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Rating:Stork and Reaper -- July 11, 2016 Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 11, 2016

Stork and Reaper -- July 11, 2016

by: Jennifer Goetz

Fund Updates

Starting on July 1, Aspirant Risk-Managed Global Equity Fund’s "adviser is entitled to an advisory fee calculated at an annual rate of 0.40 [percent] of the fund's average daily net assets."

On July 15, the Tax-Free Money Market Fund, a portfolio of Money Market Obligations Trust, will no longer offer checkwriting and debit card services.

The SPDA MSCI USA Quality MIx ETF and it's benchmark index, MSCI USA Quality Mix A-Series Index names will change on July 15 to the SPDR MSCI USA StrategicFactors ETF and the MSCI USA Factor Mix A-Series Capped Index, respectively.

Van Hulzen Asset Management, LLC decided to not renew the fee waiver on the Iron Horse Fund after its termination on July 29.

Management, Subadvisor or PM updates

As of July 1, Shelton Capital Management took over for WHV Investments as the investment advisor to the WHV/Acuity Tactical Credit Long/Short Fund. Shelton will also take on WHV International Equity Fund from WHV on July 18.

Deborah D. Woods, a PM to the Prudential QMA Strategic Value Fund, Prudential QMA Small-Cap Value Fund and the Prudential QMA Mid-Cap Value Fund, announced that she plans to retire from Quantitative Management Associates LLC in early 2017.

Another member of Quantitative Capital Management Associates LLC plans to retire. Daniel Carlucci, CFA, is currently a PM for following funds: the Prudential QMA Large-Cap Core Equity Fund; Prudential QMA Stock Index Fund; Prudential Balanced Fund; and the Prudential QMA Defensive Equity Fund.

On June 30, Brian Kennedy was added as a PM to the Great-West Loomis Sayles Bond Fund.

The Delaware REIT Fund added Scott P. Hastings as a PM this month.

Foresters Investment Management Company, Inc has named Clark D. Wagner as the president and investment advisor to the First Investors Funds.

Scott Stutzman became the co-PM of the Small Cap Growth Portfolio of Ohio National Funds this July.

New Strategies

The Fidelity SAI Real Estate Index Fund's advisor reduced the management fee rate for the fund from 0.02 percent to 0.015 percent.

The Investment Policy for the Rydex ETF Trust's Guggenheim S&P 500 Equal Weight Financials ETF and Guggenheim S&P 500 equal Weight Real Restate ETF will change on Sept. 16.


The DS Large Cap Growth Fund plans to reorganize into the Touchstone Large Company Growth Fund, a brand-new series of Touchstone Strategic Trust around August 15.

Metropolitan West Capital Management, a subadvisor to PACE Small/Medium Co Value, merged with Wells Capital Management LLC on July 1 and "the sub-advisory agreement with MetWest Capital transferred to Wells Capital upon consumation of the merger."

Terminated Funds

Little Harbor MultiStrategy Composite Fund's initial liquidation distribution has been changed to around July 14, but the final liquidation date, August 31, remains the same.

The Oakhurst Defined Risk Fund will be closed to new purchases by new and existing shareholders today. The fund is scheduled to be liquidated on July 22.

To learn more about recent SEC filings, check the last Stork and Reaper column here. To see the latest fund launches, check out our New Fund Fuss column here. If you have a fund filing that you would like to point out, or a mutual fund launch or product change that you would like to announce, please contact the MFWire team at editors@investmentwires.com

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