Jeff Gundlach is again catering to his European fans. Next week Alma Capital will launch the Alma DoubleLine Core Plus Bond Fund, a Luxembourg-based UCITs fund powered by Gundlach's core plus fixed income strategy. This Los Angeles-based DoubleLine's [profile] second foray into Europe, following the launch of a total return UCITS fund from Nordea. Alma has offices in Casablanca, London, Luxembourg and Paris.
On Tuesday Kansas City, Missouri-based Scout Investments [profile] unveiled the Scout Emerging Markets Fund. It's PMed by Mark Weber and co-PMed by Eric Chenoweth.
As MFWire previously reported, on Tuesday Vanguard [profile] launched a short-term TIPS fund, the Vanguard Short-Term Inflation-Protected Securities Index, available in both traditional mutual fund and ETF shares.
The first, BlackRock Market Advantage, will be a multiasset fund PMed by Philip Green, Philip Hodges, Ked Hogan, Vincent de Martel and Ugo Montrucchio [filing].
Principal Funds [profile] hired Waltham, Massachusetts-based DDJ Capital, a $4-billion-AUM high yield asset manager, as a subadvisor for the five-star, neutral-rated, $5.4-billion Principal Global Diversified Income Fund. The fund's other subadvisors include: Guggenheim Partners Investment Management, Principal Real Estate Investors, Reaves W H & Co, Spectrum Asset Management, Stone Harbor Investment Partners and Tortoise Capital Advisors. DDJ is slated to start its work for the fund in January [filing].
Morningstar's "Fund Times" column reports that Delaware readdedMacquarie's Graham McDevitt as a PM for the four-star, $14.4-million Delaware International Bond Fund. Macquarie both owns Delaware and subadvises the fund. McDevitt previously PMed the fund from July 2011 through July 2012. Paul Grillo and Paul Matlack continue to PM the fund [filing].
Morningstar's "Fund Times" column reports that Edward Yoonjoined Fidelity's one-star, $238.9-million Fidelity Advisor Mid Cap Growth Fund as a co-PM. The Boston Behemoth plans to merge Fidelity Advisor Mid Cap Growth and one-star, $32.3-million Fidelity Advisor Growth Strategies into the two-star, neutral-rated, $1.7-billion Fidelity Advisor Stock Selector Mid Cap Fund [filing].
Adoptions
Last week New York City-based MainStay Investments, New York Life's mutual fund arm, finalized the adoption of the Marketfield Fund. Rebrand as the MainStay Marketfield Fund, the five-star, bronze-rated long-short equity fund boasts $3.2 billion in assets. That's up from $1.7 billion in June when MainStay revealed its adoption plans. Marketfield Asset Management remains as subadvisor to the fund, and Marketfield president is still the PM.
Suspended Animation
Brown Brothers Harriman & Co [profile] is preparing to close its BBH Core Select Fund to new investors. According to the New York City-based mutual fund shop, the five-star, silver-rated fund has attracted more than $1.5 billion in new assets since August. BBH plans to close the gate when the fund hits $3.5 billion — it currently has $3.3 billion, almost half of BBH's mutual fund assets.
Forwards Funds [profile] filed yesterday to shut down the Forward CorePlus Fund. The San Francisco-based mutual fund shop plans to liquidate the three-star, $36.9-million fund on December 17 [filing].
Today New York City-based WisdomTree [profile] revealed plans to shut down three ETFs: the $14.3-million WisdomTree LargeCap Growth Fund; the $6.6-million WisdomTree Dreyfus Japanese Yen Fund; and the $4.5-million WisdomTree Dreyfus South African Rand Fund.
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