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

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

Rating:DWS' Move Puts Dreman's Hoover in Charge Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, June 22, 2010

DWS' Move Puts Dreman's Hoover in Charge

Reported by Sean Hanna, Editor in Chief

Deutsche Bank's DWS Investments has pulled the plug on the internal team running its International Value Fund had tapped Dreman Value Management as subadvisor instead. DWS will rebrand the mutual fund as the DWS Dreman International Value Fund as part of the move.

Ingo Gefeke, global head of distribution and product management at DWS Investments, stated that the switch is part of an effort by DWS to hire proven sub-advisors for its funds. However, the fund has turned in subpar performance under its current Deutsche Asset Management team.

The switch puts Dreman's Cliff Hoover in charge of the portfolio, stated Doug Beck, U.S. head of product management at DWS Investments. He replaces a team of Deutsche portfolio professionals that included: Klaus Kaldemorgen, Carmen Weber and Hansjoerg Pack.

Hoover has been PM for a international equity fund before. For about four years from 2003 to 2006 he was the lead for the Allianz NFJ International Value Fund. He has led Dreman's international value and all-cap teams since joining that firm. He is also the lead PM on Dreman Contrarian International Value (DRIVX)

The switch in subadvisors also means a switch in benchmarks for the fund. The new index will be the Russell Global ex-US Value Index rather than the MSCI EAFE. The change allows a larger allocation (up to 50 percent) to emerging markets from the 20 percent cap before. 

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

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
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:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use