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The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Thursday, July 28, 2016 Stork and Reaper -- July 28, 2016 Fund Updates Morgan Stanley Institutional Liquidity Funds has designated the Money Market Portfolio, the Prime Portfolio and the Tax-Exempt Portfolio as "institutional money market funds" starting on Oct. 7. The Vanguard Dividend Growth Fund is closed to new investors, with a few exceptions, and there is no time set for the fund to reopen. The BlackRock Liquidity funds (TempFund, TempCash and MuniCash) and three funds in BlackRock Funds III (BlackRock Cash Funds: Institutional and BlackRock Cash Funds: Prime) will be designated as the Institutional Money Market Funds on or around Oct. 11. The "Oppenheimer Cash Reserves," "Oppenheimer Institutional Money Market Fund" and "Oppenheimer Money Market Fund" will be changed to "Oppenheimer Government Cash Reserves," "Oppenheimer Institutional Government Money Market Fund" and "Oppenheimer Government Money Market Fund," respectively, on Sept. 28. Management, Subadvisor and PM updates John P. McCarthy is a senior PM for the Delaware VIP Diversified Income Series, the Delaware Limited-Term Diversified Income Fund and the Delaware Diversified Income Fund as of this July. Wayne A. Anglace is a vice president and senior PM of the Delaware Corporate Bond as of this July. The Delaware Emerging Markets Debt Fund gained three new PMs this July: Mansur Z. Rasul; Chungwei Hsia and Sean H. Simmons. Strategy Shifts The Federated Capital Income Fund will will change their investment strategy on Aug. 31. The fund's newly-updated Blender Index benchmark will be composed of 40 percent Rusell 1000® Value Index instead of 40 percent Dow Jones U.S. Select Dividend Index. The Global Unconstrained Bond Portfolio will alter its investment strategies to "expand the Portfolio's ability to invest in commodity-linked investments." The portfolio will invest in Janus Aspen Global Unconstrained Bond Subsidiary, Ltd starting Oct. 5. The Janus Global Unconstrained Bond Fund's investment strategies will expand. On Oct. 5, the fund will be able to invest in Janus Global Unconstrained Bond Subsidiary, Ltd for more exposure to commodity-linked investments. Reorganizations The High Yield Portfolio, a series of AB Pooling Portfolios ("the accounting survivor"), was acquired by the AB High Yield Portfolio in a reorganization. Terminated Funds The Lazard Funds, Inc's board of directors approved the liquidation of the Lazard US Mid Cap Equity Portfolio. The liquidation process will begin immediately and the assets will be distributed to shareholders around Aug. 31. ***
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