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Friday, September 06, 2013|
PM Changes at AB, ING and Leuthold Catch M*'s Eye
According to Morningstar, AllianceBernstein [profile] is playing musical chairs with its Target-Date Series and Target-Risk Suite. Seth Masters, who has been a manager of the series since 2005, is leaving the series and will work on the firm's private client business, Morningstar reports. Dokyoung Lee is leaving the firm. He has served as a PM since 2008. Christopher Nikolich and Patrick Rudden, who came to the series in 2005 and 2009 respectively, will stay on the series, Morningstar writes.
Heather Hackett has been taken off the PM team for ING's [profile] ING Solution target-date funds. She will continue working at ING as part of a multiasset group, mostly doing asset-allocation research on the fixed-income side, Morningstar writes.
Leuthold [profile] Asset Allocation Fund will merge into Core Fund by the end of October, as both funds have shrunk, Morningstar writes. The funds have had weak performance and sizable outflows. The lead manager of Leuthold Asset Allocation, Eric Wiegel, left the firm. He became lead manager only a few months ago, in December of last year, Morningstar reports.
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