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Rating:Stork and Reaper for the Week of January 14, 2013 Not Rated 4.0 Email Routing List Email & Route  Print Print
Friday, January 18, 2013

Stork and Reaper for the Week of January 14, 2013

Reported by Neil Anderson, Managing Editor


On January 17 Chicago-based RiverNorth Capital Management [profile] launched the RiverNorth/Oaktree High Income Fund, with private equity giant Oaktree sub-advising the mutual fund. DoubleLine, a mutual fund shop that Oaktree holds a minority stake in, sub-advises an existing RiverNorth mutual fund.

On January Neuberger Berman [profile] launched the Neuberger Berman Dynamic Real Return Fund. Investment grade fixed income chief investment officer Andy Johnson and global sovereigns and interest rates chief Thanos Bardas are the new fund's lead PMs.

In December OppenheimerFunds launched the Oppenheimer Diversified Alternatives Fund. Alan Gilston PMs the new fund.

On January 14 Northill Capital's Riverbridge Partners debuted its first mutual fund, an all-cap U.S. equities product called the Riverbridge Growth Fund.

On January 15, Global X [profile] launched its second MLP ETF, the Global X Junior MLP ETF.

Southeastern Asset Management [profile] reportedly launched its first new U.S. open-end mutual fund in 15 years, the Longleaf Global Fund.

Piper Jaffray's Advisory Research recently launched the Advisory Research Strategic Income Fund.

On January 2 Natixis [profile] launched the McDonnell Intermediate Municipal Bond Fund.

At the beginning of the month Leawood, Kansas-based Cognios Capital debuted its first mutual fund, the Cognios Market Neutral Large Cap Fund.


On January 15, Jeff Gundlach's DoubleLine Capital [profile] filed to launch its first three stock mutual funds: the DoubleLine Equities Small Cap Growth Fund, the DoubleLine Equities Growth Fund and the DoubleLine Equities Global Technology Fund.

ProShares [profile] is reportedly prepping the ProShares Global Direct Infrastructure ETF for launch.

On January 2, the SEC approved T. Rowe Price's [profile] request to launch active ETFs.

On January 4 Advisors Preferred [profile] filed to launch the OnTrack Core Fund.

State Street Global Advisors [profile] reportedly filed to launch three more equity ETFs: the SPDR MFS Systematic Core Equity ETF, the SPDR MFS Systematic Growth Equity ETF and the SPDR MFS Systematic Value Equity ETF.

DST's ALPS [profile] is reportedly prepping four ETFs to track proprietary Goldman Sachs strategy indices. The proposed funds are the ALPS/GS Momentum Builder Growth Markets Equities and US Treasuries Index ETF, the ALPS/GS Momentum Builder Multi-Asset Index ETF, the ALPS/GS Momentum Builder Asia ex-Japan Equities and US Treasuries Index ETF and the ALPS/GS Risk-Adjusted Return US Large Cap Index ETF.

Northern Trust [profile] recently filed to launch four variable NAV money market mutual funds.

Gene Therapy

On January Litman/Gregory [profile] added Lazard Asset Management [profile] and Wellington Management Company [profile] as sub-advisors for the Litman Gregory Masters International Fund.

On January 15, Vanguard [profile] made its indexing switch to CRSP from MSCI, three months after the move was first announced.

In March Van Eck [profile] will reportedly switch its Market Vectors Solar Energy ETF to tracking an in-house index, the Market Vectors Global Solar Energy Index. The ETF currently tracks Ardour Capital Investments' Ardour Solar Energy Index.

On January 14 Vanguard [profile] dropped Hansberger Global Investors from the sub-advisor lineup for the $6.8-billion Vanguard International Value Fund. Fellow sub-advisors Edinburgh Partners Limited and Lazard Asset Management will take over the 17 percent of the fund previously handled by Hansberger.

Star Fidelity [profile] PMs Will Danoff and Joel Tillinghast joined the PM lineup for the Boston Behemoth's $157.1 billion Freedom Funds, the biggest target date mutual fund family in the business.

On January 28, Win Murray and Tony Coniaris will join Harris Associates [profile] star Bill Nygren as co-PMs of the Oakmark Select Fund.

Plastic Surgery

On January 31, DWS [profile] will drop Global Thematic Partners as sub-advisor for the DWS Global Thematic Fund and rebrand the fund as the DWS Global Growth Fund.


Guardian's RS Investments [profile] reportedly removed the RS Capital Appreciation Fund's PM team and will merge the fund with the RS Growth Fund in March.


On January 11 John Hancock [profile] completed its adoption of the Turner International Growth Fund, re-launching it as the John Hancock International Growth Equity Fund. Turner Investments [profile] president and co- founder Mark Turner continues to PM the fund.

Suspended Animation

On January 31, Fidelity [profile] will close the $3.9-billion Fidelity Small Cap Discovery Fund to new investors.


Aston [profile] will reportedly shut down the $22-million, one-star ASTON Dynamic Allocation Fund on January 30.

In December, BlackRock [profile] liquidated three of its BIF Multi-State Municipal Series money market mutual funds. BlackRock still operates at least eight other funds within the trust.

HSBC [profile] is slated to liquidate two money market mutual funds, the HSBC New York Tax-Free Money market Fund and the HSBC Tax- Free Money Market Fund, on January 31. The two money funds held a combined $423 million as of November 30, 2012. 

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