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Fund Changes - Aug-18
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 34: 8/20/2018-8/24/2018

Marathon Asset Management will replace Northern Cross as sub-advisor to the Harbor International fund ($19.4 billion)...Charles Sterling will join Gregory Pappas, Matthew Conti, and Michael Weaver in managing the Fidelity Strategic Advisers Income Opportunities fund ($3.1 billion) (effective December 31, 2018, both Pappas and Conti are expected to retire). Jonathan Duggan will join Pappas as a portfolio manager to the Fidelity Strategic Advisers Short Duration fund ($7.9 billion), and will assume sole portfolio management responsibilities for the fund when Pappas retires...Tom Walsh will join the portfolio management team of the Baillie Gifford International Equity fund, while Jonathan Bates and Andrew Strathdee will retire and cease to serve as portfolio managers for the fund during the second quarter of 2019...James G. Gendelman will no longer help manage the American Century International Growth fund, among other funds...The Delaware Small Cap Core fund will close to new investors after the close of business on Oct. 19, 2018...Pending shareholder approval, the CMG Ultra Short Term Bond fund ($1.1 billion) (to be renamed the Columbia Ultra Short Term Bond fund) will unbundle its current unified fee structure, which combines the fundís management fee, other expenses, and transfer agency fees into a single fee. This change will allow the fund to offer additional share classes...   MORE>>


Week 33: 8/13/2018-8/17/2018

BlackRock registers the iShares Global Green Bond ETF, which will track an index composed of global investment-grade green bonds that are issued to fund environmental sustainability projects, while mitigating exposure to currency fluctuations versus the U.S. dollar...Allianz Global files the AllianzGI Green Bond fund, which will invest 85% in green bonds, primarily investing in investment-grade bonds of issuers located in both developed and emerging markets...Federated files the Federated Hermes SDG Engagement Equity fund, which will be sub-advised by Hermes Investment Management and will primarily invest globally in small and mid cap equity securities that will potentially provide long-term capital appreciation while contributing to positive societal impact aligned to the United Nations Sustainable Development Goals...Effective August 31, 2018, Richard A. Coghlan and Christopher Faulkner-MacDonagh will join Wyatt A. Lee as co-portfolio managers of the T. Rowe Price Real Assets fund ($3.1 billion), and effective January 1, 2019, Lee will step down from his responsibilities as a co-portfolio manager...Elizabeth Jones will no longer serve as a co-portfolio manager of the Buffalo Discovery fund ($2 billion)...Shilpa Mehra will join Daniel Kelley as a portfolio manager of the Fidelity Trend fund and will assume solo portfolio manager responsibilities for the fund after six to twelve months...Robert W. Baird & Co. files the Baird Small/Mid Cap Growth fund, which will invest 80% in the equity securities of U.S. and foreign small- and mid-cap companies (up to 15% of its total assets in equity securities of foreign companies)...The Goldman Sachs International Small Cap Insights fund will close to new investors effective November 16, 2018; the Virtus KAR Small-Cap Growth fund will no longer be available for purchase by new investors effective September 28, 2018; and the Wells Fargo Special Small Cap Value fund will close to new investors November 14, 2018...Richard Thompson will no longer serve as lead portfolio manager of the Fidelity Stock Selector Small Cap fund...Phillip Whitman will leave the team managing the Janus Henderson U.S. Managed Volatility fund, among other funds...   MORE>>


Week 32: 8/6/2018-8/10/2018

Effective June 30, 2019, John C. Keogh will retire from Wellington Management Company and will no longer serve on the portfolio management team of the Vanguard Wellington fund ($105 billion) and Vanguard Wellesley Income fund ($53.5 billion)...Camille Humphries Lee will replace Thomas Melendez as a portfolio manager to the MFS International Diversification fund ($12.8 billion) and the MFS Research International fund ($8.6 billion) (Melendez will no longer help manage the funds effective March 31, 2019); Natalie Shapiro will join Joseph Flaherty, Jr. to co-manage the MFS target risk and MFS Lifetime target date funds; and Jake Stone will join Geoffrey Schechter to co-manage the MFS Government Securities fund...Kent M. Stahl will retire and withdraw from the partnership of Wellington Management Group as of December 31, 2018, and will no longer co-manage the Hartford Capital Appreciation fund ($7.9 billion), leaving Gregg R. Thomas as the sole portfolio manager to the fund. Hartford also plans to reorganize the Hartford Global Capital Appreciation fund into the Hartford International Equity fund on October 29, 2018 (Stahl served as a portfolio manager to both funds)...Vanguard registers the Vanguard Global Credit Bond fund, which will seek to provide a moderate and sustainable level of current income through investment in corporate and non-corporate investment-grade debt securities issued throughout the world and denominated in global currencies (the fund will attempt to hedge some of its foreign currency exposure through the use of foreign currency exchange forward contracts)...State Street Global Advisors proposes three ETFs which will each track an index created by Kensho Technologies using artificial intelligence applied to regulatory filings to identify certain U.S.-listed equity securities of companies domiciled across developed and emerging markets worldwide. The SPDR Kensho Clean Power ETF will focus on companies driving innovation behind clean power; the SPDR Kensho Final Frontiers ETF will focus on companies driving innovation behind the exploration of deep space and deep sea; and the SPDR Kensho New Economies Composite ETF will focus on companies transforming the global economy through the use of "existing and emerging technologies, and rapid developments in robotics, automation, artificial intelligence, connectedness, and processing power"...AllianceBerstein registers the AB Short Duration Income fund...UBS files two ESG funds: the UBS Engage for Impact and UBS Sustainable Development Bank Bond funds...Invesco files the Invesco S&P 500 Equal Weight Communication Services ETF, which will track an equally weighted index comprised of common stocks of companies in the communication services sector, including companies from the following industries: diversified telecommunications services, wireless telecommunication services, media, entertainment, and interactive media & services...The State Street Target Retirement target date funds will convert all existing Class A shares to Class I shares of the same fund...The SMALLCAP World fund ($42.6 billion), of American Funds, updates its investment strategy to state that the fund may lend portfolio securities to brokers, dealers, and other institutions that provide cash or U.S. Treasury securities as collateral in an amount at least equal to the value of the securities loaned...   MORE>>


Week 31: 7/30/2018-8/3/2018

Goldman Sachs registers five ETFs that will track smart beta indexes created by Motif Capital Management, which will provide exposure to various themes including the "Data-Driven World," "Finance Reimagined," "Human Evolution," "Manufacturing Revolution," and "New Age Consumer"...Goldman Sachs also files the Goldman Sachs HFR Hedge Tracker Multi-Strategy ETF, which will track an index that includes long and/or short positions of ETFs and ETPs, and which seeks to identify the weights to sources of market risk and trading strategies that will approximate the return pattern of hedge funds that employ investment styles such as equity long/short, macro, event-driven, relative value, and other commonly-used hedge fund strategies...JPMorgan files five income-focused, actively managed ETFs...Joseph Lind will join the team managing the Neuberger Berman High Income Bond fund...The Lord Abbett Bond Debenture fund ($13.26 billion) will add government securities and inflation-linked instruments to its list of securities and other financial instruments in which it will primarily invest...The MFS Total Return Bond fund ($5.4 billion) will reduce its advisory fee, lower expense caps on all share classes, and will continue to waive 10 bp of the 12b-1 service fee for Class A, Class B, and Class 529A shares through August 31, 2019...Effective October 5, 2018, K.C. Nelson and Elizabeth Cassidy will resign from Driehaus Capital Management, the advisor to the Driehaus Active Income fund, and will no longer manage the fund (on August 3, 2018, Yoav Sharon, Thomas McCauley, and John Khym will become portfolio managers to the fund)...Effective September 4, 2018, the BlackRock Global Long/Short Credit fund ($3.9 billion), BlackRock Event Driven Equity fund ($742 million), and BlackRock Dynamic High Income portfolio ($651 million) will not charge a front-end sales load on purchases of Investor A shares of $250,000 or more (previously, no front-end sales load was charged on investments of $1,000,000 or more)...American Century will reduce the advisory fee of nine funds, including the American Century Global Bond fund ($1.5 billion) which will lower its unified management fee for each share class by 12 basis points...   MORE>>


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