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Friday, October 10, 2008

Masters Replaces Miller

by: Erin Kello

Bill Miller has been removed from the sub advisory roster of two funds. Morningstar's Fund Times reports that the Masters' Select Equity Fund and Masters' Select Value have tapped Clyde McGregor of Harris Associates to join the roster of sub-advisors.

Also in Fund Times is the news that John Hancock plans to adopt a Robeco fund. The company wants to adopt the Robeco Boston Partners Large Cap Value Fund and rebrand it as the John Hancock Disciplined Value Fund. There's one catch though; Hancock want to up the expense ratio from 75 bps to 100 bps and change it from a no-load to a load fund with a sales charge of 500 bps. A meeting for the shareholders will be held December 17. 

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