSEAX

JPMorgan Small Cap Equity

Glenn Gawronski, is taking a leave of absence of unknown duration

Don San Jose becomes lead manager in his absence, with Chris Jones as a new comanager.

2/13

LGBBX

Loomis Sayles Investment Grade Bond

No one, but . . .

Brian Kennedy joins the team

2/13

LSIGX

Loomis Sayles Investment Grade Fixed Income

No one, but . . .

Brian Kennedy joins the team

2/13

LSBAX

Lord Abbett Small-Cap Blend

Michael Smith

Bob Fetch will take over

2/13

MSFAX

Morgan Stanley Institutional Global Franchise

No one, but . . .

Marcus Watson joined the team.  It’s been a great fund for folks with $5 million to kick in.

2/13

MSIQX

Morgan Stanley Institutional International Equity

No one, but . . .

Marcus Watson joined the team.

2/13

OPSIX

Oppenheimer Global Strategic Income

Joseph Welsh

Jack Brown

2/13

OIBAX

Oppenheimer International Bond

No one, but . . .

Hemant Baijal joins Sara Zervos and Art Steinmetz

2/13

OSVAX

Oppenheimer Select Value

Mitch Williams and John Damian

Laton Spahr

2/13

QVSCX

Oppenheimer Small & Mid Cap Value

John Damian

Laton Spahr

2/13

CGRWX

Oppenheimer Value

Mitch Williams

Laton Spahr

2/13

PAGNX

PIMCO GNMA

Scott Simon, the lead manager, is retiring

Daniel Hyman will remain with Michael Cudzil joining him as a comanager.

2/13

PMRAX

PIMCO Mortgage-Backed Securities

Scott Simon, the lead manager, is retiring

Daniel Hyman will remain with Michael Cudzil joining him as a comanager.

2/13

PBAAX

PNC Balanced Allocation

Michael Santelli, Alex Vallecillo, and Edward Johnson

Mark Batty joins the rest of the team

2/13

PJMDX

Putnam Absolute Return 500 Fund

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PDMAX

Putnam Absolute Return 700 Fund

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PABAX

Putnam Dynamic Asset Allocation Balanced Fund

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PACAX

Putnam Dynamic Asset Allocation Conservative Fund

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PAEAX

Putnam Dynamic Asset Allocation Growth Fund

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PDREX

Putnam Dynamic Risk Allocation Fund

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PRMAX

Putnam Retirement Income Fund Lifestyle 1

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PRYAX

Putnam Retirement Income Fund Lifestyle 2

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PISFX

Putnam Retirement Income Fund Lifestyle 3

Jeffrey Knight leaves

The rest of the team, James Fetch, Robert Kea, Joshua Kutin, Robert Schoen and Jason Vaillancourt, continues on.

2/13

PRHSX

T. Rowe Price Health Sciences

Kris Jenner is leaving, with rumor and speculation in his wake.

Taymour Tamaddon is in

2/13

 

Manager Changes, January 2013

By Chip

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

TWNAX

American Century New Opportunities

Stafford Southwick is no longer a comanager

New manager, Jeffrey Otto, joins existing comanager, Matthew Ferretti

1/13

ANOAX

American Century Small Cap Growth

Stafford Southwick is no longer a comanager

New manager, Jeffrey Otto, joins existing comanager, Matthew Ferretti

1/13

ARTHX

Artisan Global Equity

Barry Dargan, the lead manager, left after a long year-end conversation.

Andrew Euretig and Charles-Henri Hamker will join comanager Mark Yockey

1/13

SGQAX

DWS Global Thematic, renamed as DWS Global Growth

Manager Oliver Kratz and his firm, Global Thematic Partners

An in-house team led by Joseph Axtell

1/13

SLANX

DWS Latin America Equity

Rainer Vermehren and Robert Kalin

Luiz Ribeiro, Thomas U. Petschnigg, and Danilo Pereira

1/13

FBMPX

Fidelity Select Multimedia

Kristina Salen

Nidhi Gupta

1/13

FSTCX

Fidelity Select Telecommunications

Kristina Salen

Matthew Drukker

1/13

FKINX

Franklin Income

No one, but . . .

Matt Quinlan and Alex Peters joined as comanagers

1/13

GQETX

GMO Quality III

William “Chuck” Joyce stepped down as the lead manager at age 42.

Comanagers Tom Hancock and David Cowan will remain, with support from other elements of GMO’s Quality team

1/13

JCUAX

JHancock2 Currency Strategies

Ken Ferguson retired

Dori Levanoni and Jeppe Ladekarl remain

1/13

LZHYX

Lazard U.S. High Yield 

J. William Charlton

David R. Cleary

1/13

MSILX

Litman Gregory Masters International

No one, but . . .

Wellington Management Company and Lazard Asset Management have been added as subadvisors, bringing the total number of subadvisors to seven.

1/13

OAKLX

Oakmark Select

No one, but . . .

Win Murray and Tony Coniaris will join Bill Nygren, who’s been managing the fund alone since comanager Henry Berghoef stepped down in July

1/13

UMBSX

Scout Stock 

Larry Valencia ducked out as folks began turning off the lights.

James Reed will continue on until the fund liquidates in March 2013

1/13

SSSAX

SunAmerica Focused Small-Cap Value

Daniel Lew

Timothy Pettee and Jay Merchant

1/13

TSIAX

Thornburg Strategic Income

George Strickland will be retiring

Jason Brady, comanager since fund inception, will remain.

1/13

MXAIX

Touchstone Micro Cap Value Fund

Subadvisor, Fifth Third Asset Management, along with managers Michael Barr, Craig Nedbalski, and Eric Holmes

Russell Implementation Services will serve as interim subadvisor with Wayne Hollister and Benjamin Linford as comanagers.

1/13

Manager changes, December 2012

By Chip

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
VERDX Aston/Veredus Small Cap Growth Subadvisor, Todd-Veredus Asset Management, has been fired. Lee Munder will be the new subadvisor and the fund will eventually be merged with the Munder-advised Aston SCG Fund.  In the interim, it’s ASTON Small Cap Fund. 12/12
CSXAX Calvert Social Index Fund David Jones and Eric Lessnau, along with subadvisor, World Asset Management Natalie Trunow 12/12
AAOPX Cavanal Hill Opportunistic S. Bob Rezaee Matt Stephani 12/12
DHOAX Delaware High-Yield Opportunities Kevin Loome Thomas H. Chow, Paul A. Matlack, Craig C. Dembek, and John P. McCarthy 12/12
DPHYX Delaware Pooled High-Yield Bond Kevin Loome and Chuck Devereux Thomas H. Chow, Paul A. Matlack, Craig C. Dembek, and John P. McCarthy 12/12
AAAAX DWS Alternative Asset Allocation Inna Okounkova, who’d been on leave through the end of the year, is no longer listed as a portfolio manager. The rest of the team remains. 12/12
FMAAX Federated Prudent Absolute Return Doug Noland, manager of Prudent Bear, will leave this fund Dana Meissner will remain but the word “Prudent” won’t. 12/12
FGLAX Fidelity Advisor Global Balanced Leon Tucker left the team. Maria Nikishkova joined. 12/12
FGBLX Fidelity Global Balanced Leon Tucker left the team. Maria Nikishkova joined. 12/12
FIGVX First Investors Government No one, but . . . Rodwell Chadehumbe joined as comanager 12/12
ITHAX Hartford Capital Appreciation No one, but . . . In March, Kent Stahl and Gregg Thomas will join as comanagers, as part of the fund’s succession planning 12/12
HFOAX Henderson International Opportunities Michael Wood-Martin is no longer a comanager Vincent Musumeci and Nicholas Cowley have joined the team. 12/12
HMAAX HighMark Tactical Capital Growth Allocation Fund David Goerz Derek Izuel, E. Jack Montgomery, and David Wines are in 12/12
HMRAX HighMark Tactical Growth & Income David Goerz Derek Izuel, E. Jack Montgomery, and David Wines are in 12/12
HDEAX Huntington Disciplined Equity Donald Keller Peter A. Sorrentino 12/12
HIEAX Huntington International Equity Madelynn Matlock Paul Attwood 12/12
IFCAX ING Emerging Equity Dividend, formerly ING Greater China Fund As part of its reorganization ING is bringing fund management in-house while Guy Uding and Oscar Kin Fai Leung have been dispatched to the … uhh, outhouse. Robert Davis, Nicolas Simar, and Manu Vandenbulck are the new co-managers. 12/12
IMOIX ING Growth and Income Core Por In conjunction with the change to the Portfolio’s sub-adviser, Thornburg Investment Management, Edward Maran and Connor Browne will be replaced as co-portfolio managers Christopher F. Corapi and Michael Pytosh of ING Investment Management Co. will begin managing the portfolio. 12/12
IVCAX ING International Value Choice Tradewinds Global Investors, LLC was terminated as sub-adviser, another in a long series of losses for them. Martin Jansen, David Rabinowitz, and Joseph Vultaggio will be the new co-managers 12/12
NAWGX ING International Value Equity Tradewinds Global Investors, LLC was terminated as sub-adviser Martin Jansen, David Rabinowitz, and Joseph Vultaggio will be the new co-managers 12/12
PAVAX ING Value Choice A Tradewinds Global Investors, LLC was terminated as sub-adviser Christopher Corapi and Robert Kloss of ING Investment Management Co. will begin managing the portfolio. 12/12
LGILX Laudus Growth Investors US Large Cap Lawrence Kemp Paul A. Graham, Saverio (Sam) Console and Peter Bye are co-managers of the fund. 12/12
SBEYX Legg Mason Esemplia Emerging Markets Long-Short Aquico Wen Stavros Triantafilidis, Michael Bourke and Eric Curiel got the nod.  Their task might be to stop this from acting like a simple e.m. index fund (its 2012 r-squared is 97). 12/12
MSSFX Litman Gregory Masters Smaller Companies Copper Rock Capital Partners and portfolio manager Tucker Walsh have been fired.  No shame: the fund discharged formerly Masterful investors in 2006, 07, 09, 10, 11 and 12. Frank Sustersic and Turner Investment Partners have been hired to join the rest of the team. 12/12
FGIAX Nuveen Global Infrastructure No one, but . . . Tryg Sarsland joins Jay Rosenberg and John Wenker 12/12
BPFAX PTA Comprehensive Alternatives Fund We didn’t even know the PTA ran a mutual fund.  In any case, no one lost their job though given average annual losses of 5.6% over the past five years perhaps someone should have. Subadvisor Horizon Asset Management, with Murray Stahl, Steven Bregman, and Peter Doyle are added. 12/12
RCAPX RS Capital Appreciation Fund As part of reorganization into RS Growth Fund, Christy Phillips, Larry Coats, and David Carr, of subadvisor Oak Value, are all out. Stephen Bishop, Melissa Chadwick-Dunn, and D. Scott Tracy, are in. 12/12
FSCFX Strategic Advisers Small-Mid Cap No one, but . . . Donald Cobin and Christian McDonald were added as portfolio managers. 12/12
FNAPX Strategic Advisers Small-Mid Cap Multi-Manager No one, but . . . Donald Cobin and Christian McDonald were added as portfolio managers. 12/12
PAMGX Prudential Target Moderate Allocation, renamed Prudential Defensive Equity As part of a change in objective, all existing subadvisors will be out. New subadvisor, Quantitative Management Associates, will be in. 12/12
VEINX Wilmington Large Cap Value NWQ Investment Management Company, with portfolio managers Kevin Hunter and Jon Bosse, is out Andrew Hopkins, Rafael Tamargo, Thomas Neale, and Edward Forrester are in 12/12

 

Manager changes, November 2012

By Chip

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
PCDFX Aberdeen Core Fixed Income J. Christopher Gagnier, Oliver Boulind and Timothy Vile have stepped down Existing comanagers, Stephen Cianci and Neil Moriarty will be joined by Michael Degernes, Edward Grant, and Charles Tan. 11/12
AUDIX Aberdeen Ultra-Short Duration Bond Oliver Boulind and Neil Moriarty have stepped down The rest of the team remains. 11/12
AIFLX American Independence Large Cap Growth Robert S. Natale John Christopher Jacobs 11/12
AIFSX American Independence Small Cap Growth Robert S. Natale John Christopher Jacobs 11/12
MDFGX BlackRock Capital Appreciation Jeff Lindsey Lawrence Kemp 11/12
MAFOX BlackRock Focus Growth Jeff Lindsey Lawrence Kemp 11/12
BLDAX BlackRock Low Duration Bond Comanager Stuart Spodek Scott MacLellan joins as a new comanager with Tom Musmanno, who remains. 11/12
DEQAX Dreyfus Global Equity Income No one, but . . . Nick Clay joined James Harries as a comanager 11/12
SNIEX Dreyfus/Newton International Equity No one, but . . . Jeff Munroe joined Paul Markham as a comanager 11/12
EAGMX Eaton Vance Global Macro Absolute Return Mark Venezia will retire The other managers remain. 11/12
FTEAX Forward Tactical Enhanced Christopher J. Guptill, an outsider who was doing a singularly fine job. Jim O’Donnell and Jim Welsh take over as part of an “in-housing” trend at Forward 11/12
GALLX Goldman Sachs Flexible Cap Growth No one, but . . . Warren Fisher was added as a comanager 11/12
IMOIX ING Growth and Income Core Portfolio (formerly, ING Thornburg Value Portfolio) Connor Browne and Edward Maran, as subadvisor Thornburg Investment Management was terminated. Christopher F. Corapi and Michael Pytosh of subadvisor, ING Investment Management 11/12
JMIGX Jacob Micro Cap Growth Jamie Cuellar Ryan Jacob, who bought the former Pinebridge Micro Cap fund in July and has installed himself as manager 11/12
PBSBX Jacob Small Cap Growth Jamie Cuellar Ryan Jacob, same story as with Micro Cap: bought the fund, hired himself, didn’t lower the 3.4% expense ratio. 11/12
PZFVX John Hancock Classic Value No one, but . . . Ben Silver has joined as the fourth comanager. 11/12
LGILX Laudus Growth Investor US Large Cap Growth Lawrence Kemp has retired from UBS, the subadvisor. He’s being replaced by a team of three, Paul Graham, Sam Console, and Peter Bye. 11/12
MFDAX Managers Fixed Income Subadvisor Loomis Sayles is out, along with Dan Fuss.  Fuss is splendid and quite elderly and his heir apparent jumped ship so … Gannett Welsh & Kotler, LLC, is in, with Mary Kane as portfolio manager. 11/12
NCBIX New Covenant Balanced Income John J. McCue Derek Papastrat 11/12
NSAGX Nuveen Santa Barbara Growth James Boothe Robert C. Doll Jr. 11/12
OPMSX Oppenheimer Main Street Small- & Mid-Cap No one, but . . . Raymond Anello is now lead manager, and Joy Budzinski, Kristin Ketner Pak, Magnus Krantz, and Adam Weine were added as comanagers. 11/12
PIGFX Pioneer Fundamental Growth Timothy Mulrenan Paul Cloonan 11/12
PINDX Pioneer Independence Timothy Mulrenan Andrew Acheson continues alone. 11/12
PRIAX Principal International Emerging Markets Michael Ade and Michael Reynal Mohammed Zaidi will join Mihail Dobrinov as a manager 11/12
PPGAX Putnam Global Sector No one, but . . . Isabel Buccellati joins the team, now numbering 14 11/12
PRFRX T. Rowe Price Floating Rate Justin Gerbereux has stepped down Comanager Paul Massaro remains as the sole manager. 11/12
RPIFX T. Rowe Price Institutional Floating Rate Justin Gerbereux has stepped down Comanager Paul Massaro remains as the sole manager. 11/12
TGGEX TCW Growth Equities Husam Nazer and Brendt Stallings will be out by the end of the year Mike Olson and Chang Lee will assume the duties 11/12
TGSCX TCW Small Cap Growth Husam Nazer and Brendt Stallings, who managed a high volatility/low returns style, will be out by the end of the year Mike Olson and Chang Lee will assume the duties 11/12
TGSDX TCW SMID Cap Growth Husam Nazer and Brendt Stallings will be out by the end of the year Mike Olson and Chang Lee will assume the duties 11/12
USGRX USAA Growth & Income Subadvisors Loomis Sayles and UBS Global Asset Management. An in-house team, John Toohey and Wasif Latif, join the other subadvisors. 11/12
USISX USAA Income Stock No one, but . . . They’re adding an internal team to comanage a portion of the fund. The internal team consists of Wasif Latif, John Toohey, Julianne Bass, and Steve Klaffke. The existing subadvisors will remain. 11/12

 

Manager changes, October 2012

By Chip

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
PGWCX Allianz RCM Focused Growth, formerly Allianz AGIC Growth Fund The entire AGI Capital team. The RMC team of Scott T. Migliori, Karen Hiatt, and David Jedlicka 11/12
ARMAX Allianz RCM Global Commodity Equity Alec Patterson Paul Strand becomes the lone manager 11/12
APHMX Artisan Mid Cap No one, but . . . Matthew Kamm has stepped up to a named manager role 11/12
BIAOX Brown Advisory Opportunity Fund Darryl R. Oliver Paul Li, Maneesh Bajaj and Eric Gordon 11/12
APFAX Cohen & Steers Emerging Markets Real Estate No one, but . . . William Leung has joined as comanager.  Leung had 12 years at Deutsche Bank/RREEF Real Estate.  Presumably Deutsche Bank’s ongoing efforts to sell its RREEF unit weighed on him. 11/12
CSFAX Cohen & Steers Global Realty No one, but . . . William Leung has joined as comanager 11/12
IRFAX Cohen & Steers International Realty No one, but . . . William Leung has joined as comanager 11/12
CALFX Cutler Income Fund Michael Cheung Xavier J. Urpi 11/12
SEMGX DWS Emerging Markets Equity Jason Inzer Comanager, Thomas Voecking, will remain, joined by Anna Wallentin, Juergen Foerster, and Johannes Prix 11/12
SZEAX DWS Enhanced Emerging Markets Fixed Income No one, but . . . Kumar Vemuri was added.  Given that the “Enhanced” fund typically resides in the bottom 10% of its peer group, his addition can’t hurt. 11/12
KDHAX DWS Equity Dividend Jason Inzer Comanager, Thomas Voecking, will remain, joined by Anna Wallentin, Juergen Foerster, and Johannes Prix 11/12
GGGGX DWS GNMA John Ryan has been removed as portfolio comanager Lead manager, Bill Chepolis, remains with the other comanagers 11/12
SCINX DWS International Jason Inzer Comanager, Thomas Voecking, will remain, joined by Anna Wallentin, Juergen Foerster, and Johannes Prix 11/12
KUSAX DWS Strategic Government Securities John Ryan has been removed as portfolio comanager Lead manager, Bill Chepolis, remains with the other comanagers 11/12
FDMAX Fidelity Advisor Communications Equipment Charlie Chai has stepped down Ali Khan will remain as the sole manager 11/12
FAMKX Fidelity Advisor Emerging Markets Robert von Rekowsky no longer serves as portfolio manager Sammy Simnegar 11/12
FAGAX Fidelity Advisor Growth Opportunities No one, but . . . Gopal Reddy will join Steven Wymer 11/12
FGVAX Fidelity Advisor Growth Strategies Patrick Venanzi Eddie Yoon joins the team 11/12
FGCAX Fidelity Advisor Mid Cap Growth No one, but . . . Edward Yoon was added as a comanager 11/12
FMCDX Fidelity Advisor Stock Selector Mid Cap Patrick Venanzi Eddie Yoon joins the team 11/12
FSMGX Fidelity Mid Cap Growth Patrick Venanzi Eddie Yoon joins the team 11/12
FSDCX Fidelity Select Communications Equipment Charlie Chai has stepped down Ali Khan will remain as the sole manager 11/12
FSHOX Fidelity Select Construction & Housing Dan Kelley has stepped down as comanager Holger Boerner will remain. 11/12
FSDAX Fidelity Select Defense & Aerospace John Sheehy has stepped down Douglas Scott will remain as sole manager 11/12
FSAEX Fidelity Series All Sector Equity John Avery and Adam Hetnarski Monty Kori and Brian Lempel 11/12
FMSVX FMC Strategic Value No one, but . . . Paul E. Patrick, joins Edward I. Lefferman, as a comanager. Lefferman has managed the fund since its inception in 1998.  The fund has sort of fallen off the rails since 2010 after a long, strong run. 11/12
GARTX Goldman Sachs Absolute Return Tracker Jonathan Sheridan Matthew Hoehn and Don Mulvihill remain, presumably trying to find the “absolute” in a fund that’s down 11% since launch. 11/12
IFCAX ING Greater China, soon to be called ING Emerging Markets Equity Dividend The entire team is leaving as the strategy and name are changed. Nicolas Simar, Manu Vandenbulck, and Robert Davis 11/12
JMIGX Jacob Micro Cap Growth Fund Jamie Cuellar Darren Chervitz and Ryan Jacob
SBLGX Legg Mason ClearBridge Large Cap Growth Comanager Scott Glasser will be stepping down, but not until March 2013 Margaret Vitrano was added.  The “Legg Mason” moniker will soon disappear. 11/12
LSBRX Loomis Sayles Bond Kathleen Gaffney leaves for a position with Eaton Vance after three decades with Loomis Sayles. Founder, Daniel Fuss, remains along with comanagers Matthew Eagan and Elaine Stokes 11/12
EPIPX MainStay Epoch International Small Cap Emily Baker will leave as of Dec 31 Eric Citerne, Michael Welhoelter, and William Priest will continue 11/12
ICAUX Mainstay ICAP Equity No one, but . . . Thomas Cole joined the team 11/12
ICGLX Mainstay ICAP Global No one, but . . . Thomas Cole joined the team 11/12
ICEVX Mainstay ICAP International No one, but . . . Thomas Cole joined the team 11/12
ICSRX Mainstay ICAP Select Equity No one, but . . . Thomas Cole joined the team 11/12
MAPAX Mainstay MAP No one, but . . . Thomas Cole joined the team 11/12
EXTCX Manning & Napier Technology Tariq Siddiqi Jacob Boak 11/12
PWEAX PACE International Emerging Markets Equity Subadvisors, Delaware Management Company and Pzena Investment Management Lee Munder is a new subadvisor 11/12
PGMDX PIMCO Global Multi-Asset No one, but . . . Saumil Parikh is now a comanager 11/12
POLIX Polen Growth No one, but . . . Damon Ficklin has joined Dan Davidowitz.    The fund is up to $355 million after two years, which might explain the added staff. 11/12
USGRX USAA Growth & Income John Leonard Ian McIntosh 11/12
USISX USAA Income Stock Sam Wilderman David Cowan 11/12
VMMSX Vanguard Emerging Markets Select Stock Michael Godfrey, who comanaged for subadvisor M&G Matthew Vaight will continue for M&G 11/12
WTMGX Westcore MIDCO Growth William Chester is retiring. Comanagers Mitch Begun and F. Wiley Reed will remain 11/12
WTSLX Westcore Select William Chester is retiring. Comanagers Mitch Begun and F. Wiley Reed will remain 11/12

 

Manager changes, September 2012

By Chip

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
ACCSX Access Capital Community Investment Todd Brux Brian Svendahl continues on, with Scott Kirby joining him. 9/12
MDBAX BlackRock Basic Value Kevin Rendino retires at the end of October Carrie King remains, and is joined by former PEYAX manager, Bart Geer. 9/12
BGSAX BlackRock Science & Technology Opportunities Paul Ma Comanagers Thomas Callan, Jean Rosenbaum, and Erin Xie remain 9/12
CSMIX Columbia Small Cap Value Stephen Barbaro will retire at the end of the year. Jeremy Javidi and John Barrett will remain. 9/12
DPLTX Dreyfus High Yield No one, but . . . Kevin Cronk is added. 9/12
DSIGX Dreyfus Short-Intermediate Government No one, but . . . Robert Bayston and Nate Pearson will join Dawn Guffey 9/12
FAGOX Fidelity Advisor Growth Opportunities No one, but . . . Gopal Reddy has become a comanager with Steve Wymer 9/12
FEMKX Fidelity Emerging Markets Bob von Rekowsky (see ya!) Sammy Simnegar, manager at Fidelity International Capital Appreciation (FIVFX) which has a major e.m. stake and has done quite solidly under his direction 9/12
FSNGX Fidelity Select Natural Gas No one, but . . . Ted Davis, formerly an analyst with AllianceBernstein, is a new co-portfolio manager 9/12
GABAX Gabelli Asset No one, but . . . Jeffrey Jonas has joined as a comanager 9/12
GMWAX GMO Global Asset Allocation III No one, but . . . Sam Wilderman will join Ben Inker as a comanager 9/12
GMOIX GMO International Intrinsic Value Sam Wilderman Tom Hancock remains, and is joined by David Cowan 9/12
GMUEX GMO US Core Equity Sam Wilderman Tom Hancock remains, and is joined by David Cowan 9/12
NAWGX ING Global Value Choice Tradewinds Global Investors is no longer a subadvisor.  These are the latest in a string of cancellations for Tradewinds since the departure of their CIO and three managers in April 2012. David Rabinowitz, Martin Jansen and Joseph Vultaggio 9/12
IVCAX ING International Value Choice Tradewinds Global Investors is no longer a subadvisor. David Rabinowitz, Martin Jansen and Joseph Vultaggio 9/12
XXXXX ING target-date, target-risk, and multiasset fund lineup Bill Evans, head of manager research and selection and portfolio manager Halvard Kvaale 9/12
PAVAX ING Value Choice Tradewinds Global Investors is no longer a subadvisor. Christopher Corapi and Robert Kloss will comanage in anticipation of merging this fund with ING Large Cap Value (IEDAX) 9/12
GGHCX Invesco Global Health Care Dean Dillard Derek Taner remains as the sole manager 9/12
PIAFX Invesco Premium Income Peter Ehret The other twelve managers remain. 9/12
ICDAX Ivy Cundill Global Value David Tiley Andrew Massie remains. 9/12
JORNX Janus Global Select John Eisinger George Maris 9/12
JHASX JHancock Global Absolute Return Strategies David Millar Euan Munro and Guy Stern remain. 9/12
NMHYX Northern Multi-Manager High Yield Opportunity Stone Harbor Investment Partners is out as a subadviser. DDJ Capital Management is in. 9/12
NMMLX Northern Multi-Manager Large Cap Marsico Capital Management is out as a subadviser. WestEnd Advisors is in as a subadviser. 9/12
SWANX Schwab Core Equity No one, but . . . Jonas Svallin joins Larry Mano and Paul Alan Davis as comanager 9/12
SWRLX Sentinel International Equity No one, but . . . Andrew Boczek joins Kate Shapiro as comanager. 9/12
FSAMX Strategic Advisers Emerging Markets No one, but . . . Acadian Asset Management, has been added as a second subadvisor, with CIO John Chisholm, managing their portion of the fund. 9/12
TBAAX Touchstone Balanced Allocation John Thompson The comanagers remain. 9/12
TSAAX Touchstone Conservative Allocation John Thompson The comanagers remain. 9/12
TGQAX Touchstone Growth Allocation John Thompson The comanagers remain. 9/12
TSMAX Touchstone Moderate Growth Allocation John Thompson The comanagers remain. 9/12
FOSCX Tributary Small Company Randall Greer Mark Wynegar and Michael Johnson remain as comanagers. 9/12
BEAAX UBS U.S. Equity Alpha John Leonard has stepped down from the fund, but remains with the firm. Ian McIntosh will join existing comanagers, Scott Bondurant and Thomas Digenan. 9/12
VGHCX Vanguard Health Care Ed Owens, highly successful manager for the past 28 years, will retire at the end of the year. Jean Hynes, comanager since 2007, will remain and take the lead. 9/12
LWEAX Western Asset Emerging Markets Debt No one, but . . . Gordon Brown and Robert Abad joined as part of the new team-based approach 9/12
SHIAX Western Asset High Income No one, but . . . Walter Kilcullen joined the team. 9/12
WAYAX Western Asset High Yield No one, but . . . Walter Kilcullen joined the team. 9/12
WAUAX Western Asset Total Return Unconstrained No one, but . . . Dennis McNamara was added as a manager as a part of Western Asset’s team-based approach. 9/12

Manager Changes, August 2012

By Chip

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
ACCSX Access Capital Community Investment John Huber Comanagers, Brian Svendahl and Todd Brux, will continue on 8/12
CABNX AllianceBernstein Balanced Shares The entire team The quantitative investment strategies team, Michael DePalma, Ashwin Alankar, and Leon Zhu. 8/12
BEDIX BlackRock Emerging Market Debt Daniel Shaykevich, Schott Thiel, and Imran Hussain are out. Sergio Trigo Paz, Raphael Marechal, and Laurent Develay are in, as is the new name, BlackRock Emerging Market Local Debt 8/12
BABDX BlackRock Global Dividend Income No one, but . . . Andrew Wheatley-Hubbard becomes the third comanager. 8/12
CGVAX Calvert Government No one, but . . . Vishal Khanduja has been added as a comanager 8/12
CULAX Calvert Ultra-Short Income No one, but . . . Vishal Khanduja has been added as a comanager 8/12
UMMGX Columbia Bond Alexander Powers, manager since 1997, is retiring. Comanagers, Carl Pappo and Michael Zazzarino remain 8/12
RRGAX DWS RREEF Global Real Estate Securities William Leung Chris Robinson joins the team of six 8/12
HMCAX Eagle Mid Cap Stock No one, but . . . Chuck Schwartz, Betsy Pecor and Matt McGeary have joined Eagle Asset Management and will be comanagers of the fund. 8/12
FSHCX Fidelity Select Medical Delivery Andrew Hatem Steven Bullock becomes the 7th person to manage the fund since 2000 8/12
MDEGX BlackRock Global Dynamic Equity The existing team, including lead manager Dennis Stattman, are leaving this fund, but not the firm. Everything changes: name (Long-Horizon Equity), mandate and managers.  The new fund will be run by a global equity team headed by Richard Turnill 8/12
GSAGX Goldman Sachs Asia Equity No one, but . . . Edward Perkin, a long-time Goldman employee, joined the management team and at four other sad-sack Goldman funds. Why? 8/12
GZIAX Goldman Sachs Brazil Equity Gabriella Antici leaves this high turnover, high expense underperformer The rest of the team continues on. 8/12
GBRAX Goldman Sachs BRIC No one, but . . . Edward Perkin joined the management team 8/12
GSIFX Goldman Sachs Concentrated International Equity Hiroyuki Ito Edward Perkin and Alexis Deladerriere continue on 8/12
GEMAX Goldman Sachs Emerging Markets Equity No one, but . . . Edward Perkin joined the management team 8/12
GISAX Goldman Sachs International Small Cap Hiroyuki Ito Guarav Rege joins comanager Aidan Farrell 8/12
GSYAX Goldman Sachs N-11 Equity No one, but . . . Maria Drew joined as comanager, forming the team of Loo and Drew. 8/12
GSAKX Goldman Sachs Strategic International Equity Hiroyuki Ito Edward Perkin and Alexis Deladerriere continue on 8/12
GAGEX Guinness Atkinson Global Energy Tom Nelson Tim Guinness, Ian Mortimer, and Will Riley remain 8/12
IFCAX ING Greater China William Pang has left The rest of the team continues on. 8/12
GGHCX Invesco Global Health Care Dean Dillard The rest of the team continues on. 8/12
AMHYX Invesco High Yield Peter Ehret has left the firm Darren Hughes and Scott Roberts will comanage 8/12
JMFTX Janus Emerging Markets No one, but . . . Hiroshi Yoh joins the team. 8/12
JORNX Janus Global Select John Eisinger George Maris, who also manages Janus Worldwide (JAWWX) 8/12
JHAQX John Hancock High Income No one, but . . . John Addeo joins the team 8/12
TSHYX John Hancock High Yield No one, but . . . John Addeo joins the team 8/12
JNRAX John Hancock Natural Resources No one, but . . . RS Investments joins as a new subadvisor, with MacKenzie Davis, Andrew Pilara, Jr., and Kenneth Settles, Jr. running their sleeve of the fund. 8/12
JICAX JPMorgan Intrepid Multi Cap No one, but . . . Garrett Fish joined existing comanagers, Dennis Ruhl and Jason Alonzo. 8/12
OLVAX JPMorgan Large Cap Value Alan Gutmann is taking a leave of absence Comanager Aryeh Glatter will take over as lead manager 8/12
JTVAX JPMorgan U.S. Large Cap Value Plus Alan Gutmann is taking a leave of absence Comanager Aryeh Glatter will take over as lead manager 8/12
JUEAX JPMorgan US Equity Alan Gutmann is taking a leave of absence Comanager Aryeh Glatter will take over as lead manager 8/12
JVOAX JPMorgan Value Opportunities Alan Gutmann is taking a leave of absence Comanager Aryeh Glatter will take over as lead manager 8/12
LZISX Lazard International Small Cap Equity Brian Pessin Alex Ingham joins John Reinsberg and Edward Rosenfeld 8/12
LMGTX Legg Mason Capital Management Global Growth Robert Hagstrom is stepping down Comanager Gibboney Huske will take on the lead role 8/12
LFRAX Lord Abbett Floating Rate Joel Serebransky left Jeff Lapin will join comanager, Chris Towle 8/12
LGLAX Lord Abbett Growth Leaders David Linsen leaves the management slot to become research director. Paul Volovich, Tom O’Halloran, Anthony Hipple and Arthur Weise 8/12
LMGAX Lord Abbett Growth Opportunities David Linsen leaves the management slot to become research director. Paul Volovich becomes lead manager. 8/12
LALCX Lord Abbett Stock Appreciation David Linsen leaves the management slot to become research director, Paul Volovich heads of to manage LMGAX Tom O’Halloran is the new leader. 8/12
MSFAX Morgan Stanley Global Franchise Walter Riddell will retire at the end of the year. 8/12
MEQIX Morgan Stanley Institutional Asian Equity No one, but . . . May Yu joins as fourth comanager. 8/12
MSIQX Morgan Stanley Institutional International Equity Walter Riddell will retire at the end of the year. 8/12
MSISX Morgan Stanley Institutional International Small Cap Margaret Naylor, Arthur Pollock, Alistair Corden-Lloyd, and Alexander Vislykh Burak Alici will be the sole manager. 8/12
AMFAX Natixis ASG Managed Futures Strategy No one, but . . . Robert Sinnott joins the team 8/12
NNGAX Nuveen Multi-Manager Large-Cap Value No one, but . . . Thomas Cole joins the team on behalf of Institutional Capital. Joel Drescher joins for Symphony Asset Management. 8/12
PEYAX Putnam Equity Income Bartlett Geer leaves to join BlackRock Darren Jaroch, current manager of Putnam International Value (PNGAX), is the new manager here, joined by Walter Scully as a comanager. 8/12
PNGAX Putnam International Value No one, but . . . Karan Sodhi joins Darren Jaroch as an assistant manager. 8/12
SWDSX Schwab Dividend Equity No one, but . . . Jonas Svallin joined the team. 8/12
SWFFX Schwab Financial Services No one, but . . . Jonas Svallin joined the team. 8/12
SWHFX Schwab Health Care No one, but . . . Jonas Svallin joined the team. 8/12
SWHEX Schwab Hedged Equity No one, but . . . Jonas Svallin joined the team. 8/12
SICNX Schwab International Core Equity No one, but . . . Jonas Svallin joined the team. 8/12
SWLSX Schwab Large-Cap Growth No one, but . . . Jonas Svallin joined the team. 8/12
SWSCX Schwab Small Cap Equity No one, but . . . Jonas Svallin joined the team. 8/12
SELAX Select Alternative Allocation No one, but . . . Ellen Tesler joins the other three managers. 8/12
SNTNX Sentinel Mid Cap Chuck Schwatz, Betsy Pecor, Matt Spitznagle, and Matt McGeary have left for positions with Eagle Asset Management Christian Thwaites, Dan Manion, Hilary Roper, and Carole Hersam will take over. 8/12
SYVAX Sentinel Mid Cap II Chuck Schwatz, Betsy Pecor, Matt Spitznagle, and Matt McGeary have left for positions with Eagle Asset Management Christian Thwaites, Dan Manion, Hilary Roper, and Carole Hersam will take over. 8/12
SAGWX Sentinel Small Company Chuck Schwatz, Betsy Pecor, Matt Spitznagle, and Matt McGeary have left for positions with Eagle Asset Management Christian Thwaites, Dan Manion, Hilary Roper, and Carole Hersam will take over. 8/12
MYPVX Sentinel Sustainable Mid Cap Opportunities Chuck Schwatz, Betsy Pecor, Matt Spitznagle, and Matt McGeary have left for positions with Eagle Asset Management Christian Thwaites, Dan Manion, Hilary Roper, and Carole Hersam will take over. 8/12
FBAAX SunAmerica Focused Balanced Strategy No one, but . . . Kara Murphy was added as a comanager 8/12
FASAX SunAmerica Focused Multi-Asset Strategy No one, but . . . Kara Murphy was added as a comanager.  Given the fund’s high expenses, high sales load and high risk scores, I’m not sure it will matter. 8/12
PRSVX T. Rowe Price Small-Cap Value Preston Athey is beginning to phase out.  He’ll step down in mid 2014 after a 36 year career with T Rowe. David Wagner will step up from associate portfolio manager. 8/12
HPCCX USX China Ryan Jenkins resigned Christopher Anci remains 8/12
VEVFX Vanguard Explorer Value Brian Walton leaves the team Timothy Beyer joins the team. 8/12
VHGEX Vanguard Global Equity AllianceBernstein has been removed as a subadvisor. Baillie Gifford will run more of the fund 8/12
VTRIX Vanguard International Value AllianceBernstein has been removed as a subadvisor. A team from ARGA Investment Management, LP. 8/12
VWNDX Vanguard Windsor AllianceBernstein has been removed as a subadvisor. A team from Pzena Investment Management joins James Mordy, a Wellington manager whose been with the fund for four years.  If their corporate mascot was a buccaneer, they’d be the Pirates of Pzena. 8/12
PSFRX Virtus Senior Floating Rate No one, but . . . Frank Ossino has joined Newfleet Asset Management, the subadvisor, and David Albrycht and Kyle Jennings, the comanagers. 8/12

 

Manager Changes, July 2012

By Chip

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 Date
AAIEX American Beacon International Equity Gary Motyl passed away last month Cindy Sweeting and Antonio Docal were named as portfolio managers 7/12
BIBDX BlackRock Global Dividend Income No one, but … Andrew Wheatley-Hubbard joins the team as a comanager 7/12
BGORX BlackRock Global Opportunities Michael Carey is no longer manager Nigel Hart, managing director of BlackRock, will become comanager with the existing team of Ian Jamieson and Thomas Callan. 7/12
MMCIX BNY Mellon Small/Mid Cap No one, but … Alexander Budny III and Charles Trafton will be added as comanagers 7/12
CVARX Calamos Value No one, but … Three new managers, Jeff Miller, Ariel Fromer, and Tammy Miller, join the team. 7/12
SLMCX Columbia Seligman Communications & Information No one, but … Ajay Diwan is joining the management team of Paul Wick, Richard Parower, Vishal Saluja, and Sushil Wagle 7/12
CSMIX Columbia Small Cap Value I Stephen D. Barbaro will retire at the end of the year His comanager, Jeremy H. Javidi, assumed the role of lead manager on June 30, 2012, with John Barret continuing to comanage. 7/12
CTCAX Columbia Technology No one, but … Rahul Narang has joined lead manager, Wayne Collette. 7/12
CRISX CRM Mid Cap Value No one, but … Robert Rewey III has joined as a comanager 7/12
CRIAX CRM Small/Mid Cap Value No one, but … Jonathan Ruch has joined as a comanager 7/12
DLMAX Delaware Mid Cap Value No one, but … Steven Catricks, Kelley McKee, and Kent Madden, three equity analysts, have been promoted to comanagers 7/12
DEVLX Delaware Small Cap Value No one, but … Steven Catricks, Kelley McKee, and Kent Madden, three equity analysts, have been promoted to comanagers 7/12
DIGFX Dreyfus Basic US Mortgage Securities No one, but … Karen Gemmett has joined as a comanager. 7/12
DIAVX Dreyfus Inflation Adjusted Securities No one, but … Nate Pearson was added as a portfolio manager, joining comanagers Robert Bayston and David Horsfall 7/12
DRGIX Dreyfus US Treasury Intermediate Term No one, but … Nate Pearson, a current strategist with the firm, is a new comanager, with head manager Robert Bayston. 7/12
DRGBX Dreyfus US Treasury Long-Term No one, but … Nate Pearson, a current strategist with the firm, is a new comanager, with head manager Robert Bayston. 7/12
FPIVX FPA International Value Eric Bokota, in a surprise move, has stepped down as comanager and resigned from First Pacific Advisors. Comanager Pierre O. Py  remains as the sole manager but is looking for a senior analyst 7/12
FRBSX Franklin Balance Sheet Investment No one, but … Grace Hoefig joins the management team 7/12
FRVLX Franklin Small Cap Value Y. Dogan Sahin Steve B. Raineri joins a team that’s been in place since 1996 7/12
HFLAX Hartford Floating Rate Frank Ossino has left Wellington Management, the subadviser, and has stepped down as portfolio manager. Comanager, Michael Bacevich, remains. 7/12
HSFAX HSBC Frontier Markets No one, but … Chris Turner has joined Andrew Brudenell as a comanager 7/12
JNRAX John Hancock Natural Resources No one, but … RS Investment Management becomes a second subadvisor. 7/12
EPLPX MainStay Epoch U.S. Equity David Pearl will no longer be manager, as part of a larger shift in strategy, as well as a name change. Eric Sappenfield will join the management team of MainStay Epoch U.S. Equity Yield 7/12
MERGX Marsico Emerging Markets Joshua Rubin is among the latest group leaving. Munish Malhotra remains as the sole portfolio manager 7/12
MFCFX Marsico Flexible Capital Doug Rao is the latest of many departures. Jordan Laycob and Munish Malhotra will comanage. 7/12
MFOCX Marsico Focus Doug Rao is the latest of many departures. Tom Marsico and Coralie Witter remain. 7/12
MGRIX Marsico Growth Doug Rao is the latest of many departures. Tom Marsico and Coralie Witter remain. 7/12
MERDX Meridian Growth No one, but … Larry Cordisco, who left Meridian Value in 2011, returns to shore up the team of William Tao and Jamie England after Rick Aster’s death early this year. 7/12
MPXCX MFS Asia Pacific Ex Japan Robert W. Lau will be replaced by . . . . . . John J. Tsai and Sanjay Natarajan 7/12
OPTFX Oppenheimer Capital Appreciation No one, but … Michael Kotlarz  joined as comanager 7/12
OEQAX Oppenheimer Equity No one, but … Michael Kotlarz  joined as comanager 7/12
PIUIX PNC International Equity Brian Hopkinson and Paul Nestro Bin Xiao of Polaris Capital Management joined the team 7/12
PRACX Putnam Research Fund George Gianarikas Neil Desai, previously a partner at Crosslink Capital 7/12
TWAAX Thrivent Partner Worldwide Allocation No one, but … DuPont Capital Management will become the sixth subadvisor.  It’s a fine fund but really, six management teams for $600 million in assets? 7/12
USGNX USAA Government Securities Didi Weinblatt has retired Donna Baggerly will again be lead manager. 7/12
USAIX USAA Income Didi Weinblatt has retired Matt Freund and Julianne Bass will take over. 7/12
EKWAX Wells Fargo Advantage Precious Metals No one, but … Oleg Makhorine joins the team. 7/12

 

Manager changes, June 2012

By Chip

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
ALOPX Allianz AGIC International Growth Opportunities Subadvisor, Allianz Global Investors Capital Management RCM Capital Management, with Andrew Neville as lead manager, assisted by Dennis Lai and Koji Nakatsuka 6/12
SSGRX BlackRock Energy & Resources Dan Rice is leaving under a dark cloud. Comanager, Denis Walsh, will take over with help from Dan Neumann. 6/12
BROAX BlackRock Global Opportunities Michael Carey was ousted Comanagers, Thomas Callan and Ian Jamieson, will stay. They will be joined by Nigel Hart. 6/12
BREAX BlackRock International Opportunities Michael Carey is out as comanager Comanagers, Thomas Callan and Ian Jamieson, will stay. They will be joined by Nigel Hart. 6/12
MDLRX BlackRock Large Cap Core Robert Doll is retiring, an announcement oddly coincident with a scandal.. CIO Christopher Leavy, will take on management duties as well. 6/12
BALPX BlackRock Large Cap Core Plus Robert Doll is retiring. CIO Christopher Leavy, will take on management duties as well. 6/12
MDLHX BlackRock Large Cap Growth Robert Doll is retiring. CIO Christopher Leavy, will take on management duties as well. 6/12
MDLVX BlackRock Large Cap Value Robert Doll is retiring. CIO Christopher Leavy, will take on management duties as well. 6/12
HRCVX Eagle Growth & Income No one, but . . . David Powers joins as a fourth portfolio manager 6/12
EVIBX Eaton Vance Income Fund of Boston Tom Huggins is no longer manager of several Eaton Vance funds. Michael Weilheimer will continue 6/12
KAUAX Federated Kaufmann Jonathan Gold Tom Brakel joins the team which includes Hans und Franz, managers since 1986.  The fund really is a shadow of its former self – bloated, overpriced, underperforming 6/12
FKASX Federated Kaufmann Small Cap No one, but . . . Tom Brakel joins the team. 6/12
FSDIX Fidelity Strategic Dividend & Income Chris Sharpe, who will be concentrating on the firm’s target-date lineups Current comanager, Joanna Bewick, will take the lead role, joined by Ford O’Neil, who heads up  Fidelity Total Bond (FTBFX) 6/12
FSICX Fidelity Strategic Income Chris Sharpe, who will be concentrating on the firm’s target-date lineups Current comanager, Joanna Bewick, will take the lead role, joined by Ford O’Neil, who heads up  Fidelity Total Bond (FTBFX) 6/12
FSRRX Fidelity Strategic Real Return Chris Sharpe Current comanager, Joanna Bewick, will take the lead role, joined by Ford O’Neil, who heads up  Fidelity Total Bond (FTBFX) 6/12
FTBFX Fidelity Total Bond No one, but . . . Jeff Moore will join Ford O’Neil as a comanager, as O’Neil steps up at several other Fidelity funds. 6/12
IFCAX ING Greater China Michael Chiu and Bratin Sanyal William Pang and Guy Uding, who joined earlier this year, will continue. 6/12
LETRX ING Russia Remco Vergeer Nathan Griffiths joins Angus Alexander Roberton 6/12
ASMMX Invesco Summit No one, but . . . Erik Voss will join the team of this endlessly mediocre offering 6/12
IVBAX Ivy International Balanced No one, but . . . W. Jeffrey Surles joins lead manager John Maxwell. 6/12
LZISX Lazard International Small Cap Equity Brian Pessin The rest of the team continues. 6/12
LISIX Lazard International Strategic Equity Brian Pessin The rest of the team continues. 6/12
SPAAX Legg Mason Capital Management All Cap Bill Miller is stepping down, in preparation for his retirement. He recently stepped down from managing Legg Mason Capital Management Value (LMVTX) as well. Jay Leopold will continue on. 6/12
LRRAX Legg Mason Strategic Real Return Andrew Purdy Patricia Duffy 6/12
LCFIX Lord Abbett California Tax Free No one, but . . . Paul Langlois joins existing comanager, Daniel Solender. 6/12
MGEMX Morgan Stanley Institutional Emerging Markets Comanager James Cheng is planning an end-of-year retirement Munib Madni and Samuel Rhee have joined the team 6/12
NMIEX Northern Multi-Manager International Equity Tradewinds Global Investors is no longer a subadvisor. Tradewinds has been removed as subadvisor on several funds after David Iben announced his departure. EARNEST Partners will be added as a subadvisor 6/12
GRAAX Pioneer Ibbotson Growth Allocation fund Peng Chen resigned as president of Ibbotson and is no longer listed as manager on Pioneer Ibbotson Asset Allocation series. Paul Arnold joins comanagers Scott Wentsel and Brian Huckstep. 6/12
PGEAX Putnam Global Energy Jessica Wirth Greg Kelly will join current comanager, Steve Curbow 6/12
PGTAX Putnam Global Technology George Gianarikas has left the firm. Brian Hertzog 6/12
PUGIX Putnam Global Utilities George Gianarikas has left the firm. Sheba Alexander 6/12
TFEQX Templeton Institutional Foreign Equity Series Gary Motyl, a key manager and CIO of Templeton, died last week. The rest of the team continues on. 6/12
SASPX Wells Fargo Advantage Asia Pacific No one, but . . . Alison Shimada joins Anthony Cragg as comanager 6/12
SCSAX Wells Fargo Advantage Common Stock No one, but . . . Thomas Wooden joins the team of Ann Miletti and Marina Carlson. 6/12
EKGAX Wells Fargo Advantage Global Opportunities No one, but . . . Oleg Makhorine has been added as a comanager 6/12

Manager changes, May 2012

By Chip

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
ACSCX American Century Small Cap Value James Pitman Benjamin Giele and Jeff John 5/12
BMCAX BlackRock Mid-Cap Value Equity Anthony Forcione Timothy Keefe 5/12
IRFAX Cohen & Steers International Realty Portfolio manager Scott Crowe is leaving the firm Jon Cheigh 5/12
CSRSX Cohen & Steers Realty Shares No one, but … Tom Bohjalian will join Jon Cheigh as comanager. 5/12
CSVAX Columbia Strategic Investor Emil Gjester and Jonas Patrikson have stepped down Steven Schroll, Laton Spahr, and Paul Stocking will be the new managers. They’ve delivered solid performance on other Columbia funds. 5/12
EVRAX Columbia Value & Restructuring David Williams, manager since inception, retired. Comanagers Nick Smith and Guy Pope remain. 5/12
FDSSX Fidelity Stock Selector All Cap No one, but … Gordon Scott joined the team 5/12
FTEMX Fidelity Total Emerging Markets No one, but … Greg Lee, an e.m. stock manager, became the 7th comanager 5/12
FRVLX Franklin Small Cap Value Y. Dogan Sahin has stepped down. Four comanagers remain. 5/12
GIEIX GE Institutional International Equity Paul Nestro and Brian Hopkinson Lead manager Ralph Layman and two comanagers remain 5/12
GUSIX GE Institutional U.S. Equity Thomas Lincoln The other comanagers remain. 5/12
HRSVX Heartland Select Value Comanager Hugh Denison has stepped down in anticipation of retirement. The comanagers remain. 5/12
IEDAX ING Large Cap Value David Powers Comanagers Robert Kloss and Christopher Corapi remain 5/12
JCUAX John Hancock II Currency Strategies J No one, but … Jeppe Ladekarl will join current managers Ken Ferguson and Dori Levanoni 5/12
JPSAX JPMorgan US Dynamic Plus Christopher Blum was promoted. Alonzo, Dennis Ruhl, and Pavel Vaynshtok 5/12
SSIAX Legg Mason Investment Counsel Social Awareness David Kafes has left as comanager. Aimee Eudy will join Ronald Bates as comanager 5/12
LAALX Leuthold Asset Allocation Long time co-manager, Andrew Engel died. The other comanagers remain. 5/12
LCORX Leuthold Core Investment Long time co-manager, Andrew Engel died. The other comanagers and Leuthold’s quant screens remain. 5/12
MGVAX MainStay Government No one, but … Steven Rich was added as comanager. 5/12
MACSX Matthews Asian Growth & Income Jesper Madsen, who led the fund after Andrew Foster departed to found Seafarer Capital, stepped down CIO Robert Horrocks and relative newbie Ken Lowe remain as comanagers 5/12
NTGAX Nuveen Tradewinds Global Resources David Iben, Alberto Jimenez Crespo, and Gregory Padilla are left to join Vinik Asset Management Emily Alejos and Drew Thelen, the firms new co-CIOs 5/12
OAKLX Oakmark Select Henry Berghoef, long-time co-manager, will retire at the end of July. Lead manager Bill Nygren will run the fund 5/12
PRBLX Parnassus Equity Income No one, but … Benjamin Allen is promoted to comanager. 5/12
CVFCX Pioneer Cullen Value Subadvisor Cullen Capital Management, including team leader and firm founder, James Cullen Edward “Ned” Shadek and John Peckham 5/12
TGGWX TCW Enhanced Commodity Strategy Claude Erb Tad Rivelle joins current comanagers Steven Kane and Bret Barker 5/12
BNIEX UBS International Equity No one, but … Stephan Maikkula was added as a comanager 5/12

Manager changes, April 2012

By Chip

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
XXXXX American Century’s Strategic Allocation funds and the firm’s Livestrong target-date series Irina Torelli, a portfolio manager on the asset-allocation team The other 26 remain 4/12
BJGQX Artio Global Equity Rudolph-Riad Younes and Dimitre Genov Keith Walter 4/12
CHASX Chase Growth Peter C. Wood retires. Edward S. Painvin, previously of Allianz-RCM 4/12
CMMZX Columbia Absolute Return Emerging Markets Macro Richard House and Agnes Belaisch, about whose performance you can say little.  Its closest competitor, Forward Credit Analysis Long/Short, has done a lot better but doesn’t focus on emerging markets. Nicholas Pifer and Jim Carlen 4/12
RFRAX Columbia Floating Rate No one, but … Ronald Launsbach joins the team 4/12
APIAX Columbia Multi-Advisor International Value Subadviser Tradewinds is out. Is this related to Dave Iben’s departure? Dimensional Fund Advisors and Mondrian Investment Partners remain as subadvisors 4/12
FIEUX Fidelity Europe Melissa Reilly Riesteard Hogan 4/12
FDEGX Fidelity Growth Strategie Steven Calhoun Chris Lee 4/12
FISEX Franklin Equity Income Frank Felicelli, manager since inception in 1988 Comanagers Alan Muschott, Ed Perks, and Matt Quinlin remain. 4/12
GCMAX Goldman Sachs Mid Cap Value Comanager Scott Carroll resigned. Other team members will assume his duties. 4/12
GIEYX GuideStone Funds International Equity Tradewinds Global Investors has been terminated as a sub-adviser, just a month after president, David Iben, announces that he’s leaving with three analysts. Ten other subadvisors remain. 4/12
ITTAX Hartford Advisers Irons and Peter Higgins, managers since 2005, are stepping down. Karen Grimes. 4/12
JFAMX JPMorgan Emerging Markets Equity Greg Mattiko Lead manager Austin Forey and comanager and CIO Richard Titherington remain on the fund 4/12
LMVTX Legg Mason Capital Management Value Trust Bill Miller leaves after 30 years.  Sad end to an overblown career. Sam Peters, his planned successor, will continue, as will assistant portfolio manager, Mary Chris Gay 4/12
MERGX Marsico Emerging Markets Charlie Wilson is the latest to leave the firm.  Wilson is the latest in a string of mid- to high-level departures Comanagers Munish Malhotra and Josh Rubin remain 4/12
MERDX Meridian Growth Founder and manager Richard Aster died on February 12, at the age of 72 from a traumatic head injury. Larry Cordisco, a former portfolio manager of Meridian Value (MVALX), returned to the firm to join William Tao.  Kevin O’Boyle, another talented returnee, will oversee research but does not carry a “manager” title 4/12
FASKX Nuveen Large Cap Value Kevin Earley and Brent Mellum Cori Johnson, Gerald Bren and Derek Sadowsky 4/12
FASEX Nuveen Mid Cap Value Kevin Earley and Brent Mellum Karen Bowie and David Chalupnik 4/12
QRAAX Oppenheimer Commodity Strategy Total Return Kevin Baum has resigned from the firm Comanager, Robert Baker, and bond component manager, Carol Wolfe, will remain. 4/12
POAGX Primecap Odyssey Aggressive Growth Howard Schow, comanager, died on Sunday, April 8, at the age of 84. Other comanagers remain. 4/12
POGRX Primecap Odyssey Growth Howard Schow Other comanagers remain. 4/12
POSKX Primecap Odyssey Stock Howard Schow Other comanagers remain. 4/12
PGCOX Putnam Global Consumer Timothy Codrington The existing comanagers remain 4/12
PHSTX Putnam Global Health Care Christopher Stevo The existing comanagers remain 4/12
EBERX Putnam Natural Resources John Morgan The existing comanagers remain 4/12
UMBWX Scout International Fund Gary Anderson Michael D. Stack 4/12
SSGFX Sextant Growth No one, but … Paul Meeks has been hired by advisor, Saturna Capital. 4/12
STRGX Stratton Multi Cap James Beers Andrew DiZio, John Affleck and Shawn Gallagher 4/12
STMDX Stratton Real Estate James Beers Andrew DiZio, John Affleck and Shawn Gallagher 4/12
PRGSX T. Rowe Price Global Stock Rob Gensler, once Price’s hottest young manager, is retiring. Dave Eiswert is taking over as manager 4/12
PRGTX T. Rowe Price Global Technology Dave Eiswert is leaving to take over PRGSX and TRGSX. Josh Spencer will move up. 4/12
TRGSX T. Rowe Price Institutional Global Equity Rob Gensler is retiring. Dave Eiswert is taking over as manager 4/12
TCOEX Tactical Offensive Equity Fund No one, but … Lui-Er Chen of Delaware Management Company is added as a sub-adviser 4/12
TFEMX Touchstone Emerging Markets Equity II Patricia Perez-Coutts Comanager, Stephen Way, will remain 4/12
TEMAX Touchstone Emerging Markets Equity Patricia Perez-Coutts Comanager, Stephen Way, will remain 4/12
BEAAX U.S Equity Alph Thomas Cole John Leonard 4/12
BNGEX UBS Global Equity Fund Nicholas Melhuish Nicholas Irish 4/12
BNVAX UBS US Equity Opportunity Thomas Cole John Leonard 4/12
BNEQX UBS US Large Cap Equit Thomas Cole John Leonard 4/12
VHCOX Vanguard Capital Opportunity Howard Schow, comanager, died on Sunday, April 8, at the age of 84. Other comanagers remain. 4/12
VPCCX Vanguard Primecap Core Howard Schow Other comanagers remain. 4/12
VPMCX Vanguard Primecap Howard Schow Other comanagers remain. 4/12
SFAAX Wells Fargo Advantage Index Asset Allocation Gregory Genung Petros Bocray 4/12
WMMFX Wilmington Multi-Manager International Fund Amanda M. Cogar All the rest remain 4/12

 

Manager changes, March 2012

By Chip

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.

Fund Out with the old In with the new Dt
American Beacon Treasury Inflation Protected Securities (ATPIX) William Quinn Seven comanagers remain. 3/12
Ariel Appreciation(CAAPX) Matthew Sauer is leaving to join Lateef Investment Management and perhaps help with the erratic Lateef Fund (LIMAX) John Rogers and Timothy Fidler will remain as comanagers. 3/12
BlackRock High Yield Bond (BHYAX) No one, but … Charlie McCarthy is a new comanager. 3/12
Buffalo China (BUFCX) No one, but … Yulin Li has been added as a comanager. 3/12
Davis Financial (RPFGX) Charles Cavanaugh is stepping down. Lead manager, Kenneth Feinberg, remains. 3/12
Dreyfus/Standish Fixed Income (SDFIX) Peter Vaream is out The rest of the comanagers remain
Fidelity Advisor Stock Selector Mid Cap (FMCDX) Comanager Michael Valentine Rayna Lesser 3/12
Fidelity Inflation-Protected Bond (FINPX) No one, but … Franco Castagliuolo joins the team. 3/12
Fidelity Series Inflation-Protected Bond Index (FSIPX) No one, but … Alan Bembenek will be a new comanager. 3/12
Fidelity Series Small Cap Opportunities No one, but … Eirene Kontopoulos joins the team 3/12
Fidelity Stock Selector Small Cap (FDSCX) No one, but … Eirene Kontopoulos joins the team 3/12
Fidelity Total International Equity (FTIEX) Robert von Rekowsky Ashish Swarup joins the existing managers, Jed Weiss and Alexander Zavratsky 3/12
GE Institutional Small-Cap Equity (GSVIX) Jeffrey Schwartz Marc Shapiro joins the remaining subadvisors 3/12
Hartford Advisers (ITTAX) Steven Irons Karen Grimes 3/12
Henderson International Opportunities(HFOAX) Iain Clark will no longer manage as of April 4, 2012. The eight other managers remain. 3/12
Invesco High Income Municipal (AHMAX) Gerard Pollard and Franklin Ruben The current comanagers remain. 3/12
Invesco Van Kampen High Yield Municipal (ACTHX) Gerard Pollard and Franklin Ruben The current comanagers remain. 3/12
JPMorgan Intrepid America (JIAAX) Christopher Blum, who has been appointed the head of global equity solutions at JP Morgan’s asset management division. Dennis Ruhl and Pavel Vaynshtok will be added as comanagers. 3/12
JPMorgan Intrepid Growth (JIGAX) Christopher Blum Dennis Ruhl and Pavel Vaynshtok 3/12
JPMorgan Intrepid Multi Cap (JICAX) Christopher Blum Dennis Ruhl 3/12
JPMorgan Intrepid Value (JIVAX) Christopher Blum Dennis Ruhl and Pavel Vaynshtok 3/12
Lazard U.S. Equity Value (LEVIX) Nicholas Sordoni, J. Richard Tutino Jr, and Ronald Temple as of May 31, 2012 Christopher Blake will join the management team 3/12
Legg Mason Batterymarch Global Equity (CFIPX) Adam Petryk is no longer the manager, but remains at the firm. No one new. 3/12
Legg Mason Batterymarch International Equity(LGIEX) Adam Petryk No one new. 3/12
Legg Mason Batterymarch S&P 500 Index (SBSPX) Adam Petryk No one new. 3/12
Legg Mason Batterymarch U.S. Small Cap Equity (LMSIX) Adam Petryk No one new. 3/12
Legg Mason Western Asset Strategic Income (SDSAX) No one, but … Christopher Orndoff joined the management team 3/12
Loomis Sayles Small Cap Value (LSCRX) No one, but … Jeffrey Schwartz joins Joseph Gatz as a comanager 3/12
MFS Massachusetts Investors Trust (MITTX), which has been around since 1924 and has seen several management changes in that time Nicole Zatlyn, comanager since 2005, steps down. Comanager, Kevin Beatty, will be joined by Ted Maloney 3/12
Natixis U.S. Multi-Cap Equity (NEFSX) No one, but … Jeffrey Schwartz joins Joseph Gatz as a comanager 3/12
Northern Enhanced Large Cap (NOLCX) Joseph Wolfe The other managers remain. 3/12
Northern Large Cap Value (NOLVX) Stephen Atkins The other managers remain. 3/12
Nuveen Tradewinds Global All-Cap (NWGAX) David Iben leaves to join Vinik Asset Management Emily Alejos and Drew Thelen will take over. 3/12
Nuveen Tradewinds Global Flexible Allocation(NGEAX) Iben and Isabel Satra are . . . yes. You guessed it, off to Vinik Asset Management Analyst Ariane Mahler will join the remaining manager, Michael Hart 3/12
Nuveen Tradewinds Global Resources(NTGAX) Iben, Crespo, and Gregory Padilla all going to Vinik Asset Management There hasn’t been a new manager announced yet. 3/12
Nuveen Tradewinds International Value(NAIGX) Alberto Jimenez Crespo follows Iben to Vinik Asset Management Peter Boardman remains as the sole manager. 3/12
Nuveen Tradewinds Value Opportunities (NVOAX) David Iben leaves to join Vinik Asset Management Two analysts, Joann Barry and Rowe Michels, will take the helm. 3/12
Old Mutual Focused (OBFVX), now re-named Touchstone Focused Longtime manager Jerome Heppelmann is being replaced as part of Touchstone’s acquisition of 17 Old Mutual Funds. Fort Washington Investment Advisors 3/12
Principal Large Cap Value III (PLVIX) No one, but … Todd Williams joined the team 3/12
Principal Small Cap Value II (PPVIX) No one, but … Joseph Chi, Jed Fogdall, and Henry Gray joined the team 3/12
Prudential High-Yield (PBHAX) No one, but … Ryan Kelly has been added as portfolio manager. 3/12
Scout Global Equity Fund William B. Greiner has resigned as CIO of Scott Investments and is no longer lead manager. Gary Anderson and James A. Reed II will serve as co-lead portfolio managers. 3/12
Sentinel Balanced(SEBLX) No one, but . . . Dan Manion will become the lead manager, joined by Jason Doiron. 3/12
Sentinel Government Securities (SEGSX) No one, but . . . Jason Doiron joins. 3/12
Sentinel International Equity (SWRLX). Stacey Ho is stepping down The rest of the team remains. 3/12
Sentinel Short Maturity Government(SSIGX) No one, but . . . Jason Doiron joins. 3/12
Sentinel Sustainable Growth Opportunities (WAEGX), re-named as Sentinel Sustainable Mid Cap Opportunities on March 29, 2012. Comanagers Elizabeth Bramwell and Kelli Hill are stepping down, Bramwell for retirement. Betsy Pecor, Carole Hersam, and Matthews Spitznagle 3/12
Wells Fargo Global Opportunities(EKGAX) Francis Claro has left the firm. A small fund shop now owned by Wells Fargo, EverKey. 3/12
Westwood Balanced (WHGBX) Susan Byrne.  Byrne really has had a remarkable life, by the way. The rest of the team remains in place with Byrne as a mentor and guide. 3/12
Westwood Large Cap Value (WHGLX) Susan Byrne The rest of the team remains in place with Byrne as a mentor and guide. 3/12

 

Manager changes, February 2012

By Chip

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.

Fund Out with the old In with the new Dt
AllianceBernstein Global Real Estate Investment (AREAX). No one, but . . . Eric Franco, a current manager at International Value will assume the lead role. 2/12
AllianceBernstein Global Value (ABAGX) No one, but . . . Avi Lavi and Takeo Aso have joined the team. 2/12
AllianceBernstein Greater China (GCHAX) Richard Chow Jean Van De Walle 2/12
AllianceBernstein International Value (ABIAX) No one, but . . . Two managers have been added to the team 2/12
AllianceBernstein Large Cap Growth (APGAX) Manager Scott Wallace and his team. This is the fifth change since 2003. Frank Caruso 2/12
American Century Mid Cap Value (ACLAX) No one but . . . Brian Woglom joins the team as a portfolio manager. 2/12
Artisan International Small Cap (ARTJX) No one, but … Charles-Henri Hamker has been named comanager with Mark Yockey who’s run the fund since inception in 2001 2/12
Artisan International (ARTIX) No one, but … Charles-Henri Hamker and Andrew Euretig have been named associate managers, with Mark Yockey who’s run the fund since inception in 1995 2/12
Artisan Mid Cap Value(ARTQX), Artisan Small Cap Value (ARTVX), and  Artisan Value (ARTLX) No one, but . . . Daniel Kane has been named associate manager with the winning team of Scott Satterwhite, Jim Keiffer, and George Sertl 2/12
Aston/Crosswind Small Cap Growth (ACWDX) Subadvisor, Crosswind Investments, is out as Aston follows manager, Andrew Morey, to . . .  . . . new subadvisor, Lee Munder Capital Group. 2/12
Brandywine Blue (BLUEX) John Regard Scott Gates 2/12
Brandywine (BRWIX) – founded by Foster “just put an aspirin between your knees” Freiss John Regard Scott Gates 2/12
CSC Small Cap Value (CSCSX) No one, but . . . Cove Street Capital is now advisor rather than sub-advisor 2/12
Dreyfus Intermediate Municipal Bond (DITEX) No one, but . . . Christine Todd joins Thomas Casey and Steven Harvey as a portfolio manager 2/12
Dreyfus Municipal Bond (DRTAX) and a bunch of other Dreyfus muni funds James Welch is stepping down as comanager. The team remains. 2/12
Fidelity Balanced (FBALX) George Fischer, who is taking a different position within the firm. Pramod Atluri will lead the existing team. 2/12
Fidelity Puritan (FPURX) George Fischer, who is taking a different position within the firm. Pramod Atluri will lead the existing team. 2/12
Fidelity Select Banking(FSRBX), Communications Equipment (FSDCX), Air Transportation (FSAIX), Transportation (FSRFX),  Defense & Aerospace (FSDAX), and Construction & Housing (FSHOX). No one, yet, but . . . Several analysts have been promoted to comanager roles. Hmmm. 2/12
Fidelity Stock Selector Small Cap(FDSCX) No one, but . . . Anmol Mehra joins the current team. 2/12
JPMorgan Asia Equity (JAEAX) Joshua Tay and Patrick Chiu Edward Pulling and Howard Wang join as managing directors. Pauline Ng remains. 2/12
Legg Mason BW Absolute Return Opportunities (LROAX) No one but . . . Brian Hess joined the management team 2/12
Legg Mason BW Global Bond Opportunities (GOBAX) No one but . . . Brian Hess joined the management team 2/12
Legg Mason BW International Opportunities Bond(LMOTX) No one but . . . Brian Hess joined the management team 2/12
Lord Abbett Emerging Markets Currency (LDMAX) No one, but . . . David Ritt joins Leah Traub as comanager 2/12
Meridian Equity Income (MEIFX) Founder, Richard F. Aster, passed away. James England, manager of Meridian Value (MVALX), will join comanager, James O’Connor. 2/12
Meridian Growth (MERDX) Founder, Richard F. Aster, passed away. James England, manager of Meridian Value (MVALX), will join current comanager, William Tao. 2/12
Northern Multi-Manager International Equity (NMIEX) No one, but . . . They added Northern Cross as a subadvisor 2/12
PACE Alternative Strategies Investments (PASIX) Goldman Sachs is no longer an advisor. Four other sub- advisors remain but given the fund’s tepid performance … 2/12
Pioneer Research (PATMX) Kim Galle The rest of the team remains. 2/12
Schwab Global Real Estate(SWASX) Dionisio Meneses Jr. Paul Alan Davis 2/12
Third Avenue Value (TAVFX) Marty Whitman will leave after managing the fund since he launched over 20 years ago. Ian Lapey, comanager since 2009, will take the lead. 2/12
Thornburg Core Growth(THCGX ) Alex Motola, a very talented manager who’s retiring in 2012. Tim Cunningham and Greg Dunn, currently associate portfolio managers, will take over 2/12
Thornburg International Growth (TIGAX) Alex Motola, who has managed this fund since inception, is retiring this year. Tim Cunningham and Greg Dunn, currently associate portfolio managers, will work with Motola for a few months more and then take over 2/12
Vanguard Equity-Income (VEIPX) No one, but . . . James Troyer and Michael Roach, both long time employees, join James Stetler and Michael Reckmeyer. 2/12
Vantagepoint Equity Income (VPEIX) Mark Giambrone, of Barrow, Hanley, Mewhinney & Strauss, is no longer running a portion of the fund’s assets. The rest of the team – folks from T Rowe Price and Longleaf – remains. 2/12
Vantagepoint Growth (VPGRX) All  three subadvisors were fired : Legg Mason, Tukman Grossman, and D.G. Capital Management. Atlanta Capital Management and Victory Capital Management.  Given that the fund has sucked for years, shareholders are not likely to be worse off. 2/12
Virtus Balanced Allocation (HIBZX) Carol Lyons and Maureen Svagera Daniela Mardarovici and Peter Arts join Daniel Sido and Thomas Lettenberger as portfolio managers 2/12
Wells Fargo Advantage Diversified International (SILAX) Francis X. Claro Jeff Everett, of the recently purchased EverKey Global Partners joins as a comanager as does Dale Winner. 2/12
Wells Fargo Advantage International Equity (WFEAX) Francis X. Claro Jeff Everett, of the recently purchased EverKey Global Partners, joins as a comanager as does Dale Winner. 2/12
Winslow Green Growth(WGGFX) Elizabeth Levy left Karina Funk and David Powell remain. 2/12

 

Manager changes, January 2012

By Chip

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.

Fund Out with the old In with the new Dt
American Beacon International Equity (AAIPX) Boston Company Asset Management “has been terminated.” Yikes. Causeway Capital Management, Lazard Asset Management, and Templeton Investment will remain. 01/12
Fidelity Low-Priced Stock (FLPSX) No one, but . . . Joel Tillinghast has returned from a four month leave-of-absence.  Sadly, Fido admits this is part of a succession plan. 01/12
Fidelity Overseas (FOSFX) Ian Hart, whose first three years hugged the index and whose last three sagged well beneath it Vincent Montemaggiore 01/12
Fidelity Stock Selector Small Cap (FDSCX) Charles Myers has left the team Five other managers remain. 01/12
Fidelity Series Small Cap Opportunities (FSOPX) Charles Myers has left the team The same five managers who’ve run this and Stock Selection Small Cap.  Odd that this fund, open only to other Fido funds and their managers, is so dramatically better than their other charge. 01/12
Fidelity Trend (FTRNX) Jeff Feingold, who was supposed to manage Magellan and four other funds, is now concentrating solely on Fidelity Magellan (FMAGX) Dan Kelley 01/12
Fidelity Large-Cap Growth (FSLGX) Jeff Feingold, latest lamb on the Magellan altar Dan Kelley 01/12
Fidelity Advisor Strategic Growth (FTQAX) Jeff Feingold Dan Kelley 01/12
Fidelity Value Discovery (FEQTX) Scott Offen, who now manages Fidelity Equity Income II (FEQTX) Sean Gavin 01/12
First Eagle Gold (FEGIX) Abhay Deshpande Lead manager Rachel Benepe and associate manager Chris Kwan will remain 01/12
INTECH International (JMIIX), U.S. Core (JIRMX),  U.S. Growth (JRMGX), and U.S. Value (JRSIX) Robert Fernholz, although he will remain at Intech in a consulting role. Vassilios Papathanakos 01/12
MFS International Growth (MGRAX) No one, but . . . Kevin Dwan will join David Antonelli as a comanager 01/12
Morgan Stanley Institutional Core Fixed Income (MDIAX), Core Plus Fixed Income (MFXAX), and Long Duration funds (MSFVX) W. David Armstrong and Sanjay Verma No one. The other comanagers will keep going. 01/12
Oakmark Equity & Income (OAKBX) Ed Studzinski retired at the end of 2011, for whatever reason Oakmark offered only one week’s notice of his departure after 12 years on the fund. Comanager Clyde McGregor, who has been with the fund since 1995, will continue and will receive some additional analytical support. 01/12
Oppenheimer International Small Company (OSMAX) No one. The previous manager, Rohit Sah left last year. Rezo Kanovich will be the new lead manager. 01/12
The Pax World Global Women’s Equality Fund (PXWIX) Sujatha R. Avutu, Senior Portfolio Manager since 2007 Ivka Kalus-Bystricky 01/12
Putnam Global Utilities (PUGIX) Long term manager Michael Yogg. George Gianarikas 01/12
Sentinel Capital Growth (SICGX),Sentinel Growth Leaders (SIGLX), and Sentinel Sustainable Growth Opportunities (CEGIX) Elizabeth Bramwell, lead portfolio manager and investing icon, retires in March 2012 Kelli Hill, who served three years as one of 11 co-managers of Old Mutual Large Cap Growth (OILLX) 01/21
Third Avenue International Value (TAVIX) No one, but . . . Matthew Fine will join Amit Wadhwaney as a comanager 01/12
Virtus Tactical Allocation (NAINX) No one, but . . . Christopher Kelleher will join as comanager of fixed income assets 01/12
Walden Balanced Fund (WSBFX) Long-time manager Stephen Moody Walter Apfel, like Moody a Boston Trust employee 01/12

 

Manager changes, December 2011

By Chip

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.

Fund Out with the old In with the new Dt
Columbia Select Small Cap (ESCAX) The whole dang management team Wayne Collette, George Myers, Lawrence Lin, and Brian Neigut 12/11
Fidelity Select Wireless (FWRLX) Gavin Baker leaves here, remains at Fido OTC Matthew Drukker will join comanager Kyle Weaver 12/11
Goldman Sachs Balanced (GSBFX) James Clark, the latest high-level departure from GSAM’s funds. The three other managers will remain. 12/11
Goldman Sachs Large Cap Value (GSLIX) Dolores Bamford The other managers will remain. 12/11
Goldman Sachs Mid Cap Value (GSMCX) John Arege The other managers will remain. 12/11
Hartford Total Return Bond (ITBAX). An undistinguished in-house staff headed by Nasri Toutoungi As of Q1/2012, Wellington Management 12/11
ING Global Natural Resources (LEXMX) and ING Global Resources (IGRSX) David Powers Joseph Bassett and John Bailey will remain 12/11
JHancock Large Cap Equity (TAGRX) Roger Hamilton and Timothy Malloy Walter McCormick and Sandy Sanders 12/11
Neuberger Berman Partners (NPRTX) Basu Mullick, who’d been around since 1998 and who was disturbingly comfortable with volatiility Eli Salzmann 12/11
Neuberger Berman Regency (NBRVX) Basu Mullick, who’d been high beta / low alpha since 2005 Michael Greene and his mid-cap intrinsic-value team 12/11
Oppenheimer Quest International Value (QIVAX) Dominic Freund Randall Dishmon 12/11
Osterweis Fund (OSTFX) Steve Moore The other five managers including leader, John Osterweis, will remain. 12/11
USAA Precious Metals and Minerals (UIPMX) Mark Johnson will retire in March 2012. Comanager, Dan Denbrow, will forge on. 12/11

Manager changes, November 2011

By Chip

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.

Fund Out with the old In with the new Dt
American Century International Value Fund (ACVUX) Managers Gary Motyl and Neil Devlin Armando Lacayo and Elizabeth Xie 11/11
Baron Fifth Avenue Growth (BFTIX) Randall Haase Alex Umansky, previously of Morgan Stanley 11/11
Columbia LifeGoal Growth (NLGIX), Columbia LifeGoal Balanced Growth (NBIAX), Columbia LifeGoal Income & Growth (NLGAX), and Columbia LifeGoal Income (NLFAX) Kent Bergene and Kent Peterson Melda Mergen and Beth Vanney 11/11
Columbia Overseas Value (COVIX) No one, but . . . Colin Moore joins the team 11/11
Dreyfus High Yield Municipal Bond (DYBIX) No one, but . . . Jeffrey Burger joins as a manager, to work with  current manager James Welch 11/11
Dreyfus Intermediate Municipal Bond (DITEX) No one, but . . . Thomas Casey joins as a manager, to work with  current manager Steven W. Harvey 11/11
Fidelity Balanced(FBALX) and  Fidelity Advisor Balanced (FABLX) Matthew Friedman Tobias Welo 11/11
Fidelity Emerging Markets Discovery Fund (FEDDX) It’s a new fund Ashish Swarup 11/11
Fidelity Small Cap Growth(FCPGX) Lionel Harris Pat Venanzi 11/11
Fidelity Small Cap Stock(FSLCX) Andy Sassine Lionel Harris 11/11
Fidelity Total Emerging Markets (FTEMX) It’s a new fund John Carlson 11/11
Invesco Global Equity (GTNDX)and Invesco Structured Core (SCAUX) Ralph Coutant Michael Abata joins the team 11/11
Legg Mason Capital Management Value Trust (LMVTX) Bill Miller Comanager Sam Peters will become lead portfolio manager 11/11
Marshall Emerging Markets Equity (MIEMX) subadvisor Trilogy Global Advisors M&I Investments Management 11/11
Oppenheimer Quest Opportunity Value (QVOPX) Emmanuel Ferreira Michelle Borré 11/11
Templeton BRIC (TABRX), Templeton Emerging Markets Small Cap (TEMMX), and Templeton Asian Growth No one, but . . . The new team of Mark Mobius, Allan Lam, Dennis Lim, and Tom Wu. 11/11
Templeton Frontier Markets (TFMAX) No one, but . . . Current solo manager Mark Mobius, will now be joined by Allan Lam, Dennis Lim, and Tom Wu. 11/11

Manager changes, Archive

By Editor

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.

Fund Out with the old In with the new Date
Absolute Opportunities (AOFOX) No one’s out Pine Cobble Capital joins five other institutional firms sub-advising the fund. 07/11
Alger Health Sciences (AHSAX) David Farhadi Dan Chung and Maria Liotta. Chung, Alger’s CIO/CEO, has helped run the fund since 2005 05/11
Allianz RCM Disciplined International Equity (RAIGX). Ara Jelalian Steven Berexa 08/11
Allianz RCM Global Commodity Equity (ARMAX), formerly Allianz RCM Global Resources No one, but . . . Alec Patterson joined the management team and now co-manages with Paul Strand 09/11
Alpine Cyclical Advantage Property Fund (EUEYX) No one’s out . . . David Kruth, who has experience as a Goldman Sachs global real estate manager, joins as an “associate manager” 04/11
Alpine Dynamic Dividend (ADVDX) Andrew Kohl The rest of the portfolio team (Jill Evans, Kevin Shacknofsky, Joshua Duitz) is joined byBrian Hennessey. 04/11
Altegris Managed Futures Strategy (MFTAX) Rodney Square Management Altegris Advisors is hunting for a new manager. In the interim, they’ll run the fund themselves. 07/11
American Century International Bond (BEGBX) No one, but . . . Simon Chester joined the management team 08/11
Aston/Barings International (ABIIX) Nathan Griffiths Former co-manager David Bertocchi becomes the lead manager. 04/11
Aston/Fortis Real Estate (AARIX) Fortis Investment Management Harrison Street Securities, which will occasion a renaming to Aston/Harrison 07/11
BlackRock International Bond Portfolio (BIIAX) Andrew Gordon, who’s been with the fund since 1997 Scott Thiel joins Yoni Saposh 08/11
BlackRock Science & Technology Opportunities (BGSAX) No one, but . . . Paul Ma joined the management team of Thomas Callan, Jean Rosenbaum, and Erin Xie. 09/11
BlackRock World Income Fund (MDWIX) Andrew Gordon, who’s been with the fund since 2006 Scott Thiel joins Yoni Saposh 08/11
Buffalo China (BUFCX) No one, but . . . Shelly Ma joins as a co-manager on the steadily-improving BUFCX. In the past five years it has trailed 98% of its peers, then 96%, 91%, 69% and – over the first three quarters of 2011, a breakthrough – 49%. 09/11
Buffalo High Yield (BUFHX) Kent Gasaway The rest of the management team remains in place 09/11
Buffalo International (BUFIX) No one, but . . . Shelly Ma joins as a co-manager, whose new fund is merely “consistently mediocre” rather than “eye-watering” (see Buffalo China) 09/11
Buffalo Large Cap (BUFEX) Grant Sarris, in part of a larger management realignment The rest of the management team remains in place 09/11
Calvert Bond (CSIBX) Gregory Habeeb Matt Duch 09/11
Calvert Income (CFICX) Gregory Habeeb Michael Abramo 09/11
Calvert Large Cap Growth (CLCIX) John Montgomery, president of Bridgeway A team from Atlanta Capital Management will run the fund until its merger into Calvert Equity (CSIEX), which they also run. 05/11
Calvert Social Index (CSXAX) Kevin Yousif Eric Lessnau and David Jones 05/11
Columbia Dividend Income (LBSAX) No one goes but . . . David King and Michael Barclay join Richard Dahlberg and Scott Davis 04/11
Columbia Emerging Markets Opportunity (IDEAX) Vanessa Donegan Irina Miklavchich and existing manager Rafael Polatinsky. 05/11
Columbia Global Equity (IGLGX) Andrew Holliman Esther Perkins joins current co-manager Stephen Thornber 06/11
Columbia Global Extended Alpha (RTAAX) Andrew Holliman Stephen Thornber and Jeremy Podger. 06/11
Columbia Mortgage and Asset Backed (NMTGX) Lee Reddin Michael Zazzarino, who has been co-manager of the fund since 2007, will be lead manager. 09/11
Davidson Multi-Cap Equity Fund William B. Whitlow is retiring The lead manager, Brian Clancy, remains but gains a 7th co-manager, Paul Condrat 08/11
Dreyfus Global Sustainability (DGYAX) Five new co-managers from Mellon Capital were added in mid-April. 04/11
DWS Climate Change (WRMAX) Nicolas Huber Andrew Pidden comes in, and the fund becomes DWS Clean Tech 08/11
DWS Emerging Markets Equity (SEKAX) Thomas Gerhardt who joined this modestly regrettable $300 million fund got canned. Good question. In a particularly cruel shot, DWS announced that “until May 9, 2011,” co-manager Rainer Vermehren is in charge. Vermehren joined the same day as Gerhardt and appears slated to be employed seven weeks longer. 04/11
DWS Gold & Precious Metals (SGDAX) Pierre Martin The rest of the management team remains in place 09/11
DWS International (SUIAX) Nikolaus Poehlmann, Andreas Wendelken, and Mark Schumann – another undistinguished team that was hired just after the Emerging Markets team. Jason Inzer and Thomas Voecking who, according to company documents, will sort of collate the recommendations of thousands of analysts 04/11
DWS Strategic Value (KDHAX) Volker Dosch, Oliver Pfeil, and Thomas Schuessler – who were undistinguished in the execution of their post. Jason Inzer and Thomas Voecking (see DWS International) 04/11
Eagle Growth & Income Fund (HRCVX) for reasons unclear (it’s been a great fund), Thornburg Investment Management has been terminated and an in-house team (Edmund Cowart, David Blount and John Pandtle) replaces them. They manage a billion in “other accounts” but no funds. 04/11
Federated Balanced Allocation (BAFAX) John Leibee Founding managers Hans Utsch and Lawrence Auriana, who have been here since 1986, lead a five-person management team. 07/11
Federated Capital Appreciation (FEDEX) Carol Miller James Grefenstatte joins Dean Kartsonas 05/11
Federated Capital Income (CAPAX). No one, but . . . Christopher Smith joined the management team 08/11
Federated Kaufmann (KAUAX) John Leibee Hans und Franz live on! Which is to say the founding managers, Hans Utsch and Lawrence Auriana, who have been here since 1986, continue to lead a five-person management team. 07/11
Federated Kaufmann Large Cap (KLCAX) John Leibee Founding managers Hans Utsch and Lawrence Auriana, who have been here since 1986, lead a five-person management team. 07/11
Fidelity Advisor Equity Income (FEIAX) Stephen Petersen James Morrow and Adam Kramer 04/11
Fidelity China Region (FHKCX) Joseph Tse, who has a great 2010 and good 2011 Bobby Bao, who manages some of Fidelity’s Canadian funds (AsiaStar) and portions of their Pyramis portfolios 08/11
Fidelity Commodity Strategy (FFCSX) Jeffrey Adams, who works for Fido’s quant Geode arm Bobe Simon, Lou Bottari, Patrick Waddell, Maximilian Kaufman, and Eric Matteson. 05/11
Fidelity Income Replacement and Jonathan Shelno Andrew Dierdorf and new manager Christopher Sharpe 07/11
Fidelity International Value (FIVLX) George Stairs, who I decried as a mediocre Putnam manager when Fidelity hired him Alexander Zavratsky 09/11
Fidelity Japan (FJPNX) Robert Rowland Rei Shigekawa. This change was profiled with some concern by Chuck Jaffe of CBS/Marketwatch. 04/11
Fidelity Magellan (FMAGX) Harry Lange, the third Fidelity superstar to flame-out here Jeffrey Feingold becomes the fourth Fidelity superstar to fling himself on Lynch’s Legacy 09/11
Fidelity NASDAQ Composite Index (FNCMX) Jeffrey Adams, another Geode guy Bobe Simon, Lou Bottari, Patrick Waddell, Maximilian Kaufman, and Eric Matteson. 05/11
First Eagle Gold (SGGDX) No one Chris Kwan joined Abhay Deshpande and Rachel Benepe. 06/11
First Investors Blue Chip (FIBCX) Matthew Wright Edwin Miska and Sean Reidy 05/11
Forward Emerging Markets (FEMMX) Nidhi Mahurkar Peter Jarvis. A solid fund, team run, that’s ground through 23 managers. 05/11
Forward Funds’ Forward Growth (FFGRX) Peter J. Niedland The rest of the management team remains in place 09/11
Forward Growth Fund Peter J. Niedland is “hereby deleted” Mr. Niedland was a recent addition to the portfolio team, the rest of which remains. 08/11
GAMCO Westwood Mighty Mites (WEIMX) No one. Elizabeth Lilly joins the existing team of Mario Gabelli, Laura Linehan, Walter Walsh 07/11
Generation Wave Growth (GWGFX) Jeffrey Middleswart Gerry Sullivan, who also manages the quant Industry Leaders fund (ILFIX). GS is the 10thmanager in 10 years, with the changes here paralleling changes in Vice Fund 07/11
ING Equity Dividend (IEDAX) Christopher Corapi joined the management team 05/11
ING Global Bond (INGBX). No one, but . . . Robert Robis joins Michael Mata and Christine Hurtsellers. 08/11
ING Global Equity Dividend (IAGEX) Moudy El Khodr Bruno Springael will join Nicholas Simar, and Herman Klein. 05/11
ING Global Opportunities (IAFAX) Tjeert Keijzer and Tycho van Wijk Huub van der Riet and Alex van der Laan join Dirk-Jan Verzuu on this sad sack little fund. 05/11
ING Global Resources (IGRAX) No one, but . . . John Bailey became the third c0-manager 08/11
ING International Small Cap Multi-Manager (NTKLX) Qi Zeng Patrick McCafferty, who is part of the Acadian Management sleeve of the portfolio 04/11
ING International Value (NIVAX) Glenn Carlson, Brent Woods, Jim Brown, Amelia Morris, Brent Fredberg, Jeffrey Germain, and Paul Hechmer Marin Jansen, David Rabinowitz, and Joseph Vultaggio. 05/11
ING Janus Contrarian (IJCAX) Janus Capital Management ING Investment Management, though the fund will merge into ING Growth and Income in 2012. 07/11
Invesco Global (ATKAX) Heather Peirce Dana Love, her former co-manager 04/11
Invesco Global Equity (GTNDX) Michael Fraikin Ralph Coutant and Andrew Waisburd join Uwe Draeger, Karl-Georg Bayer and Jens Langewand 05/11
Invesco Global Growth (AGGAX) “Senior” portfolio manager Barrett Sides retires Sides’ three co-managers will carry on without him. It’s a mediocre, but not bad, fund. 06/11
Invesco International Growth (AIIEX) “Senior” portfolio manager Barrett Sides is retiring but won’t be missed enough to be replaced. It’s a very solid fund with a well-established team. This is the 8th Invesco fund to see a manager change since May 2011. 06/11
Invesco Leisure (ILSAX) Jonathan Mueller Ido Cohen and existing manager Juan Hartsfield. 05/11
Invesco Select Real Estate Income (ASRAX) James Trowbridge Joe Rodriguez, Jr., Mark Blackburn, Paul Curbo, and Darin Turner. 05/11
Invesco Small Companies (ATIAX) Ted Chisholm Robert Mikalachki, Virginia Au and Jason Whiting 04/11
Invesco Structured Core (SCAUX) Anthony Shufflebotham Daniel Tsai and Andrew Waisburd get added to the existing team 05/11
Janus Contrarian (JACNX) David Decker who has run the fund since ’96. Very independent portfolio, very high volatility. Dan Kozlowski. DK left Janus to run a hedge fund. Apparently part of the deal to secure his return was having Janus become a partner in his hedge fund. 05/11
Janus Fund (JANSX) Daniel Riff leaves to become sole manager of Janus Long/Short Burt Wilson, who has been with Janus for six years, joins Jonathan Coleman who has co-managed the fund since 2007 05/11
Janus Global Bond (JGBAX) No one but. . . Chris Diaz was added as a third manager 05/11
Janus Global Technology (JAGTX) Barney Wilson Brad Slingerland, who ran the fund with Wilson in 2006-08. He’ll Tweet for you as bradsling. 05/11
Janus Long-Short (JALSX) David Decker whose record is low correlation, high risk, modest returns Daniel Riff, who has been comanaging the fund, will become the sole manager 05/11
John Hancock Greater China Opportunities (JCOAX) No one is going but Kai Kong Chay joined the management team of Terrance Pak Hing Chum, and Ronald Chan. 05/11
JPMorgan Asia Equity (JAEAX Andrew Swan Joshua Tay, Pauline Ng, and new manager Patrick Chiu. 05/11
JPMorgan Asia Equity (JAEAX) No one, but . . . Patrick Chiu joined the management team 08/11
JPMorgan Multi-Sector Income (JSIAX) Jon Jonsson The rest of the portfolio team (Robert Michele and Iain Stealey) are joined by Nicholas Gartside and Matthew Pallai. 04/11
Legg Mason Capital Management All Cap Fund (SPAAX) David Nelson Jay Leopold and Bill Miller remain at this overpriced underperformer. 04/11
Loomis Sayles Global Equity and Income (LGMAX) Mark Baribeau Daniel Fuss, David Rolley, and Warren Koontz 05/11
Loomis Sayles Small Cap Value (LSCRX) Daniel Thelen Joseph Gatz 05/11
Lord Abbott allocation funds, generally A committee The Chairman. Robert Gerber is now the solo manager, in place of a management committee which he formerly chaired. 08/11
MainStay International Equity (MSEAX) Rupal Bhansali Edward Ramos 06/11
Managers AMG FQ Tax-Managed U.S. Equity (MFQAX) Andrew Berkin David Chrisman 06/11
Managers AMG FQ U.S. Equity (FQUAX) Andrew Berkin David Chrisman 06/11
Managers Cadence Capital Appreciation No one, but . . . Robert Ginsberg, formerly of Invesco and Putnam, joined the management team 08/11
Managers Cadence Emerging Companies No one, but . . . Robert Ginsberg joined the management team 08/11
Managers Cadence Focused Growth No one, but . . . Robert Ginsberg joined the management team 08/11
Managers Cadence Mid-Cap No one, but . . . Robert Ginsberg joined the management team 08/11
Marshall Mid-Cap Value (MRVIX) No one goes but . . . Gregory Dirkse and Brian Janowski join Matthew Fahey in running the fund. 04/11
Marsico 21st Century (MXXIX) Cory Gilchrist, who was very optimistic about an economic turnaround Brandon Geisler, who isn’t. 09/11
Marsico Global (MGLBX), Cory Gilchrist James Gendelman and Tom Marsico 09/11
MassMutual Select Diversified International (MMZAX) AllianceBernstein Gerd Woort-Menker, Jeroen Huysinga, and Georgina Perceval Maxwell of JP Morgan 06/11
MassMutual Select Overseas (MOSAX) AllianceBernstein Gerd Woort-Menker, Jeroen Huysinga, and Georgina Perceval Maxwell of JP Morgan will join teams from Harris Associates and MFS. 06/11
MFS International Growth (MGRAX) No one In January 2012, Kevin Dwan joins David Antonelli. No explanation for the unusually long lead time. 07/11
Morgan Stanley Global Strategist (SRTAX) No one Cyril Moullé-Berteaux joins Mark Bavoso 07/11
Morgan Stanley Institutional Balanced (MPBAX) No one Cyril Moullé-Berteaux joins Mark Bavoso 07/11
Nationwide International Value (NWVAX) AllianceBernstein UBS Global Asset Management 06/11
Nuveen Strategy Balanced Allocation (FSGNX), No one, but . . . James Colon joins existing manager David Cline 06/11
Nuveen Strategy Conservative Allocation (FSFIX) No one, but . . . James Colon joins existing manager David Cline 06/11
Nuveen Strategy Growth Allocation (FAGSX) No one, but . . . James Colon joins existing manager David Cline 06/11
Oakmark International Small Cap (OAKEX) No one’s leaving Michael Manelli, an international equities analyst, joined David Herro who has managed the fund since inception. Herro manages three funds and serves as CIO, so this might simply be stress relief. 05/11
Old Mutual TS&W Mid-Cap Value (OTMAX) John Pickler Brett Hawkins 06/11
Oppenheimer Main Street Small & Mid Cap (OPMSX) Benjamin Ram Raymond Anello joins Matthew Ziehl and Raman Vardharaj 05/11
Penn Series Small Cap Value James B. Otness is being phased out by 12/31/11 The rest of the team is going to work just a bit harder. 08/11
PIMCO Emerging Markets Bond (PAEMX) No one, but . . . Ramin Toloui will be joined by Michael Gomez 09/11
PIMCO Global Advantage Strategy (PGSAX) No one, but . . . Andrew Balls was added as co-manager 09/11
Principal SmallCap Blend (PLLAX), Thomas Morabito Brian Pattinson will also join the management team 08/11
Principal SmallCap Growth (PMAAX). Thomas Morabito Brian Pattinson will also join the management team 08/11
Principal SmallCap Value (PSUAX), Thomas Morabito Phil Nordhus and Brian Pattinson 08/11
Quant Small Cap (QBNAX) Matt Williams Robert von Pentz and Rhys Williams 04/11
Rochdale Fixed Income Opportunities (RIMOX) Stefan Pinter, Theodore Stohner, and Maxim Matveev of GML Capital have been added to the teams managing the fund. The other teams are from Seix Investment Advisers and Federated. 06/11
RS Small Cap Growth (RSEGX) Allison Thacker, one of four co-managers Three co-managers remain. Ms. Thacker is leaving to manage Rice University’s $4 billon endowment. 09/11
RS Technology (RSIFX) Allison Thacker Three comanagers remain. Ms. Thacker is leaving to manage Rice University’s $4 billon endowment. 08/11
Russell Emerging Markets (REMAX) T. Rowe Price Delaware Management Company and Victoria 1522 Investments join five other institutional teams already on the fund 05/11
Russell Tax-Managed US Large Cap (RTLAX) Turner Investment Partners (to whom this happens a lot) Sustainable Growth Advisers, which joins four other institutional teams on the fund 05/11
Russell US Quantitative Equity (REQAX) No one . . . Russell decided that four sub-advisers weren’t enough, so they added PanAgora Asset Management 05/11
Russell US Small & Mid Cap (REBSX) Robert Kuharic Jon Eggins 05/11
Schwab Core Equity (SWANX) Vivienne Hsu The rest of the management team remains in place 09/11
Schwab Dividend Equity (SWDSX) Vivienne Hsu The rest of the management team remains in place 09/11
Schwab Premier Equity (SWPSX) Vivienne Hsu, who also chips in on several other “active equity” funds No one yet named, presumably her co-managers will become lead managers 08/11
Sentinel Mid Cap Value (SYVIX) Steinberg Asset Management Effective 08/11, Crow Point Partners – run by some former Evergreen managers – takes over 06/11
Sentinel Mid Cap Value (SYVIX) Steinberg Asset Management Peter DeCaprio and Timothy O’Brien of Crow Point Partners 08/11
SSgA Emerging Markets (SEMSX) Brad Aham, but just until Christmas Co-manager Chris Laine will manage the fund during Brad’s leave of absence. 09/11
T. Rowe Price Africa & Middle East (TRAMX) Joseph Rohm, who left suddenly for South Africa Chris Alderson. 07/11
T. Rowe Price Retirement funds Ned Notzon, long-time lead of Price’s allocation funds, steps down as “co-chairman” of these funds ahead of his year-end retirement. Jerome Clark became the “sole chairman” of the fund on 8/1/11 07/11
TIAA-CREF Bond (TIBDX). Elizabeth Black and Steven Sterman John Cerra remains and is joined by Steven Raab and Joseph Higgins 08/11
TIAA-CREF Enhanced International Equity Index (TFIIX). Ping Wang goes Current co-managers Steve Rossiello and Pablo Mitchell will soldier on without him. 06/11
TIAA-CREF Enhanced Large-Cap Growth Index (TLIIX) Ruxiang Qian Comanager Kevin Zhang goes solo. 06/11
Vice Fund (VICEX) Jeffrey Middleswart Gerry Sullivan, who also manages the quant Industry Leaders fund (ILFIX). GS becomes the fund’s 7th manager in nine years. 07/11
Virtus Multi-Sector Fixed Income (NAMFX) Goodwin Capital Advisers The other subadvisor, Newfleet Asset Management, will take sole control. 06/11
Wasatch Global Opportunities (WAGOX) Robert Gardiner and Blake Walker. Gardiner also runs three small cap funds for Wasatch but his official bio lists this as “his true passion.” Oops. JB Taylor, who manages Wasatch Core Growth, joins Roger Edgely 05/11
Wasatch International Opportunities (WAIOX) Blake Walker Laura Geritz, who runs Wasatch Emerging Markets Small Cap, joins Roger Edgeley 05/11
Wells Fargo Advantage C&B Mid Cap Value (CBMAX) Kermit Eck will leave on Dec. 31, 2011 The rest of the management team remains in place 09/11
Wells Fargo Advantage Intrinsic Small Cap Value (WFSMX) Jeffrey Peck is gone… And apparently didn’t need to be replaced. Given the fund’s long-term weakness, the absence of a new manager suggests either that Wells Fargo is resigned or that they think Mr. Peck was the problem. Owie. 06/11
Wells Fargo Advantage Small Cap Growth (MNSCX) Jerome Philpott and Stuart Roberts Joseph Eberhardy, Thomas Ognar, and Bruce Olson 04/11
Wells Fargo Advantage Small Cap Value (SSMVX) No one, but . . . Erik Astheimer and Michael Schneider were added as co-managers. 09/11
Wells Fargo Advantage Strategic Large Cap Growth (ESGAX) Shannon Reid, David Chow, and Jay Zelko Tom Ognar. I’ve always been fascinated with Ognar’s name. Sounds like a Norse hero. Managed Strong Growth for years, but should have managed one of the old PrinCor funds. You can see him stalking into the feasting hall now and announcing, “I am Ognar of Princor.” 08/11
Winslow Green Growth (WGGFX) Jack Robinson Karina Funk, Elizabeth Levy, and David Powell 09/11

Manager changes, October 2011

By Editor

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.

Fund Out with the old In with the new Dt
BlackRock Total Return (MAHQX) No one, but . . . Bob Miller joins the fund’s three existing managers. 10/11
Davis Opportunity(RPEAX) No one, but . . . F. Jack Liebau is now listed as manager. 10/11
DWS Latin America Equity (SLANX) Florian Tanzer leaves as co-manager. Robert Kalin joins existing manager, Rainer Vermehren. 10/11
Fairholme (FAIRX) Charlie Fernandez, Bruce’s cousin-in-law Bruce Berkowitz. 10/11
Fairholme Allocation (FAAFX) Charlie Fernandez, Bruce’s neighbor Bruce Berkowitz. 10/11
Fairholme Focused Income (FOCIX) Charlie Fernandez, Bruce’s president Bruce Berkowitz. 10/11
Fidelity Equity-Income (FEQIX) Stephen Petersen: 18 years, $8 billion and it was still a closeted index A three-manager team of James Morrow, Adam Kramer, and Ramona Persaud, with Morrow as lead 10/11
Fidelity Equity-Income II (FEQTX) Stephen Petersen: $4 billion and 2.5 years, same outcome Scott Offen 10/11
Fidelity International Small Cap (FISMX) Noriko Takahashi Nicholas Price, manager of Fido Japan Smaller Companies, will handle the fund’s investments in Japan. 10/11
Goldman Sachs Capital Growth (GSCGX), Concentrated Growth, Flexible Cap Growth and Strategic Growth Fund David Shell is retiring at the end of the year, after managing $21 billion poorly Current portfolio managers from the GSAM growth team. 10/11
Goldman Sachs Capital Growth (GSCGX) Kumar Venkateswaran Current portfolio managers from the GSAM growth team. 10/11
Invesco Global Equity (GTNDX) Ralph Coutant Michael Abata joins the existing management team. 10/11
Invesco Structured Core(SCAUX) Ralph Coutant Michael Abata joins the existing management team. 10/11
Mainstay Global High Income (MGHAX) Howard Booth leaves as co-manager. New co-manager Jakob Bak joins the fund’s three remaining managers. 10/11
MassMutual Premiere Diversified Bond (MDVAX) Jill Fields left as co-manager. Sean Feeley, a member of subadvisor Babson Capital’s high-yield team, was named as a new co-manager. 10/11
Old Mutual Barrow Hanley Value(OAFOX) No one, but . . . Current manager, James Barrow, is joined by co-managers Robert Chambers, Timothy Culler, Mark Giambrone, and J. Ray Nixon Jr. 10/11
Old Mutual Large Cap Growth (OLGBX) Bradley Fretz leaves as co-manager. The rest of the management team remains in place 10/11
Steward Select Bond (SEAKX) Howard Potter leaves as co-manager. Edward Jaroski will join as co-manager with Claude Cody 10/11
T. Rowe Price Africa & Middle East (TRAMX) Chris Alderson, who was temporarily managing after the abrupt departure of Joseph Rohm, mid-2011. Oliver Bell, formerly of Pictet Asset Management 10/11