BIRTHS
Houston-based
Salient Partners debuted its
Salient Global Equity Fund, PMed by equities chief
Ajay Mehra and chief investment officer
Lee Partridge.
Guggenheim [
profile] announced today the launch of the
CurrencyShares Singapore Dollar Trust ETF. The fund will be available to institutional and retail investors. More information is available in the
company news release.
Pimco [
profile] is launching an actively-managed foreign exchange ETF, the
Pimco Foreign Currency Strategy ETF.
Van Eck's Market Vectors has launched the
BDC Income ETF.
Yorkville ETF Advisors has launched the
Yorkville High Income Infrastructure MLP ETF.
Persimmon Capital has
launched the
Persimmon Long/Short Fund.
First Trust Advisors has
launched the
First Trust Preferred Securities and Income ETF.
Invesco PowerShares Capital Management [
profile]
has launched two strategies: the
PowerShares S&P MidCap Low Volatility Portfolio and the
PowerShares S&P SmallCap Low Volatility Portfolio.
THE PARTY'S AT CAPACITY
On February,
Morningstar reports,
Aberdeen [
profile] plans to soft-close the
five-star, silver-rated, $10.5-billion Aberdeen Emerging Markets Fund. The mutual fund ratings shop notes that Aberdeen manages more than $30 billion worldwide in the strategy. The version for Europeans soft-closed a year ago, thought the version for Australians is still open.
---
DEATHS
Northern Lights is
liquidating the
Currency Strategies Fund.
Schooner is killing the
Schooner Global Absolute Return Fund, according to an
SEC filing. The fund's assets will be liquidated at the close of business on March 13.
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MARRIAGES
Morningstar reports that
Legg Mason [
profile] will merge the
one-star, $457.4-million Legg Mason Capital Management All Cap Fund into the
three star, $803.0-million ClearBridge Large Cap Value Fund on or around July 19, pending shareholder approval. News
broke last month that Legg was folding Legg Mason Capital Management into ClearBridge.
Highland Funds [
profile] plans to
collapse the
two-star, $12.7-million Highland International Equity Fund and the
two-star, $24.6-million Highland Global Select Equity Fund into the
three-star, $188.6-million Highland Core America Equity Fund on or around April 12, then rebrand the combined fund as the
Highland Global Allocation Fund.
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MONIKER CHANGE
Pyxis [
profile]
rebranded itself as
Highland Capital Management Fund Advisors, and rebranded its mutual funds accordingly.
Forward Funds [
profile] is
changing the name of the
Forward Extended MarketPlus Fund to the
Forward Total MarketPlus Fund.
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BRAIN SURGERY
Putnam [
profile]
removed Jeff Knight from the PM teams for nine asset allocation mutual funds: the
Putnam Absolute Return 500 Fund, the
Putnam Absolute Return 700 Fund, the
Putnam Dynamic Asset Allocation Balanced Fund, the
Putnam Dynamic Asset Allocation Conservative Fund, the
Putnam Dynamic Asset Allocation Growth Fund, the
Putnam Dynamic Risk Allocation Fund, the
Putnam Retirement Income Fund Lifestyle 1, the
Putnam Retirement Income Fund Lifestyle 2 and the
Putnam Retirement Income Fund Lifestyle 3. News broke at the beginning of the month that Knight was
stepping down as head of the Boston-based mutual fund shop's global asset allocation division, and he went to
Columbia. Putnam GAA veterans
James Fetch,
Robert Kea,
Robert Schoen and
Jason Vaillancourt now lead the GAA division. Those four, along with
Joshua Kutin, continue to co-PM the nine funds listed above.
At
Columbia [
profile],
Morningstar reports, Knight takes over as PM of the
Columbia Global Opportunities Fund, the
Columbia Capital Allocation target-risk funds, the
Columbia Absolute Return Multi-Strategy Fund, the
Columbia Absolute Return Multi-Strategy Enhanced Fund and the
Columbia Risk Allocation Fund. He joined Columbia as head of global asset allocation.
Baltimore-based
T. Rowe Price [
profile]
said goodbye to
T. Rowe Price Health Sciences Fund PM
Kris Jenner and analysts
Mark Bussard and
Graham McPhail. Analyst
Taymour Tamaddon took over the fund.
Battenkill Capital Management no longer serves as sub-advisor to the
Alternative Avenue Fund.
---
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