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Fund Changes - Oct-18
 Fund Changes
 Weeklies History:

Fund Changes Weekly


Week 40: 10/1/2018-10/5/2018

John Alexander Christie and Jeffrey A. Rutledge of Bessemer Investment Management will join the team managing the Old Westbury Large Cap Strategies fund, replacing Harry Hagey, Jr....Fergus Shiel plans to retire on March 29, 2019, and will no longer manage the Fidelity Capital Appreciation fund ($6.5 billion) (Asher Anolic and Jason Weiner will become co-managers of the fund starting October 1, 2018)...Daniel J. Fuss will no longer serve on the team managing the Loomis Sayles Investment Grade Bond fund ($5.5 billion). The fund will also modify its investment strategy, removing the flexibility to invest up to 10% of its assets in equity securities and now allowing investment of up to 30% of assets in U.S. dollar-denominated foreign securities (where previously it could invest any portion of its assets in securities of Canadian issuers and up to 20% of its assets in other foreign securities)...Effective January 1, 2019, Ashish Shah will replace Jonathan Beinner on the portfolio management team of the Goldman Sachs Strategic Income fund ($3.5 billion) and Goldman Sachs Core Fixed Income fund ($1.1 billion) (Beinner will retire from Goldman Sachs on March 31, 2019)...Fidelity registers the Fidelity SAI Inflation-Focused fund, which will invest in commodity-linked derivative instruments, inflation-indexed securities, U.S. Treasury securities, cash, and cash equivalents, with up to 25% invested in a wholly-owned subsidiary organized under the laws of the Cayman Islands that invests in commodity-linked derivative instruments (the fund will be offered exclusively to certain Fidelity clients and affiliates)...Virtus registers the actively managed Virtus WMC Risk-Managed Alternative Equity ETF, which will be sub-advised by Wellington Management Company and will invest in a broadly diversified portfolio of global equity securities, utilize futures contracts and options, and target an equity portfolio beta of 0.45, similar to the volatility typical of long/short equity hedge fund strategies...Gunther Stein, CEO and chief investment officer of Symphony Asset Management, will no longer serve as a portfolio manager to the Nuveen Symphony Floating Rate Income fund ($2.4 billion), leaving Scott Caraher as the sole portfolio manager to the fund...Garth Yettick will join Denny Fish, replacing J. Bradley Slingerlend, to co-manage the Janus Henderson Global Technology fund ($3.1 billion)...Eli Rabinowich and John C. Hardy will jointly manage the Lord Abbett Value Opportunities fund ($3 billion) and Lord Abbett Small Cap Value fund ($1.1 billion), replacing Thomas B. Maher and Justin C. Maurer...BlackRock Investment Management will join the sub-advisory team of the Bridge Builder Municipal Bond fund ($3.6 billion)...The Loomis Sayles Small Cap Growth fund will reopen to new investors effective October 1, 2018...The Artisan International Small Cap fund will open to new investors and will change its name to the Artisan International Small-Mid fund, shifting its investments to common stocks and other securities of small- and mid-cap companies...The Invesco Floating Rate fund ($2.6 billion) will allow payment for loans in U.S. dollars or another currency (previously the fund could only invest in loans or securities that were U.S. dollar denominated or otherwise provided for payment in U.S. dollars), and also adds the ability to invest in forward foreign currency contracts and futures contracts, using currency futures to hedge its exposure to foreign currencies...   MORE>>


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