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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, September 29, 2016 Filings for Fundsters - September 29, 2016 RebrandingAs of September 23, the Virtus Emerging Markets Opportunities Fund, the Virtus Low Duration Income Fund and the Virtus Tax-Exempt Bond Fund will reorganize into the Virtus Emerging Markets Opportunities Fund, the Virtus Low Duration Income Fund and the Virtus Tax-Exempt Bond Fund, respectively. On October 3, the Giralda Fund will be taken over by AlphaCore. It will be renamed to the AlphaCore Absolute Fund. Also, all manager class shares will be changed to institutional class shares. ***
Investment StrategyThe Vanguard Market Neutral Fund's current benchmark, the Citigroup 3-Month U.S. Treasury Bill Index, is being replaced by the Citigroup 3-Month U.S. Treasury Bill Index (Daily). ***
Exemptive ReliefAspiriant is requesting exemptive relief to create mutual funds that invest in other funds. Blue Tractor Group, LLC is requesting exemptive relief to launch active ETFs. The Dreyfus Corporation, Mellon Capital Management Corporation and Dreyfus ETF Trust are requesting exemptive relief to adopt a master-feeder structure and to launch ETFs. ***
FeesOn September 30, the Direxion Daily 7-10 Year Treasury Bear 1X Shares, the Direxion Daily 20+ Year Treasury Bear 1X Shares, the Direxion Daily Corporate Bond Bear 1X Shares, the Direxion Daily Municipal Bond Taxable Bear 1X Shares, the Direxion Daily Small Cap Bear 1X Shares and the Direxion Daily Total Bond Market Bear 1X Shares will reduce their management fee by 10 bps. As of September 19, both the annual base subadvisory fee and the performance fee for the Dunham Appreciation & Income Fund will be lowered by 5 bps. On October 1, the Conductor Global Equity Value Fund will reduce their contractual management fee by 25 bps. ***
New and Upcoming FundsOn October 4, the Lattice Real Estate Strategy ETF will commence operations. ***
Fund Closings and ReopeningsOn March 31, 2017, the Loomis Sayles Growth Fund will close to new investors. ***
Fund Mergers & LiquidationsOn October 28, the Rx MAR Tactical Moderate Growth Fund and the Rx MAR Tactical Growth Fund will be terminated and liquidated. RiskX, the new brand for FolioMetrix and American Independence, is the investment advisor to these funds. On December 12, the Deutsche Large Cap Value Fund will merge into the Deutsche CROCI U.S. Fund. On October 3, the Deutsche Large Cap Value Fund will change its strategy in order to implement a cash return on capital invested strategy. On December 2, the Brown Advisory Value Equity Fund will reorganize into the Brown Advisory Flexible Equity Fund. On November 29, the Epiphany FFV Latin America Fund will be closed and liquidated. On January 27, 2017, the Fidelity Income Replacement 2016 Fund and the Fidelity Advisor Income Replacement 2016 Fund will close and liquidate. On November 30, the Deutsche Diversified Market Neutral Fund will be terminated and liquidated. ***
SubadvisorsAs of July 27, the subadvisor to the PMC Diversified Equity Fund, Robeco Investment Management, Inc, changed its name to Boston Partners Global Investors, Inc. Also, as of September 30, William Blair Investment Management will no longer serve as subadvisor to the PMC Core Fixed Income Fund and PMC Diversified Equity Fund. On October 3, Deutsche Asset Management International GmbH will become the subadvisor of the Deutsche Science and Technology Fund, as well as the Deutsche Communications Fund. On October 1, Amplify Investments LLC will become a subadvisor to the YieldShares High Income ETF. In early October, Rothschild Asset Management Inc. will become a subadvisor of the Optimum Large Cap Value Fund. Rothschild will replace Herndon Capital Management, LLC. ***
Portfolio ManagerOnSeptember 30, Brian Singer and Thomas Clarke will no longer serve as co-PMs of the PMC Core Fixed Income Fund and PMC Diversified Equity Fund. On January 1, 2017, Edward Wiese will no longer serve as co-PM of the T. Rowe Price Limited-Term Bond Portfolio. Michael Reinartz will be the fund's sole PM. ***
Check our last Filings For Fundsters column (previously called Stork and Reaper) for more SEC filing updates. For the latest new hires and fund launches, explore our People on the Move and New Fund Fuss columns. If you have a fund filing, a mutual fund launch, a product change or a new hire that you would like to announce, please contact the MFWire team at editors@investmentwires.com. Printed from: MFWire.com/story.asp?s=54890 Copyright 2016, InvestmentWires, Inc. All Rights Reserved |