Births
On January 17 Chicago-based
RiverNorth Capital Management [
profile]
launched the
RiverNorth/Oaktree High Income Fund,
with private equity giant
Oaktree sub-advising the mutual fund. DoubleLine, a
mutual fund shop that Oaktree holds a minority stake in,
sub-advises an existing
RiverNorth mutual fund.
On January
Neuberger
Berman [
profile]
launched the
Neuberger Berman Dynamic Real Return Fund. Investment
grade fixed income chief investment officer
Andy Johnson and global sovereigns and
interest rates chief
Thanos Bardas are the new fund's lead PMs.
In December
OppenheimerFunds launched the
Oppenheimer Diversified Alternatives Fund.
Alan Gilston
PMs the new fund.
On January 14 Northill Capital's
Riverbridge Partners debuted its first mutual fund,
an all-cap U.S. equities product called the
Riverbridge Growth Fund.
On January 15,
Global
X [
profile]
launched its second MLP ETF,
the
Global X Junior MLP ETF.
Southeastern Asset
Management [
profile] reportedly
launched its first new U.S. open-end mutual fund in 15 years, the
Longleaf Global Fund.
Piper Jaffray's
Advisory
Research recently
launched the
Advisory Research Strategic Income Fund.
On January 2
Natixis [
profile]
launched the
McDonnell Intermediate Municipal Bond Fund.
At the beginning of the month Leawood, Kansas-based
Cognios Capital debuted its first mutual fund,
the
Cognios Market Neutral Large Cap Fund.
---
Pregnancies
On January 15,
Jeff Gundlach's
DoubleLine Capital [
profile]
filed to launch its first
three stock mutual funds: the
DoubleLine Equities Small Cap Growth Fund, the
DoubleLine Equities Growth Fund and the
DoubleLine Equities Global Technology
Fund.
ProShares [
profile] is reportedly
prepping the
ProShares
Global Direct Infrastructure ETF for launch.
On January 2, the SEC
approved T. Rowe Price's [
profile] request to launch active ETFs.
On January 4
Advisors
Preferred [
profile]
filed to launch the
OnTrack Core Fund.
State Street Global
Advisors [
profile]
reportedly
filed to launch
three more equity ETFs: the
SPDR MFS Systematic Core Equity ETF, the
SPDR MFS
Systematic Growth Equity ETF and the
SPDR MFS Systematic Value Equity ETF.
DST's
ALPS [
profile] is reportedly
prepping four ETFs to track
proprietary
Goldman Sachs strategy indices. The
proposed funds are the
ALPS/GS Momentum Builder Growth Markets Equities and US Treasuries Index ETF, the
ALPS/GS Momentum Builder Multi-Asset Index ETF, the
ALPS/GS Momentum Builder
Asia ex-Japan Equities and US Treasuries Index ETF and the
ALPS/GS Risk-Adjusted
Return US Large Cap Index ETF.
Northern Trust [
profile] recently
filed to launch four variable
NAV money market mutual funds.
---
Gene Therapy
On January
Litman/Gregory [
profile]
added Lazard Asset Management [
profile] and
Wellington Management
Company [
profile]
as sub-advisors for the
Litman Gregory Masters International Fund.
On January 15,
Vanguard [
profile]
made its indexing switch to
CRSP from
MSCI, three months
after the move was first announced.
In March
Van Eck
[
profile] will reportedly
switch its
Market
Vectors Solar Energy ETF to tracking an in-house index, the
Market Vectors
Global Solar Energy Index. The ETF currently tracks
Ardour Capital
Investments'
Ardour Solar Energy Index.
On January 14
Vanguard [
profile]
dropped Hansberger Global Investors from the sub-advisor lineup
for the $6.8-billion
Vanguard International Value Fund. Fellow sub-advisors
Edinburgh Partners Limited and
Lazard Asset Management will take over the
17 percent of the fund previously handled by Hansberger.
Star
Fidelity [
profile] PMs
Will
Danoff and
Joel Tillinghast joined the PM lineup for the Boston Behemoth's $157.1 billion
Freedom Funds, the biggest target date mutual fund family in the business.
On January 28,
Win Murray and
Tony Coniaris will
join Harris Associates [
profile] star
Bill
Nygren as co-PMs of the
Oakmark Select Fund.
---
Plastic Surgery
On January 31,
DWS
[
profile] will
drop Global Thematic
Partners as sub-advisor for the
DWS Global Thematic Fund and rebrand the fund
as the
DWS Global Growth Fund.
---
Marriages
Guardian's
RS
Investments [
profile] reportedly
removed the
RS Capital Appreciation Fund's PM team and will
merge the fund with the
RS Growth Fund in March.
---
Adoptions
On January 11
John
Hancock [
profile]
completed its adoption of the
Turner International Growth Fund,
re-launching it as the
John Hancock International Growth Equity Fund.
Turner Investments [
profile] president and co-
founder
Mark Turner continues to PM the fund.
---
Suspended Animation
On January 31,
Fidelity [
profile] will
close the $3.9-billion
Fidelity Small Cap Discovery Fund to new
investors.
---
Deaths
Aston [
profile] will reportedly
shut down the $22-million,
one-star
ASTON Dynamic Allocation Fund on January 30.
In December,
BlackRock [
profile]
liquidated three of its
BIF Multi-State Municipal Series money
market mutual funds. BlackRock still operates at least eight other funds within the
trust.
HSBC [
profile] is slated to
liquidate two money market
mutual funds, the
HSBC New York Tax-Free Money market Fund and the
HSBC Tax-
Free Money Market Fund, on January 31. The two money funds held a combined $423
million as of November 30, 2012.
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