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Rating:Stork and Reaper for July 26, 2012 Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 26, 2012

Stork and Reaper for July 26, 2012

Reported by DW

The Stork delivered four new funds today.

William Blair will offer the International Leaders Fund, which will seek long-term capital appreciation. The fund will be managed by W. George Greig and Kenneth J. McAtamney. [SEC Filing]

MassMutual is offering three new funds: the S&P Mid Cap Index Fund, which seeks investment results comparable to the performance of the S&P MidCap 400 Index; the Russell 2000 Small Cap Index Fund, which seeks investment results comparable to the performance of the Russell 2000 Index; and the MSCI EAFE International Index Fund, which seeks results comparable to the performance of the MSCI EAFE Index. All three funds will be subadvised by Northern Trust Investments. Brent Reeder serves as the PM for the S&P Mid Cap Index Fund and the Russell 2000 Small Cap Index Fund, while Shaun Murphy serves as PM for the MSCI EAFE International Index Fund. In a phone interview with MFWire, MassMutual investment director Rick Schulitz explained that Northern Trust was chosen as the subadviser because of the firm's extensive experience in the mutual fund space and MassMutual's existing relationship with them. These three new funds are being offered to meet the needs of plan sponsors. [SEC Filing]

The Reaper continued to claim one fund a day.

Touchstone will close and liquidate its Touchstone Intermediate Fixed Income Fund, pursuant to a unanimous vote by its board of trustees on July 25. The fund is closed to new investments as of the close of business today, July 26. It will close and liquidate on or about August 27. [SEC Filing]

Meanwhile, other funds experienced PM changes.

There might be a reshuffling in T2 Partners Management LP's future. Glenn Tongue will serve as the sole PM for the Tilson Focus Fund, as Whitney Tilson, founder of Tilson Mutual Funds, reduces his involvement in the managing of the fund. Tongue and Tilson ran the fund together since its inception in 2005. The Focus Fund's objectives and strategy will remain unchanged. In a phone interview with MFWire, Tilson Funds consultant Rick Schumacher explained that Tilson's reduced involvement is due to his increased focused on managing hedge funds. [SEC Filing]

Matrix Capital Group has lost a PM on the USX China Fund. Ryan Jenkins resigned from his role as fund PM on July 20. He managed the fund with co-PM Christopher Anci, who will now be the sole fund PM. [SEC Filing]

CRM Funds has made additions to its team of PMs on two funds. Jonathan Ruch joined the CRM Small/Mid Cap and Thad Pollock joined the CRM Mid Cap Value Fund. [SEC Filing

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