Launching: the VanEck Vectors NDR CMG Long/Flat Allocation ETF
Today New York City-based VanEck unveiled
LFEQ, which tracks the Ned Davis Research CMG US Large Cap Long/Flat Index
. Ned Davis also powers a year-old VanEck mutual fund, the VanEck NDR Managed Allocation Fund.
Launching: the Eventide Global Dividend Opportunities Fund
(ETADX, ETCDX, ETNDX, ETIDX)
Yesterday Boston-based Eventide unveiled
its fourth mutual fund, PMed by Eventide's own Martin Wildy
. The fund comes in A, C, I, and N shares.
Company: RBC Global Asset Management (U.S.)
Launching: the RBC Emerging Markets Value Equity Fund
and the RBC Impact Bond Fund
On Tuesday the Canadian multinational's asset management arm revealed
plans to launch a pair of mutual funds in the U.S. RBC GAM-US also unveiled expense ratio cuts to eight of its existing mutual funds. And on November 1, RBC GAM-US will rebrand two existing mutual funds, transforming the RBC BlueBay Emerging Market Select Bond Fund
into the RBC BlueBay Emerging Market Debt Fund
and the RBC BlueBay Global High Yield Bond Fund
into the RBC BlueBay High Yield Bond Fund
Company: American Century
Reorganizing: the Nomura High Yield Fund
On Monday Kansas City, Missouri-based American Century reorganized
the Nomura High Yield Fund into the American Century High Income Fund
while keeping Nomura Corporate Research and Asset Management
(NCRAM) on as subadvisor to the five-year-old fund. NCRAM already subadvises another American Century fund, American Century NT High Income, and last year NCRAM's parent bought
a 41-percent stake in American Century.
Tweaking: Direxion Daily Small Cap Bull 1.25x Shares
On Monday New York City-based Direxion revealed
plans to switch LLSC from tracking the Russell 2000 Index
to tracking the S&P Small Cap 600 Index
. The change is scheduled for December 1.
Company: Reinhart Partners
Launching: its own family of NextShares funds
On Monday Mequon, Wisconsin-based Reinhart Partners
confirmed a preliminary agreement with Eaton Vance's NextShares
for the creation of a Reinhart family of funds using the NextShares structure.
Launching: the NuShares ESG U.S. Aggregate Bond ETF
On Monday Chicago-based Nuveen, TIAA's asset management arm, confirmed
the launch of NUBD.
Company: Deutsche Asset Management
Rebranding: the X-trackers
family of ETFs
On Friday Deutsche AM revealed
a branding tweak for its $12.5-billion family of ETFs in the U.S. They will switch from being X-trackers to being Xtrackers
, following similar branding changes in Deutsche AM's ETFs in Asia and Europe.
Company: Congress Asset Management
Acquired: Century Capital Management's
investment management business
Last month Boston-based Congress completed
purchase of Century's investment management business. Century managing partner Lanny Thorndike
and partners Jeffrey Kerrigan
and Eric Meyers
joined Congress as part of the deal.
To learn more about recent fund launches, check our most recent New Fund Fuss here. For information about SEC filings, new hires or AUM figures, check out our latest Filings For Fundsters, Follow the Fundsters, and AUM Update columns, respectively. 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 email@example.com.
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