Week 25: 6/15/2009-6/19/2009 by Jennifer Mann and Pamela HillThe
Barclays Global Investor iShares S&P
Emerging Markets Infrastructure Index ETF (which launched on June 19, 2009)
has contractually agreed to waive its management fees in an amount equal to the
acquired fund fees and expenses incurred through June 30, 2011...
Dreyfus registers the
Dreyfus Premier Diversified Large Cap fund (a fund of funds with plans to create diversity by
exposure to different large cap equity portfolio managers and investment
styles)...
Van Kampen files the
Van Kampen Flexible Opportunities fund
(which will not limit investment to any style, type of security, industry,
sector, geography, or market cap)...The
Vanguard Convertible
Securities and
Eaton Vance Capital
& Income Strategies
funds close to new and existing investors...
Vanguard Developed Markets Index
and
Vanguard Institutional Developed Markets
Index have completed their transition from investing directly in
individual stocks and/or a combination of
Vanguard mutual
funds to investing substantially all of their assets directly in the common
stocks of their target indexes...
Principal funds modify CDSCs on certain
purchases of Class A shares and also change sub-advisory fees for certain
funds...
Legg Mason reduces the amount of round trips considered to be
frequent trading in their funds...
Columbia,
Jackson National,
Nationwide,
Reich & Tang,
Virtus, and
YieldQuest
liquidate
funds...
MORE>>Week 24: 6/8/2009-6/12/2009 by Jennifer Mann and Pamela HillGrail registers four ETFs...
Fidelity files a target-date
series (
Fidelity Freedom Index
series), along with filing the
Fidelity
Commodity Return,
Fidelity Series
Commodity Return,
Fidelity
Series Global ex-U.S. Index, and
Fidelity Series Inflation Protected Bond Index
funds...Certain
John Hancock funds will change their 12b-1 Plans from reimbursement
to compensation plans...The
Wells Fargo Advantage Municipal
Bond fund
will increase the total operating expense cap this fall for Institutional Class
shares...The
Allegiant Limited Maturity
Bond fund has modified its CDSC on Class A purchases of $1
million or more and reduced its finder's fee to dealers, and the
Allegiant Ultra Short Bond fund will no longer impose a CDSC on Class A purchases of
$1 million or more and will no longer pay a finder's fee to dealers...
Dreyfus and
Federated plan
to liquidate funds...
SSgA Funds Management will no
longer sub-advise the
Calvert Social Investment
Enhanced Equity
fund...The
Virtus Wealth Builder and
Virtus Wealth Guardian
funds may introduce
F-Squared Investments
as sub-advisor...The
Epoch U.S. Large Cap Equity,
MGI US Large Cap Growth Equity, and
MGI US Large Cap Value Equity modify
their definition of large cap companies, and the
RidgeWorth Small Cap Value Equity redefines
small cap companies...
MORE>>Week 23: 6/1/2009-6/5/2009 by Jennifer Mann and Pamela HillThe
Fidelity U.S. Bond Index fund approved
changes to its expense structure...Certain
State Street Global ETFs add a maximum additional variable fee for cash
creations/redemptions...
PIMCO registers six US Treasury
ETFs (along with the registration of the
PIMCO Real
Return 2019 and
PIMCO Real Return
2029 funds)...The
Vanguard Treasury Money
Market fund will reorganize into the
Vanguard Admiral Treasury Money Market fund...
Jennifer Uhrig will be replaced
by
Sonu Kalra in managing the
Fidelity Blue Chip Growth fund...
Duane Huff will join the
portfolio management team of the
JPMorgan Core Plus
Bond fund...The
PIMCO/Allianz OCC Renaissance (after making both a sub-advisory relationship
change and name change) will change its strategy focus to small to medium cap
undervalued companies (previously, undervalued companies with improving business
fundamentals)...The
Rydex Multi-Hedge Strategies
(formerly,
Rydex Absolute Return
Strategies) revises its strategy to seek
long-term capital appreciation with less risk than traditional equity funds
(where previously it sought to provide capital appreciation consistent with the
return and risk characteristics of the hedge fund universe)...The
SEI SIIT Real Return Plus
fund will change its name to the
Real
Return
fund, and with the removal of the word "Plus" from its name, the fund will
remove the alpha overlay strategy...The week had a number of sub-advisory relationship changes...
MORE>>