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Rating:Stork and Reaper for August 22, 2012  Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 22, 2012

Stork and Reaper for August 22, 2012

Reported by JY

Before the Stork flew off today, it delivered a fund.

DMS Advisors filed for the DMS India Bank Index Fund which will invest using the CNX Bank Index. The index measures the return of stocks issues by banking companies located in India. The fund will be managed by Peter Kholi. [SEC Filing]

The Reaper not only closed a fund today, but also liquidated a few.

Sterling Capital Management [profile] has filed to liquidate the Sterling Capital National Tax-Free Money Market, Sterling Capital Prime Money Market Fund, and Sterling Capital U.S. Treasury Money Market Fund. The funds will be liquidated on December 14, 2012. [SEC Filing]

Touchstone Investments [profile] will be closing its Touchstone Small Cap Core Fund to new investments on September 21, 2012, with a few exceptions. As of August 21, 2012, the fund has $430 million in AUM, according to data from Morningstar. [SEC Filing]

Additionally, other funds are being, or will be, reorganized.

Maxim Funds [profile] will replace Bartlett Geer with Darren Jaroch as PM to the Maxim Putnam Equity Income Portfolio. [SEC Filing]

Charles Myers, from Fidelity Investments [profile], will no longer serve as co-PM to the Fidelity Advisor Stock Selector Small Cap Fund. Anmol Mehra and Eirene Kontopoulos will continue to manage the fund. [SEC Filing]

Tim Lindvall, from PineBridge Investments will no longer be managing the Valic Company's Core Bond Fund and Strategic Bond Fund. [SEC Filing]

Richard Holland has retired from Weitz Funds [profile]. [SEC Filing]

Goldman Sachs [profile] will be renaming the Goldman Sachs Balanced Fund to the Goldman Sachs Income Builder Fund.

"Goldman Sachs Income Builder Fund is designed to access income opportunities across a broad set of asset classes." said Glen Casey, global head of global strategy and development for Goldman Sachs Asset Management.

ING Investments [profile] replaced David Iben with Emily Alejos and Andrew Thelen as PMs to the ING Global Value Choice Fund. As of August 21, the fund has $206 million in AUM and a three-star Morningstar rating.[SEC Filing

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