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Fund Changes - Apr-18
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 16: 4/16/2018-4/20/2018

Invesco PowerShares Capital Management, the investment advisor to PowerShares funds, will rebrand as "Invesco Capital Management," and the funds will change their names accordingly...Effective March 31, 2019, Rajeev Bhaman will retire as a portfolio manager and Vice President of the Oppenheimer Global fund ($11.29 billion), and John Delano will be the sole portfolio manager of the fund...Effective December 31, 2019, Stephen M. Knightly, of Frontier Capital Management, plans to retire and will no longer serve on the portfolio management team of the MassMutual Select Mid Cap Growth fund (Frontier and T. Rowe Price will continue to sub-advise the fund)...Wells Capital Management will join the sub-advisory team of the SEI SIIT World Equity EX-US fund; AJO and Ceredex Value Advisors will replace Analytic Investors and Lazard Asset Management on the sub-advisory team managing the SEI SIIT Large Cap Disciplined Equity fund; Ceredex Value Advisors will replace AQR Capital Management and Snow Capital Management on the sub-advisory team of the SEI SIMT Large Cap fund; and Schafer Cullen Capital Management will replace Coho Partners and Snow Capital as a sub-advisor to a portion of the SEI SIMT Large Cap Value fund...State Street Bank and Trust Company will replace JPMorgan Chase Bank and The Bank of New York Mellon as custodian to various Vanguard funds...The PowerShares BulletShares Corporate Bond target maturity date ETFs (to be renamed the Invesco BulletShares Corporate Bond target maturity date ETFs) will reduce their unitary management fee from 0.24% to 0.10%...Fidelity files two multi-subadvised funds: the Strategic Advisers Conservative U.S. Equity fund, which will invest in U.S. equities (or U.S. equity funds) with a strong track record of steady earnings growth and/or with lower volatility compared to the broader market, and also registers the Strategic Advisers Fidelity Core Income fund, which will seek a high level of current income through investing in investment-grade debt securities of all types and repurchase agreements for those securities (with up to 30% in high yield and emerging market debt)...American Century registers the American Century U.S. Quality Growth ETF, which will track an index constructed using a rules-based methodology that screens and weights large- and mid-cap U.S. companies based on fundamental measures of quality and growth, and also files the American Century Quality Diversified International ETF, which will track an index comprised of large- and mid-cap international companies with attractive growth, valuation, and quality fundamentals...The American Century Equity Income fund ($11.48 billion) will be open to all investors as of May 21, 2018...Arthur K. Weise will leave the teams managing the Lord Abbett Developing Growth and Lord Abbett Growth Leaders funds...Nishank Modi will replace Amna Qaiser on the portfolio management team of the Goldman Sachs Strategic Factor Allocation fund...The Lord Abbett Emerging Markets Currency fund will change its name to the Lord Abbett Emerging Markets Bond fund, and will invest 80% in debt securities that are tied economically to emerging market countries and derivative instruments that are intended to provide economic exposure to such securities. Previously, the fund invested in instruments that provided investment exposure to the currencies of, and in fixed income instruments denominated in the currencies of, emerging market countries...   MORE>>


Week 15: 4/9/2018-4/13/2018

Gregory S. Nassour will leave the portfolio management team of five Vanguard bond funds and two additional funds where he was the sole portfolio manager: the Vanguard Short-Term Investment-Grade fund ($61.4 billion) and the Vanguard Intermediate-Term Investment-Grade fund ($29.2 billion). He will be replaced by Samuel C. Martinez and Daniel Shaykevich on all the funds...Vincent C. Dupont and Karen A. Sesin will no longer help manage the AB Large Cap Growth fund ($6.3 billion), and the team of Frank V. Caruso, John H. Fogarty, and Vinay Thapar will now oversee the fund, as well as the AB Relative Value and AB Core Opportunities funds...Daniel P. Becker will leave the portfolio management team of the Ivy Large Cap Growth fund, leaving Bradley M. Klapmeyer as the sole portfolio manager to the fund, and Mark G. Beischel and Susan K. Regan will replace Rick Perry on the Ivy Balanced fund and Ivy Bond fund (to be renamed Ivy Corporate Bond), joining Matthew A. Hekman on the Ivy Balanced fund...Fidelity registers the Fidelity SAI Total Bond fund, which will have the same investment strategy and portfolio management team as the Fidelity Total Bond fund ($31.5 billion) but will be offered only to certain clients of Fidelity or its affiliates...Nuveen proposes the closed-end Nuveen Impact Bond 2025 Term fund, which will be sub-advised by Teachers Advisors and will invest in a broad array of bonds with direct and measurable positive societal impact in the areas of affordable housing, community and economic development, renewable energy and climate change, and natural resources...Harris Associates will replace Barrow, Hanley, Mewhinney & Strauss on the sub-advisory team of the GuideStone International Equity fund...BNY Mellon Investment Servicing (U.S.) will become the sole transfer agent of the Western Asset Money Market funds and the Western Asset Short Term Yield fund (previously, DST Asset Manager Solutions served as transfer agent for shares of the Western Asset U.S. Treasury Reserves fund and for certain shares of other funds)...Class C shares of Wells Fargo funds purchased through Ameriprise Financial will automatically convert to Class A shares after ten years...   MORE>>


Week 14: 4/2/2018-4/6/2018

Hoon Kim will no longer serve on the portfolio management team of a number of AQR funds, including the AQR Long-Short Equity fund ($6.1 billion), and the AQR Defensive Style and AQR Relaxed Constraint Equity funds...Stephen Lieu and Ivan Xie will join Bobby Bao to co-manage the Fidelity China Region fund...May Yu will join the portfolio management team of the Morgan Stanley Institutional Emerging Markets fund in April, and in June Amay Hattangadi will become a Managing Director of the fund's sub-advisor, Morgan Stanley Investment Management Company, and will serve as a portfolio manager to the fund (effective June 30, 2018, Munib Madni will no longer serve as a portfolio manager to the fund)...The Calvert Equity fund ($2.3 billion) adds disclosure regarding the introduction of the Manager Discovery Program, which will allocate up to 5% of the fund's net assets to "strong-performing yet often overlooked" minority and women-owned money management firms...BlackRock registers the iShares ESG U.S. Aggregate Bond ETF, which will track an index composed of U.S. dollar-denominated, investment-grade bonds from issuers selected for favorable ESG practices, and also files the iShares Robotics and Artificial Intelligence ETF, which will track an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and artificial intelligence... Goldman Sachs files the Goldman Sachs Access Emerging Markets USD Bond ETF, which will track an index designed to measure the performance of investment grade and high yield bonds issued by emerging market governments (or quasi-government entities) denominated in U.S. dollars...Invesco registers eight passively managed bond ETFs...ALPS proposes the ALPS Clean Energy ETF, designed to provide exposure to a diverse set of U.S. and Canadian companies involved in the clean energy sector including renewable energy sources and clean technologies...   MORE>>


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