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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Monday, October 31, 2016 Filings for Fundsters - October 31, 2016 RebrandingOn December 29, the Advantus Short Duration Bond Fund will be renamed the Advantus Strategic Credit Income Fund. The new fund will update its current investment objective and principal investment strategies. On December 27, the Westcore MIDCO Growth Fund will be renamed the Westcore Mid-Cap Value Dividend Fund II. The Westcore Growth Fund will also undergo a name change and it will become the Westcore Large-Cap Dividend Fund. The new funds will shift their current investment objectives and principal investment strategies. On December 30, the Old Westbury Large Cap Core Fund will undergo a name change and become the Old Westbury All Cap Core Fund. The fund will also shift its strategy and begin to follow the MSCI ACWI Investible Market Index, instead of the MSCI ACWI Large Cap Index. This fund is also updating its fees, as well as updating their management, and gaining three new PMs: Jeffrey Rutledge, John Hall and Michael Morrisroe. Alexander Lloyd no longer serves as a PM to this fund. The Old Westbury Small & Mid Cap Fund, another fund within the trust, will undergo a name change and become the Old Westbury Small & Mid Cap Strategies Fund. This fund is also undergoing portfolio management changes. John Hall and Michael Morrisroe no longer serve as PMs to this fund. They are replaced by Nancy Sheft and Holly MacDonald. Sheft and MacDonald are also now co-PMs of the Old Westbury Large Cap Strategies Fund, yet another fund in the trust. On December 30, the Alger Green Fund will undergo a name change and become the Alger Responsible Investing Fund. The new fund will also shift its investment strategy. On December 31, the WST Asset Manager – U.S. Equity Fund will undergo a name change and become the WSTCM Sector Select Risk-Managed Fund. The WST Asset Manager – U.S. Bond Fund, another member of the trust, will also undergo a name change become the WSTCM Credit Select Risk-Managed Fund. ***
FeesAs of October 1, the M Large Cap Value Fund, a member of the M Fund, Inc, has updated their advisory fees. On November 28, the O’Shaughnessy All Cap Core Fund, the O’Shaughnessy Enhanced Dividend Fund, the O’Shaughnessy Small/Mid Cap Growth Fund, the O’Shaughnessy Market Leaders Value Fund and the O’Shaughnessy Small Cap Value Fund will change their minimum investment for each fund's Class I shares. As of October 27, the SMI Bond Fund, the SMI Conservative Allocation Fund, the Sound Mind Investing Fund, the SMI 50/40/10 Fund, the SMI Dynamic Allocation Fund, the Golub Group Equity Fund, the Dana Large Cap Equity Fund, the Dana Small Cap Equity Fund the Green Owl Intrinsic Value Fund and the Granite Value Fund, all members of the Valued Advisers Trust, have updated their fund policy on market timing. On November 1, the BlackRock New York Municipal Opportunities Fund will update its shareholder fees and annual fund operating expenses. As of October 25, the Deutsche X-trackers High Yield Corporate Bond – Interest Rate Hedged ETF and the Deutsche X-trackers Emerging Markets Bond – Interest Rate Hedged ETF have updated their management fees. The SPDR MSCI EAFE Fossil Fuel Reserves Free ETF and the SPDR MSCIEmerging Markets Fossil Fuel Reserves Free ETF are updating their creation and redemption transaction fees. As of October 26, the Weiss Alternative Balanced Risk Fund has updated its shareholder fees and annual fund operating expenses. On December 1, the Salient Adaptive Income Fund will update the fund's annual operating expenses. ***
TrusteesAs of October 17, Drew Lawton has resigned from his position as independent trustee on the board of trustees of the Principal Exchange-Traded Funds and the Principal Funds, Inc. ***
ManagementOn December 2, Eaton Vance Management will become the new investment sub-advisor to the High Yield Fund, a member of the Consulting Group Capital Markets Funds. Eaton Vance is replacing PENN Capital Management Co., Inc. On December 12, ALPS Fund Services, Inc will no longer serve as transfer agent to the Wakefield Managed Futures Strategy Fund. They are being replaced by Gemini Fund Services, LLC. ***
Exemptive ReliefTransamerica Funds is requesting exemptive relief to participate in an interfund lending program. ***
Fund Mergers and LiquidationsOn November 23, the Christopher Weil & Co. Global Dividend Fund, a series of the PFS Funds, will terminate and liquidate. On December 12, the Salient Investment Grade Fund and the Salient Frontier Strategy Fund and the Salient Commodity Long/Short Strategy Fund will be terminated and liquidated. On February 28, 2017, the Salient EM Dividend Signal Fund and the Salient High Yield Fund and the Salient EM Corporate Debt Fund will be terminated and liquidated. ***
SubadvisorsOn December 31, Alan Habacht will retire from Taplin, Canida & Habacht, LLC. They are the subadvisor to the BMO TCH Emerging Markets Bond Fund, the BMO TCH Corporate Income Fund and the BMO TCH Core Plus Bond Fund. ***
Share ClassesAs of October 25, the Class A shares of the First American Institutional Prime Obligations Fund will be closed to new investors. On December 8, the Class A shares will be converted to Class Y shares. ***
New and Upcoming FundsOppenheimer is launching the Oppenheimer Revenue Weighted ETF Trust, containing the Oppenheimer ESG Revenue ETF and the Oppenheimer Global ESG Revenue ETF. Oppenheimer is also launching the Oppenheimer International Growth and Income Fund. Premise Capital, LLC is launching the Premise Capital Frontier Advantage Diversified Tactical ETF. Stone Ridge is launching the Stone Ridge Post-Event Reinsurance Fund. CSat Investment Advisory, L.P is launching the American Customer Satisfaction Core Alpha ETF. Nuveen is launching the Nuveen California Intermediate Municipal Bond Fund. ***
Investment StrategyAs of September 1, the Franklin LifeSmart Retirement Income Fund, the Franklin LifeSmart 2020 Retirement Target Fund, the Franklin LifeSmart 2025 Retirement Target Fund, the Franklin LifeSmart 2030 Retirement Target Fund, the Franklin LifeSmart 2035 Retirement Target Fund, the Franklin LifeSmart 2040 Retirement Target Fund, the Franklin LifeSmart 2045 Retirement Target Fund and the Franklin LifeSmart 2050 Retirement Target Fund no longer track the Citigroup 90-Day Treasury Bill Index. Instead, the funds will now track the Payden & Rygel 90 Day U.S. Treasury Bill Index. As of October 1, the Putnam Floating Rate Income Fund shifted its investment strategy, and is now tracking the Bloomberg Barclays U.S. High Yield Loan Index. Previously, the fund tracked the S&P/LSTA Leveraged Loan Index. ***
Portfolio Managers
John Moody is now a co-PM of the Deutsche CROCI U.S. Fund. As of October 26, Martin Steinik no longer serves as a PM of the Brown Capital Management International Equity Fund and the Brown Capital Management International Small Company Fund. Nicola Stafford is now a PM of the Fidelity Select Portfolios Consumer Discretionary Sector. Richard Malnight is now a PM of the Fidelity Select Portfolios Materials Sector. Kyle Weaver no longer serves as a PM for the Fidelity Select Portfolios Telecommunications Services Sector. He is replaced by Matthew Drukker. As of October 21, Allen Goody no longer serves as a co-PM of the Miles Capital Alternatives Advantage Fund. Steve Stotts is now the sole PM of the fund. As of October 27, Mark Broughton, Stacie Cowell, and Michael Emery are now co-PMs of Rainier's segment of the State Farm Mutual Fund Trust. Previously, this segment was managed by Westwood under PMs Mark Freeman, Lisa Dong, Matt Lockridge, Scott Lawson and Varun Singh. ***
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=55053 Copyright 2016, InvestmentWires, Inc. All Rights Reserved |
