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| * This index includes all changes posted on this page, plus all changes posted in the manager change archive. To loacate a change posted on this page, you can also use the "find on page" function that comes with your browser. You can search for funds by name, or you can search for changes posted in a particular month using the format M/YY. For example, to find manager changes posted in June 2008, search for 6/08. |
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About this page
This page (and the accompanying archive) primarily cover manager changes at stock and balanced mutual funds since the inception of FundAlarm (July, 1996). Selected manager changes at bond funds are also reported. This page is updated once a month, on the first day of the month (the same update schedule as the rest of the FundAlarm site).
- Section One (immediately below) is a drop-down index, listing all funds affected by manager changes that are posted on this page or the archive.
- Section Two lists manager changes posted this month, in alphabetical order by fund name.
- Section Three lists manager changes posted in previous months, also in alphabetical order by fund name. The date in brackets is the issue of FundAlarm in which the notice was originally posted. Postings remain on this page for 12 months, after which they are transferred to the Archive.
- Section Four lists fund companies recently sold, or reported up for sale. This information is of interest, because such companies often experience manager turnover.
We are committed to keeping the information on this page as complete and accurate as possible. If you wish to suggest a correction or addition, please e-mail. We will respond promptly.
Section One:
Index of all manager changes posted on FundAlarm
If your fund is listed in the scroll box below, it has been affected by a manager change that is posted on this page or on the archive page. Exit the index and scroll down the page to locate the information on your fund, or return to the menu at the top. [Top]
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Section Two:
Manager changes posted for this month (July 2008)
 American Century Fundamental Equity: The management team of Jerry Sullivan and Robert Brookby is gone -- off to join Putnam (see below). The new managers of this fund are Gregory Woodhams, Prescott Legard, Justin Brown and Joe Reiland. [7/08]
BlackRock Small Cap Growth Equity: Neil Wagner and Eileen Leary leave this three-person team. Continuing manager Andrew Thut is joined by Andrew Leger. [7/08]
BlackRock Small/Mid Cap Growth: Neil Wagner leaves this four-person team. Continuing managers Andrew Thut, Andrew Leger and Rob Hallisey will carry on without Wagner. [7/08]
Driehaus Emerging Markets Growth: Here's one we missed: Lead manager Emery Brewer retired on December 31, 2007, and Howard Schwab now runs this fund solo. [7/08; thanks to "BWG," who alerted us to this change in a post on the FundAlarm Discussion Board]
Fairholme: Here's another one we missed: Back in March 2008, Larry Pitkowsky stepped down as comanager. Bruce Berkowitz and Keith Trauner continue in charge, joined by Charles Fernandez and Paul Thomson. [7/08; thanks to "tgeno," who alerted us to this change in a post on the FundAlarm Discussion Board]
Fidelity Advisor Asset Manager (20%/30%/40%/50%/60%/85%): See Fidelity Asset Manager, below. [7/08]
Fidelity Advisor Short Fixed-Income: See Fidelity Short-Term Bond, below. [7/08]
Fidelity Asset Manager (20%/30%/40%/50%/60%/70%/85%): Richard Habermann retires as comanager, after 40 years with Fidelity (Habermann is referred to internally as "The Dude Who's Older Than The Big Mac"). Derek Young now runs these funds solo. [7/08]
Fidelity International Small Cap: Tokuya Sano is out as manager of Japanese stocks, and Noriko Takahashi takes over. An April 2008 change saw Ben Paton leave as manager of European stocks, and Colin Stone replace him. [7/08]
Fidelity Select Banking: Manager Ramona Persaud heads for the revolving door, as Vincent Montemaggiore settles in (but not too firmly) to the managerial chair. [7/08]
Fidelity Short-Term Bond: Comanager Andrew Dudley is out, replaced by Robin Foley. (In March, Fido indicated that Dudley was on a leave of absence, but that apparently is no longer the case.) Lead manager Robert Galusza remains in charge. [7/08]
Fidelity Small Cap Stock: Long-time manager Paul Antico reires, and Andrew Sassine takes over. [7/08]
Fidelity Ultra Short Bond: Comanager Andrew Dudley is out, and lead manager Robert Galusza now runs this fund solo. [7/08]
GAMCO Westwood SmallCap Equity: Elizabeth Lilly is out as manager, and Nicholas Galluccio replaces her (Galluccio is coming over from TCW -- see below). [7/08]
Japan: The directors of this fund are about to do it again: Six years ago, the directors fired Scudder and hired current manager Fidelity to run this fund. Now, if the directors have their way, shareholders will vote in August to boot Fidelity, and Nomura Asset Management U.S.A. will take over. [7/08]
MFS Global Growth: Nicholas Smithie leaves comanager Barry Dargan behind. Replacing Smithie is Jeffrey Constantino. [7/08]
Oppenheimer Main Street: Nikolaos Monoyios retires as comanager. Marc Reinganum (sorry, that's "Dr. Reinganum," according to the prospectus), continues as comanager, joined by Mark Zavanelli and Alex Zhou. [7/08]
Oppenheimer Main Street Opportunity: Nikolaos Monoyios retires as comanager. Mark Zavanelli continues as comanager, joined by Dr. Marc Reinganum . [7/08]
Oppenheimer Main Street Small Cap: See Oppenheimer Main Street Opportunity, above. [7/08]
Putnam Capital Appreciation: Comanager Richard Cervone is leaving the firm, and lead manager/comanager James Wiess/Joseph Joseph are stepping aside to make room for the new team of Jerry Sullivan and Robert Brookby, who are coming over from American Century (above). [7/08]
Putnam Investors: Comanager Richard Cervone is leaving the firm, and lead manager James Wiess is stepping aside to make room for the new team: Jerry Sullivan and Robert Brookby, who are coming over from American Century (above). [7/08]
Putnam Tax Smart Equity: See Putnam Investors, above. [7/08]
TCW Value Added: Nicholas Galluccio leaves as lead manager, and leaves the firm (he is headed for GAMCO, specifically GAMCO Westwood SmallCap Equity -- see abovr). Galluccio is replaced by Darleen Boyle and Jay Gibbons; Galluccio's comanager, Susan Suvall, stays on, and rounds out the new team. [7/08]
TCW Value Opportunities: Nicholas Galluccio leaves as lead manager, and leaves the firm. Galluccio is replaced by Jay Gibbons; Galluccio's comanager, Susan Suvall, stays on, and will work with Gibbons. [7/08]
Vanguard Capital Value: Manager David Fassnacht, of subadvisor Wellington Management, is no longer in charge. The fund's new boss is Peter Higgins, also of Wellington. [7/08]
Vanguard Windsor: Manager David Fassnacht is no longer in charge of Wellington's portion of this fund. James Mordy now runs the Wellington slice. [7/08]
Section Three:
Manager changes posted for the preceding eleven months (August 2007 through June 2008)
~A-E~
AIM Constellation: Manager Lanny Sachnowitz is sacked, and a member of his team (Robert Lloyd) is now in charge. Lloyd is assisted by a new face, Ryan Amerman, and two old faces under Sachnowitz (Kirk Anderson and James Birdsall) are now gone. [3/08]
AIM Global Aggressive Growth: James Birdsall is removed as manager of this fund's domestic portfolio, and Paul Rasplicka takes his place. The rest of the four-person team is unchanged. [3/08]
AIM Global Growth: Kirk Anderson is removed as manager of this fund's domestic portfolio, and Robert Lloyd replaces him. The other three team members are unchanged. [3/08]
AIM Technology: Lanny Sachnowitz is removed as manager, replaced by Warren Tennant. [3/08]
American Century Real Estate: Scott Blasdell is out as manager. Former co-manager Kay Herr will now run this fund solo. [5/08]
American Century Small Cap Value: Steve Roth leaves as comanager. Replacing Roth (and joining continuing lead manager Benjamin Giele) is James Pitman. [4/08]
American Century Tax-Free Bond: Robert Miller leaves as lead portfolio manager, and leaves the firm. Alan Kruss replaces him.
[4/08]
American Century Ultra: Wade Slome is gone as co-manager. New co-manager Steve Lurito joins Tom Telford, who remains as part of the management team. [9/07]
AMF bond funds (several): For each AMF fund below, David Petrosinelli leaves as a member of the same three-person management team, and David Adamson takes over for him (the continuing members of the team are Kevin Blaser and Beatriz Barros):
|
|
- Intermediate Mortgage
- Short U.S. Government
- Ultra Short
- Ultra Short Mortgage
- U.S. Government Mortgage [6/08]
|
Aston/ABN AMRO Growth: ABN AMRO Asset Management is fired as manager. Montag & Caldwell, represented by Ron Canakaris, in now in charge. [1/08]
Aston Balanced: ABN AMRO Asset Management is fired as manager of the stock portion of this fund, and Ron Canakaris, of Montag & Caldwell, takes over. [1/08]
Baron Asset: Ron Baron steps down as co-manager, and Andrew Beck now runs the show by himself. [2/08]
BlackRock Municipal Insured: Robert DiMella is out as manager, and it takes three managers to replace him: Lead manager Walter O'Connor, joined by Michael Kalinoski and Theodore Jaeckel. [8/07]
Delaware Growth Opportunities: Steven Catricks and Liu-Er Chen leave this fund's nine-person management team. Chen had come over from Evergreen in September 2006, with great promise, and had just been appointed to help run this fund (July 2007). So much for that plan. No replacement for Catricks or Chen has been announced. [11/07]
Delaware Trend: See Delaware Growth Opportunities, above. [11/07]
Dreyfus funds (several): There have been manager changes at several Dreyfus funds, all with the same result: Someone is out, and William Patzer has taken over. Here are the details:
| Dreyfus fund | Old manager | New manager
|
|---|
| Founders International Equity | Remi Browne/Jeffrey Sullivan | William Patzer
| | Founders Passport | Daniel LeVan/John Evers | William Patzer
| Founders Worlwide Growth
(foreign portion) | Remi Browne/Jeffrey Sullivan | William Patzer*
| | Premier International Equity | Remi Browne/Peter Carpenter | William Patzer
| | Premier International Growth | Remi Browne | William Patzer
| | Premier International Small Cap | Daniel LeVan/John Evers | William Patzer
| | [posted 10/07; changes effective August 1, 2007]
|
* John Jares remains in charge of this fund's domestic portfolio
Dreyfus Founders Mid-Cap Growth: Daniel Crowe leaves as manager and leaves the firm. Morningstar reports that he is headed for Pyramis Global Advisors, Fidelity's new institutional money-management arm. Taking over for Crowe is the team of Joseph Chin and John Jares. [8/07]
DWS funds (several): At each fund shown below, Alex, Brown Investment Management is fired as subadvisor, and a new manager (affiliated with Deutsche Investment Management Americas) takes over:
| DWS fund | New manager(s)
|
|---|
| Communications | Ralf Oberannscheidt
| | Equity Partners | David Hone/Thomas Schuessler
| | Value Builder | David Hone
| | [4/08]
|
DWS Latin America Equity: Paul Rogers is out as co-manager, and Terrence Gray will now run this fund solo. [2/08]
Evergreen Global Opportunities: Donald Bisson leaves as comanager. New comanager James Tringas joins continuing comanager Francis Claro. [6/08]
Evergreen Mid Cap Growth: Donald Bisson leaves as manager, and leaves the firm. Bisson must be feeling pretty good, because it's going to take a team of four managers to replace him: Robert Junkin, Kenneth Doerr, Lori Evans and Julian Johnson. Fortunately for Bisson, he only had "$10,001 - $50,000" invested in the entire Evergreen fund family at the time of his departure*, even though he had been affiliated with Evergreen since 1996. Lack of commitment like that makes it so much easier for a manager to move on. [6/08]
* Actually, Bisson's meager holdings are as of 2/1/08, Evergreen's last official filing with the SEC. As of March 31, 2008, new managers Doerr, Evans and Johnson didn't have a penny invested in any Evergreen fund. Kind of makes Bisson look like a player, doesn't it?
Evergreen Small-Mid Growth: See Evergreen Mid Cap Growth, above. [6/08]
~F-J~
Fidelity Advisor Capital Development: Adam Hetnarski leaves as manager, and Harlan Carere is now in charge. [1/08]
Fidelity Advisor Financial Services: See Fidelity Select Financial Services, below. [2/08]
Fidelity Advisor Freedom funds: See Fidelity Freedom funds, below. [9/07]
Fidelity Advisor Global Capital Appreciation: Darren Maupin leaves as manager of this fund's non-U.S. holdings, and leaves the firm. Sammy Simnegar takes over. [1/08]
Fidelity Advisor Gold: See Fidelity Select Gold, below. [9/07]
Fidelity Advisor International Capital Appreciation: See Fidelity Aggressive International, below. [1/08]
Fidelity Advisor Japan: Dale Nicholls steps down as manager, and Robert Rowland is now in charge. [10/07]
Fidelity Advisor Large Cap Growth: See Fidelity Large Cap Growth, below. [8/07]
Fidelity Advisor Materials: See Fidelity Select Materials, below. [2/08]
Fidelity Advisor Mid Cap Growth: See Fidelity Mid Cap Growth, below. [2/08]
Fidelity Mid Cap Growth: Bahaa Fam is removed as manager, and Patrick Venanzi takes over. Fam has put up sub-par numbers. Venanzi is a rookie manager. Can we assume that this fund is not one of Fidelity's highest priorities? [2/08]
Fidelity Advisor Strategic Dividend & Income: See Fidelity Strategic Dividend & Income, below. [9/07]
Fidelity Advisor Strategic Income: See Fidelity Strategic Income, below. [9/07]
Fidelity Advisor Strategic Real Return: See Fidelity Strategic Real Return, below. [9/07]
Fidelity Advisor Value: See Fidelity Value, below. [8/07]
Fidelity Aggressive International: Darren Maupin leaves as manager, and leaves the firm. Sammy Simnegar takes over. [1/08]
Fidelity Freedom funds: Ren Cheng steps down as co-manager, and Christopher Sharpe takes Cheng's place. Current co-manager Jonathan Shelon will stay in place. [9/07]
Fidelity Global Balanced: Jeffrey Feingold is out as manager of this fund's U.S. portfolio, and Stephen DuFour takes over. [11/07]
Fidelity Growth & Income II: James Catudal steps down as manager, and Richard Mace takes over. This fund has been renamed Fidelity Mega Cap Stock Fund. [12/07]
Fidelity Intermediate Government Securities: Brett Kozlowski is out as manager, and William Irving takes over. [5/08]
Fidelity Large Cap Growth: Bahaa Fam steps down as manager, and Edward Best takes over. [8/07]
Fidelity Mortgage Securities: See Fidelity Intermediate Government Securities, above. [5/08]
Fidelity Puritan: Stephen Petersen leaves as co-manager, and Ramin Arani now handles this fund solo. [3/08]
Fidelity Select funds (several):
| Select fund | Previous manager(s) | New manager
|
|---|
| Defense and Aerospace | Andrew Hatem | Maurice FitzMaurice
| | Industrial Equipment | Vincent Montemaggiore | Jonathan Kasen
| | Insurance | Stephen Hermsdorf | Brian Wilhelm
| | Paper and Forest Products | John Sheehy/Justin Bennett | John Sheehy
| | [6/08]
|
Fidelity Select Air Transportation: Andrew Hatem is out as manager, and Maurice FitzMaurice takes over. [10/07]
Fidelity Select Chemicals: Duffy Fischer is out as manager, and Matthew Schuldt takes over. [2/08]
Fidelity Select Financial Services: Brian Younger steps down as co-manager, and leaves the firm. Richard Manuel is now sole manager. [2/08]
Fidelity Select Gold: Daniel Dupont is out as manager, and S. Joseph Wickwire, II takes over. Wickwire comes over from Evergreen, where he ran Evergreen Precious Metals with some distinction. The appointment of Wickwire also makes good on a Fidelity promise, from some time back, to put capable, experienced analysts in charge of Select funds and, presumably, to leave them in charge for more than one revolution of the earth around the sun. We'll see if this is the start of a long-awaited (and long-overdue) trend. [9/07]
Fidelity Select IT Services: Benjamin Hesse lasts less than a year as manager. Jane Liou, the new manager, will try to stay around for at least one complete circuit around the sun. [12/07]
Fidelity Select Leisure: Geoff Kuli is out as manager, and Peter Dixon takes over. [4/08]
Fidelity Select Materials: Duffy Fischer is out as manager, and Tobias Welo takes over. [2/08]
Fidelity Select Transportation: Lindsay Connor is now ex-manager of this fund, turning the reins over to Maurice Fitzmaurice. [11/07]
Fidelity Short-Term Bond: Comanager Andrew Dudley starts a leave of absence, of unspecified length. Lead manager Robert Galusza will handle the fund on his own in Dudley's absence. [4/08]
Fidelity Small Cap Value: Thomas Hense is now ex-manager of this fund, as Charles Myers takes over. [6/08]
Fidelity Southeast Asia: Allen Liu steps down as manager. He is replaced by Jess Tan. [5/08]
Fidelity Strategic Dividend & Income: See Fidelity Strategic Income, below. [9/07]
Fidelity Strategic Income: Christopher Sharpe leaves as co-manager, in order to move over to the Fidelity Freedom funds (above). Sharpe's former co-manager, Derek Young, will now run this fund solo. [9/07]
Fidelity Strategic Real Return: See Fidelity Strategic Income, above. [9/07]
Fidelity Total Bond: Eric Mollenhauer is out as co-manager, and Matthew Conti is now co-manager (with Ford O'Neil). [9/07]
Fidelity Value: Manager Rich Fentin takes a leave of absence, expected to be just a few months, and newly-appointed asistant manager Matthew Friedman will run the fund in Fentin's absence. [8/07]
Fidelity Worldwide: See Fidelity Global Balanced, above. [11/07]
First Investors Special Situations: See Paradigm Select, below. [1/08]
Huntington Growth: A reliable source tells us that Bernard Shinkel leaves as lead manager, and leaves the firm. It appears that his teammates, Martina Cheung and Jenny Jiang, will continue to run this fund, with a replacement for Shinkel likely to be named soon. [8/07]
Huntington New Economy: Bernard Shinkel leaves as manager, and leaves the firm. His replacement should be identified soon. [8/07]
ING Emerging Countries: Brandes Investment Partners is fired as subadvisor, and ING brings management of this fund in-house (subject to shareholder approval, the new manager is ING Investment Management Advisors). [5/08]
Janus: The exodus continues: David Corkins leaves as manager, and leaves the firm. Corkins is replaced by Jonathan Coleman, who will be assisted by Dan Riff. [11/07]
Janus Adviser Forty: Scott Schoelzel leaves as manager, and Ron Sachs takes over. [9/07]
Janus Adviser Large Cap Growth: See Janus Fund, below. [11/07]
Janus Adviser Long/Short: Dan Kozlowski leaves as comanager, and leaves the firm. David Decker and Daniel Riff continue at the helm. [4/08]
Janus Adviser Orion: See Janus Orion, below. [9/07]
Janus Aspen Forty: See Janus Adviser Forty, above. [9/07]
Janus Aspen Large Cap Growth: See Janus Fund, below. [11/07]
Janus Enterprise: Jonathan Coleman leaves as manager, to take over the flagship Janus Fund. Brian Demain (who?) takes over for Coleman. [11/07]
Janus Fundamental Equity: Minyoung Sohn leaves as manager, and leaves the firm. Jim Goff takes over, not that it matters much: Janus is in the process of merging this fund into Janus Reaearch. [12/07]
Janus Growth and Income: Another month, another experienced Janus manager bites the dust. This month, it's Minyoung Sohn who is stepping down, and it's Marc Pinto who is taking over for Sohn. [12/07]
Janus Orion: Ron Sachs steps down as manager (he's headed for Janus Twenty, below). John Eisinger, an analyst with about nine years of professional experience (and a team member of the Janus Research fund), takes over for Sachs. [9/07]
Janus Twenty: Manager Scott Schoelzel will retire from the firm at the end of 2007. Ron Sachs, who currently manages Janus Orion, will take over for Schoelzel. FundAlarm comments: In the late 1990s, Schoelzel drank the Janus Kool Aid with gusto, and investors in his funds paid dearly for his bad judgment and mistakes. Schoelzel should have known better, and the fact that he screwed up less than some of his peers doesn't let him off the hook. And even though we have absolutely no knowledge that Schoelzel was involved in any of the Janus market timing scandals, and as far as we know his name has never been linked with those scandals, we find it hard to believe that a manager as senior as Schoelzel didn't at least suspect what his peers and superiors were up to doing during those dark, sordid days. All that said, this fund has recovered nicely since 2001, and Schoelzel's overall track record, of almost exactly ten years, has been excellent. Schoelzel is the last seasoned, battle-scarred manager at Janus, so this really is the end of the era that many observers have been predicting at Janus since, well, the last era was in full swing. Ron Sachs has posted some terrific numbers at Orion, maybe even better than Schoelzel's, though Sachs has been plowing a different field and has had considerably fewer assets under management. With this promotion, Janus effectively says that Sachs is the company's new star; if we owned this fund, we'd probably let the new star show us what he can do. [9/07]
JHancock Large Cap Equity: Timothy Keefe leaves as a member of this three-person team and leaves the firm, reportedly for a hedge fund. Keefe's remaining teammates (Roger Hamilton and Timothy Malloy) will press on without him. [5/08]
~K-N~
Legg Mason Partners Capital: Brian Posner leaves as comanager, and leaves the firm. Brian Angerame will run the fund solo. [4/08; Update @ 6/08: Derek Deutsch now comanager with Angerame]
MainStay ICAP Equity: Lead manager Robert Lyon died on July 3. Lyon's management teammates, Jerrold Senser and Thomas Wenzel, will continue to run the fund. [8/07]
MainStay ICAP International: See MainStay ICAP Equity, above. [8/07]
MainStay ICAP Select Equity: See MainStay ICAP Equity, above. [8/07]
Managers California Intermediate Tax-Free: Evergreen Investment Management remains as subavisor, but day-to-day management shifts from Michael Pietronico to Mattew Kiselak. [1/08]
Managers Fremont Global: Kern Capital Management is fired as manager. Kern's portion of the portfolio will be distributed among one or more of the fund's five remaining subadvisors. [1/08]
Managers Fremont Institutional Micro-Cap: See Managers Fremont Micro-Cap, below. [1/08]
Managers Fremont Micro-Cap: Kern Capital Management is fired as manager, and the fund's portfolio is distributed among four new managers, with different investment styles: Next Century Growth Investors (micro-cap growth and small-cap growth); Lord, Abbett & Co. (micro-cap growth); WEDGE Capital Management (micro-cap value); OFI Institutional Asset Management (micro-cap core). [1/08]
Marsico Flexible Capital: Founding manager Corydon Gilchrist is moving out after about eight months on the job, and rookie manager A. Douglas Rao takes over. [8/07]
Masters' Select Equity: TCW is removed as one of this fund's six subadvisors. The 20% of the portfolio formerly assigned to TCW is allocated evenly (10% each) to Sands Capital Management (Frank Sands, Jr./Michael Sramek) and Turner Investment Partners (Christopher McHugh/William McVail). [5/08]
Masters' Select Equity: Stephen Burlingame (of TCW Investment Management) has disappeared as co-manager from the Masters' Select Web site, and we take that to mean he no longer works on this fund. Craig Blum, Burlingame's colleague at TCW, will now take a solo turn running TCW's 20% share of this fund. And now the folks at Masters' need to tell the SEC about this change, too. [3/08; thanks to FundAlarm readers "D & J" for bringing this item to our attention]
Masters' Select Focused Opportunities: TCW is removed as one of this fund's three subadvisors. The 33% of the portfolio that TCW had been managing is assigned to Sands Capital Management, with Frank Sands, Jr. and Michael Sramek handling the day-to-day chores for Sands. [5/08]
Matthews funds (several):
| Matthews fund | Old manager | New manager
|
|---|
| Asia Pacific Equity Income | Lead: Andrew Foster | Lead: Jesper Madsen
Co-manager: Andrew Foster
| | Asian Growth and Income | Lead: G. Paul Matthews
Co-manager: Andrew Foster | Lead: Andrew Foster
Co-manager: G. Paul Matthews
| | Asian Technology | Lead: J. Michael Oh
Co-manager: Mark Headley | Lead: J. Michael Oh
Co-manager: Mark Headley/Lydia So
| | China | Lead: Richard Gao
Co-manager: G. Paul Matthews/Mark Headley | Lead: Richard Gao
Co-manager: Mark Headley/Andrew Foster
| | Korea | Lead: G. Paul Matthews/Mark Headley
Co-manager: J. Michael Oh | Lead: J. Michael Oh
Co-manager: Mark Headley/Michael Han
| | Pacific Tiger | Lead: Mark Headley
Co-manager: Richard Gao | Lead: Richard Gao/Sharat Shroff
Co-manager: Mark Headley
| | [2/08]
|
Maxim Janus Large Cap Growth: Manager Scott Schoelzel has announced that he's leaving Janus at the end of this year, which means that he's also leaving this fund. Ron Sachs is taking over for Schoelzel at Janus, and it's almost certain that Sachs will be taking over here, too. [9/07]
MFS Strategic Value: Kenneth Enright retires as manager, and Gregory Locroft is now in charge. [1/08]
Morgan Stanley Diversified International Equity: Sandip Bhagat leaves as comanager, and Feng Chang will now run this fund solo. [6/08]
Morgan Stanley Diversified Large Cap Equity: See Morgan Stanley Diversified International Equity, above. [6/08]
Morgan Stanley Dividend Growth: It's a clean sweep: all three managers of this fund are gone (Ira Ross, James Solloway and Edward Ripple), and a new four-person management team takes their place (Gregory Lai, Steven Pelensky, Michael Petrino, and Jordan Floriani). [6/08]
Morgan Stanley Flexible Income Trust: Henry Choi leaves as a member of this four-person team. Steven Kreider replaces Choi. [6/08]
Morgan Stanley High Yield Securities: Henry Choi leaves as comanager, and Steven Kreider will now run this fund solo. [6/08]
Morgan Stanley Institutional Global Value Equity: Frances Campion leaves as lead manager of this six-person team, and leaves the firm. Colin McQueen moves up from team member to team leader, replacing Campion, but no new personnel are added. [11/07]
Morgan Stanley Utilities: Ed Gaylor and Steven Kreider are gone as managers, and Mary Jane Maly takes over. Maly has been part of the management team since January 2006, and it's not clear how she, working alone, is going to do what she and Gaylor together were unable to do (i.e., bring this fund out of its five-year funk). Kreider is the innocent bystander here: He ran the fixed-income portion of this fund which, recently, has essentially been non-existent. [9/07]
Neuberger Berman Fasciano: Michael Fasciano is removed as manager, and the team from Neuberger Berman Genesis takes over (Judith Vale/Robert D'Alelio/Michael Bowyer/Brett Reiner). Ultimately, however, none of this will matter, because the earth will be consumed by the sun. In the shorter term it also won't matter, because (pending shareholder approval) Neuberger is seeking to merge NB Fasciano into NB Genesis. [4/08]
~O-S~
Oppenheimer Quest Value: Christopher Leavy is gone as manager; Neil McCarthy and Joseph Higgins are now in charge. Oh, and while the managers were swapping places, the fund also changed its name to Oppenheimer Rising Dividend, which also reveals the fund's new strategy. Other than a new manager, new name, and new strategy, there's nothing to report. [9/07]
Osterweis Fund: Michael Hughes leaves as a member of this five-person team, and leaves the firm. According to a prospectus supplement, filed with the SEC, Hughes is not being replaced, at least in the short run. [5/08]
Osterweis Strategic Income: Gregory Hermanksi steps down as a member of this two-person team. Simon Lee replaces Hermanski, with Carl Kaufman continuing in the lead position. [change effective 1/08; posted 5/08]
Paradigm Select: John Walthausen is gone as manager. The team of Jonathan Vyorst and Jason Ronovech takes over for Walthausen [change effective 8/07, posted 1/08; thanks to "RC" for his persistence in bringing this change to our attention]
Paradigm Value: See Paradigm Select, above.
Pax World Women's Equity: Late last year, Pax World Management acquired Women's Equity (FEMMX) and renamed the fund Pax World
Women's Equity (PXWEX) (technically, the transaction was a reorganization/merger, but the result is the same). Coincident with this change, the former management team of FEMMX is out, and Sujatha Avutu is now in charge (Avutu comes from Evergreen, where she ran Evergreen Equity Income). [2/08]
Payden Core Bond: Brian Matthews is out as manager. James Sarni takes over, assisted by Kristin Ceva. Sarni, it should be noted, was simulataneously removed from Payden Limited Maturity (below), almost certainly for performance reasons, which means that he's good enough to manage one Payden fund (this one), but not good enough to manage another. All bosses should be so understanding of their employee's limitations. [4/08]
Payden Limited Maturity: James Sarni and Colleen Ambrose are removed as managers (Sarni moves to Payden Core Bond, above, and Ambrose apparently leaves the firm). Taking over for Sarni and Ambrose is the team of Mary Beth Syal and David Ballantine. [4/08]
PIMCO funds (several): At each fund below, Sudi Mariappa is out as manager, and Scott Mather takes over:
PIMCO Foreign Bond (Unhedged)
PIMCO Foreign Bond (U.S. Dollar Hedged)
PIMCO Global Bond (Unhedged)
PIMCO Global Bond (U.S. Dollar Hedged)
| [4/08]
| | | | |
PIMCO funds (several):
| PIMCO fund | Old manager | New manager
|
|---|
| Commodity RealReturn | John Brynjolfsson | Mihir Worah
| | RealEstate RealReturn | John Brynjolfsson | Mihir Worah
| | Real Return | John Brynjolfsson | Mihir Worah
| | [2/08]
|
PIMCO Extended Duration: James Keller leaves as manager, and Stephen Rodosky is now in charge. [8/07]
PIMCO Long Duration Total Return: See PIMCO Extended Duration, above. [8/07]
PIMCO Long-Term U.S. G |
