Jeff Gundlach is again catering to his European fans. Next week Alma Capital will launch the Alma DoubleLine Core Plus Bond Fund, a Luxembourg-based UCITs fund powered by Gundlach's core plus fixed income strategy. This Los Angeles-based DoubleLine's [profile] second foray into Europe, following the launch of a total return UCITS fund from Nordea. Alma has offices in Casablanca, London, Luxembourg and Paris.
On Tuesday Kansas City, Missouri-based Scout Investments [profile] unveiled the Scout Emerging Markets Fund. It's PMed by Mark Weber and co-PMed by Eric Chenoweth.
Principal Funds [profile] hired Waltham, Massachusetts-based DDJ Capital, a $4-billion-AUM high yield asset manager, as a subadvisor for the five-star, neutral-rated, $5.4-billion Principal Global Diversified Income Fund. The fund's other subadvisors include: Guggenheim Partners Investment Management, Principal Real Estate Investors, Reaves W H & Co, Spectrum Asset Management, Stone Harbor Investment Partners and Tortoise Capital Advisors. DDJ is slated to start its work for the fund in January [filing].
Morningstar's "Fund Times" column reports that Delaware readdedMacquarie's Graham McDevitt as a PM for the four-star, $14.4-million Delaware International Bond Fund. Macquarie both owns Delaware and subadvises the fund. McDevitt previously PMed the fund from July 2011 through July 2012. Paul Grillo and Paul Matlack continue to PM the fund [filing].
Last week New York City-based MainStay Investments, New York Life's mutual fund arm, finalized the adoption of the Marketfield Fund. Rebrand as the MainStay Marketfield Fund, the five-star, bronze-rated long-short equity fund boasts $3.2 billion in assets. That's up from $1.7 billion in June when MainStay revealed its adoption plans. Marketfield Asset Management remains as subadvisor to the fund, and Marketfield president is still the PM.
Brown Brothers Harriman & Co [profile] is preparing to close its BBH Core Select Fund to new investors. According to the New York City-based mutual fund shop, the five-star, silver-rated fund has attracted more than $1.5 billion in new assets since August. BBH plans to close the gate when the fund hits $3.5 billion — it currently has $3.3 billion, almost half of BBH's mutual fund assets.
Today New York City-based WisdomTree [profile] revealed plans to shut down three ETFs: the $14.3-million WisdomTree LargeCap Growth Fund; the $6.6-million WisdomTree Dreyfus Japanese Yen Fund; and the $4.5-million WisdomTree Dreyfus South African Rand Fund.