The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SunAmerica Shakes Up its Fund Lineup Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 27, 2009

SunAmerica Shakes Up its Fund Lineup

Reported by Meredith Mazzilli

AIG SunAmerica is is making changes to its fund lineup, including mergers and sub-advisor changes.

According to an SEC filing on Friday, the Growth Opportunities Fund, the New Century Fund and the Focused Mid-Cap GrowthPortfilio will, subject to shareholder approval, all organize into the Small-Cap Growth Portfolio. The combined funds will form the Focused Small-Cap Fund, which will drop BAMCO, Inc. as its investment adviser and instead be managed day to day by SunAmerica Asset Management.

The Growth and Income Fund, the Balanced Assets Fund will reorganize into the Focused Growth and Income Portfolio, and will assume the name Growth and Income Combined Fund. The fund, formerly advised by BlackRock, will also be advised by SunAmerica after the proposed reorganization.

In addition, SunAmerica filed last Friday for a shareholder meeting that would seek approval for the Senior Floating Rate Fund and High Yield Bond Fund to enter into asubadvisory agreement with the Wellington Management Company. The vote, slated for September 15, will also seek the related shareholder approval for the operation of the funds in a manager-of-managers structure and enter into subadvisory agreements with unaffiliated subadvisers.

AIG Capital Investments Group served as the funds subadvisor until July 23. The filing noted that AIGGIC was evaluated by the board and independent directors, and the two funds were found to have underperformed their benchmarks and peer group both short-term and long-term.

Boston-based Wellington has served as the interim advisor since the termination of AIGCIG, and as of March 31, 2009 had investment management authority over roughly $396 billion in assets. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use