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Rating:The New Fund Fuss - March 30, 2017 Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 30, 2017

The New Fund Fuss - March 30, 2017

Reported by Marisa Santella

Company: AdvisorShares

Fund Close: Athena High Dividend ETF (DIVI)

AdvisorShares announced on March 13 that the DIVI ETF will close. On March 31, the fund will sell its equity positions, and April 3 will be the final day for creations or redemptions by authorized participants, and the last day of trading. Finally, on April 7 the fund will "cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders."


Company: American Beacon Advisors

New Funds: Alpha Quant Core Fund, Alpha Quant Dividend Fund, Alpha Quant Quality Fund, Alpha Quant Value Fund

American Beacon Advisors launched four American Beacon Alpha Quant Equity Mutual Funds that "implement the quantitative approach of Alpha Quant Advisors, LLC." Each fund offers unique investment objectives, but all seek long-term capital appreciation.


Company: Active Alts

New Fund: Active Alts Contrarian ETF (SQZZ)

Brad Lamensdorf
Active Alts, Inc.
Founder, President
This ETF launched by Active Alts "seeks capital appreciation by investing in companies with solid fundamentals that have very large short positions and are subject to a short squeeze." Active Alts subadvises the new ETF, while Rational Advisors is the new ETF's investment advisor.


Company: Selective Wealth Management

New Fund: Selective Opportunity Fund

Selective Wealth Management has launched this fund, and chose Ultimus Fund Solutions to provide fund administration services. Selective "intends to use the concentrated all cap mutual fund as the main investment offering for their clients." The fund will be part of one of Ultimus' four series trusts.


Company: OppenheimerFunds

Fund Rename: Oppenheimer Total Return Bond Fund

Oppenheimer Funds will rename its top decile fixed income fund from Oppenheimer Core Bond Fund, to Oppenheimer Total Return Bond Fund, effective June 1. In addition, OpFunds will reduce the Core Bond Fund's net expense ratios of A, Y and I-shares by 10, 15 and 11 basis points each, respectively, effective April 3. Similarly, the net expense ratios of A, Y, and I-shares of the Oppenheimer Limited-Term Bond Fund will be reduced by 7, 18 and 6 bps basis points. These fee reductions "will position both funds competitively within the top quartile of their respective peer groups."


Company: BlackRock Funds

Fund Rename: BlackRock International Growth & Income Trust (BGY), BlackRock Global Opportunities Equity Trust (BOE)

BlackRock will rename its BGY fund to BlackRock Enhanced International Dividend Trust, and its BOE fund to BlackRock Enhanced Global Dividend Trust, both effective June 12. Also on June 12, BlackRock will change its non-fundamental investment policies for the above funds, encompassed with a new PM team. In addition, BlackRock International Limited was added as a sub-adviser to each fund, effective March 29.


Company: Altegris Mutual Funds

New fund: Altegris GSA Trend Strategy Fund, (TRNAX, TRNIX, TRNNX)

Altegris has launched this fund, which will be sub-advised by GSA Capital Partners. The fund's investment objective is "to seek long-term capital appreciation through utilization of an absolute return strategy."


Company: Royce International Funds

Fund Close: Royce International Small-Cap Fund

The Royce Fund's Board of Trustees has approved a liquidation of this fund, scheduled for May 1. The fund is being liquidated "because it has not attracted and maintained assets at a sufficient level for it to be viable."


Company: FTJ Fund Choice

New Program: Separately Managed Accounts Program (SMA)

FTJ has launched this SMA program on March 28. The program will "connect financial advisors that serve ultra-high and high-net-worth families and individuals directly to top-tier strategists," and require a minimum investment of $1,000,000.00. Meeder Investment Management has signed on as the first SMA strategist in the program.


To learn more about recent fund launches, check our most recent New Fund Fuss here. For information about SEC filings or new hires, check out our latest Filings For Fundsters and Follow the Fundsters columns, respectively. For job opportunities in the industry, explore our The Next Gig column. If you have a fund filing that you would like to point out, a mutual fund launch, product change or new hire that you would like to announce, please contact the MFWire team at editors@investmentwires.com. 

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