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Rating:Stork and Reaper for August 13, 2012  Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, August 13, 2012

Stork and Reaper for August 13, 2012

Reported by JY

The Reaper compensated for his more than spotty attendance by closing two funds today.

Marsico Capital Management [profile] filed for the liquidation of its Emerging Markets Fund. The filing notes the fund's small size and limited growth potential. As of August, 10, 2012, the fund has $4.8 million in AUM, according to data from Morningstar. The fund will be closed by September 21, 2012. [SEC Filing]

Harbor Funds [profile] filed for the liquidation of its Flexible Capital Fund. The fund will be closed on October 31, 2012. As of August 10, 2012, the fund has $21.6 million in AUM, according to its profile on Morningstar. [SEC Filing]

In the meanwhile, other funds are being reorganized.

Lord Abbett [profile] added Jeffrey Lapin as PM to its Floating Rate Fund. He will manage the fund with co-PM Christopher Towle. [SEC Filing]

Lord Abbett also added Thomas O'Halloran as PM to its Stock Appreciation Fund. [SEC Filing]

Franklin Templeton [profile], subadvisor to SunAmerica Asset Management's [profile] Small Company Value Portfolio added Steven Raineri to the fund's management team. Raineri has been with Franklin Templeton since 2005. [SEC Filing]

Franklin Templeton also added Peter Nori to manage the Foreign Value Portfolio. Nori has been with the company since 1996. [SEC Filing]

Kyle Pankratz, from Integrity Funds, resigned as co-PM of the Dividend Harvest Fund. The fund will continue to be managed by Shannon Radke, Josh Larson and Michael Morey. [SEC Filing]

American Funds has filed for Nicholas Grace from Capital World Investors to take over the New World HLS Fund from Robert Lovelace. [SEC Filing]  

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