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Thursday, September 07, 2017

Filings For Fundsters - September 7, 2017

by: Neil Anderson, Managing Editor

Rebranding


On October 16, Waddell & Reed will transform nine funds — the Waddell & Reed Advisors Core Investment Fund, the Waddell & Reed Advisors Dividend Opportunities Fund, the Waddell & Reed Advisors Energy Fund, the Waddell & Reed Advisors Tax-Managed Equity Fund, the Waddell & Reed Advisors Value Fund, the Waddell & Reed Advisors Bond Fund, the Waddell & Reed Advisors Global Bond Fund, the Waddell & Reed Advisors Government Securities Fund, and the Waddell & Reed Advisors Municipal Bond Fund — will all be transformed into Ivy Funds.

On September 13 ARS Investment Management will rebrand the Alpha Risk Hedged Dividend Equity Fund as the Alpha Risk Tactical Rotation Fund. The fund's investment strategy will also change.

On September 1, Palmer Square Capital Management rebranded the Palmer Square Absolute Return Fund as the Palmer Square Strategic Credit Fund.

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Fees


Starting on Tuesday Gabelli Funds limited the expense ratio for class AAA shares of the Gabelli International Small Cap Fund to 100 bps.

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PMs


Effective December 31, Jeff Cardon will no longer be a PM for the Wasatch Small Cap Growth Fund.

This month Gene Frerichs, senior investment performance analyst at CLS Investments, became a co-PM on the CLS Shelter Fund.

Effective Tuesday, director Dirk Aufderheide is no longer a PM to the Deutsche European Equity Fund.

On September 29, David Germany will retire from Wells Capital Management. He will no longer be a PM on the Wells Fargo Strategic Income Fund.

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New Funds


On Tuesday Thrivent launched the Thrivent Core Emerging Markets Debt Fund, PMed by Cortney Swensen and Kent White. Vendors to the fund will include: State Street, custodian; Thrivent Financial Investor Services, transfer agent; PricewaterhouseCoopers, independent accounting firm; and Thrivent Distributors, distributor.

On Tuesday Goldman Sachs launched the Goldman Sachs Access High Yield Corporate Bond ETF, PMed by managing directors Joshua Krik and Jason Singer. Vendors to the fund include: ALPS Distributors, distributor; BNY Mellon, custodian and transfer agent; and PricewaterhouseCoopers, independent accounting firm.

Highland Capital Management recently launched the Highland Floating Rate Opportunities Fund II, PMed by co-founder Mark Okada and managing director Jon Poglitsch. Vendors to the fund include: BFDS, transfer agent; State Street, custodian; Highland Capital Funds Distributor, distributor; and KPMG, independent accounting firm.

Allianz Global Investors is developing the AllianzGI PerformanceFee Managed Futures Strategy Fund, the AllianzGI PerformanceFee Structured US Fixed Income Fund, and the AllianzGI PerformanceFee Structured US Equity Fund. The first fund will be PMed by Rahul Malhotra, Giorgio Carlino, Claudio Marsala, and Huy Thanh Vo. The second and third funds will both be PMed by Greg Tournant, Trevor Taylor, and Stephen Bond-Nelson. Vendors to the funds will include: Allianz Global Investors Distributors, distributor; State Street, custodian; BFDS, transfer agent; and Ropes & Gray, legal counsel. No independent accounting firm has yet been named.

USCF is developing the USCF Contango-Killer Oil Fund and the USCF Contango-Killer Natural Gas Fund, both PMed by Ray Allen and Andrew Ngim. Vendors to the ETFs will include: BBH, administrator, custodian, and transfer agent; ALPS Distributors, distributor; and Eversheds Sutherland, legal counsel. No independent accounting firm has yet been named.

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Subadvisors


Caerus Investors is no longer a subadvisor to the Sterling Capital Long/Short Equity Fund.

Yesterday UBS Asset Management (Americas) added Kettle Hill Capital Management as a subadvisor to the PACE Alternative Strategies Investments fund.

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Liquidating


Today ProShares Short S&P Regional Banking, ProShares Ultra S&P Regional Banking, ProShares Ultra Oil & Gas Exploration & Production, ProShares UltraShort Oil & Gas Exploration & Production, ProShares Ultra MSCI Mexico Capped IMI, ProShares UltraShort MSCI Mexico Capped IMI, ProShares Ultra Junior Miners, ProShares UltraShort TIPS, ProShares UltraShort 3-7 Year Treasury, ProShares German Sovereign/Sub-Sovereign ETF, ProShares USD Covered Bond, ProShares Hedged FTSE Europe ETF, and ProShares Hedged FTSE Japan ETF all liquidated.

On October 2, J.P. Morgan will liquidate the JPMorgan International Opportunities Fund.

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Closing


On September 29, Driehaus will close the Driehaus Micro Cap Growth Fund to most new investors.

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Check our last Filings For Fundsters column (previously called Stork and Reaper) for more SEC filing updates. For the latest new hires and fund launches, explore our Follow The Fundsters and New Fund Fuss columns. If you have a fund filing, a mutual fund launch, a product change or a new hire that you would like to announce, please contact the MFWire team at editors@investmentwires.com. 

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