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Friday, July 27, 2012|
Stork and Reaper for July 27, 2012
The Stork has closed out the week fairly strong, delivering three new funds.
Al Frank Asset Management's Innealta Capital Division is prepping the Innealta Capital Sector Rotation Portfolio. The fund will be managed by Gerald W. Buetow, Jr., with the objectives of capital appreciation and current income. [SEC Filing]
Invesco PowerShares has filed for the Fundamental Emerging Markets Local Debt Portfolio. The fund seeks results comparable to those of the Citi RAFI Sovereign Emerging Markets Bond Index. It will be managed by Peter Hubbard, Philip Fang and Jeffrey Kernagis. [SEC Filing]
Russell Funds plans to launch the Russell Strategic Call Overwriting Fund, which seeks to provide total return with lower volatility than U.S. equity markets. The fund will be managed by Richard Johnson, Jr., Scott Maidel, Karl Sahlin and Rafael Zayas. [SEC Filing]
Some of the Reaper's past work has manifested itself today, as one fund officially liquidated.
Today was the day that Hansberger Global Investors's Emerging Markets Fund officially ceased to exist after liquidating. [SEC Filing]
Meanwhile, a couple of mutual funds are being reorganized.
Dreyfus is reshuffling its funds a bit, provided shareholder approval. The Dreyfus/Standish Fixed Income Fund will be folded into the Dreyfus Intermediate Term Income Fund. The fund will be closed to new investments for new accounts effective on or about August 27, with shareholders being asked to approve the proposal at a special shareholders' meeting on or about November 15, 2012. If approved, this reorganization will become effective on or about January 18, 2013. [SEC Filing]
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