On March 22, Market Vectors
] has launched
the Market Vectors Treasury-Hedged High Yield Bond ETF
On March 18 Nuveen
two new mutual funds, the Nuveen Santa Barbara Global Dividend Growth Fund
and the Nuveen Santa Barbara International Dividend Growth Fund
. Both new mutual funds are powered by Nuveen boutique Santa Barbara Asset Management
and PM by the boutique's chief investment officer, James Boothe
On March 18 Shelton Capital Management
] officially launched
its Shelton Green Alpha Fund
, sub-advised by Green Alpha Advisors
. MFWire previously reported
that the new fund softly launched on March 12.
Van Eck Global
] is switching indexes for two of its ETFs. Frankfurt, Germany-based Van Eck subsidiary Market Vectors Index Solutions GmbH revealed
that the $5.7-billion Market Vectors Agribusiness ETF
now follows the Market Vectors Global Agribusiness Index and the $11.6-million Market Vectors Solar Energy ETF
now tracks the Market Vectors Global Solar Energy Index.
On March 19 Sentinel Investments
plans to pull three interim co-PMs from four mutual funds, to be replaced by veteran Paradigm Capital Management
PM Jason Ronovech
. On March 30, Sentinel president and CEO Christian Thwaites
and co-PMs Daniel Manion
and Hilary Roper
will step down as interim co-PMs of: the four-star, neutral-rated
, $1.3-billion Sentinel Small Company Fund
; the two-star
, $102.6-million Sentinel Mid Cap Fund
; and the two-star
, $124.0-million Sentinel Sustainable Mid Cap Opportunities Fund
. The three-star
, $48.3-million Sentinel Mid Cap II Fund
will merger into the Mid Cap Fund on April 12.
Ronovech will serve as lead PM for the Small Company and Mid Cap Funds, and co-PM for the Sustainable Mid Cap Opportunities Fund. Carole Hersam
will stay on as co-PM for all three funds.
On March 18 Neuberger Berman
a new R6 share class, devoid of sales loads and 12b-1 fees. The new shares, available for seven of Neuberger's mutual funds — the Neuberger Berman Emerging Markets Equity Fund
, Neuberger Berman Genesis Fund
, Neuberger Berman High Income Bond Fund
, the Neuberger Berman Mid Cap Growth Fund
, the Neuberger Berman Real Estate Fund
, the Neuberger Berman Socially Responsive Fund
, and the Neuberger Berman Strategic Income Fund
— are designed specifically for the advisor-sold segment of the retirement plan marketplace.
They Grow Up So Fast
On March 18 Invesco PowerShares
that its PowerShares S&P 500 Low Volatility Portfolio ETF
passed $4 billion in AUM. The ETF launched in May 2011.
] filed to launch six ETFs tracking Russell
-powered fundamental indexes. Five of the six ETFs will simply be ETF versions of mutual funds Schwab already offers.
The Party's At Capacity
On March 15 Cambiar Investors
that, effective April 30, it will shut its flagship, five-star
, $1.4-billion Cambiar Small Cap Fund
to new investors. As of February 28, Cambiar boasted $2.18 billion in total, non-money market mutual fund assets, meaning the closing fund is 64 percent of that business.
Check back as we continue to update this column throughout the week.
If you have a mutual fund launch or product change that you would like to announce, contact the MFWire team at firstname.lastname@example.org.
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