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Rating:Stork and Reaper for the Week of May 24, 2013 Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 24, 2013

Stork and Reaper for the Week of May 24, 2013

Reported by Neil Anderson, Managing Editor

Pregnancies


T. Rowe Price plans to launch a new series of eleven target date funds to be called the T. Rowe Price Target Retirement Funds

Morningstar reported, in its "ETF Weekly" column, that Arrow [profile] filed for permission to launch the ArrowShares Global Enhanced HY Bond ETF.

Morningstar reported, in its "ETF Weekly" column, that WisdomTree [profile] filed for permission to launch the WisdomTree S&P 500 Managed Distribution Fund, an ETF designed to generate an annual yield of six percent.

Morningstar reported, in its "Fund Times" column, that USAA [profile] filed to launch the USAA Global Managed Volatility Fund, aiming for a July debut.

Morningstar reported, in its "Fund Times" column, that on May 10 Neuberger Berman [profile] filed to launch the Neuberger Berman Greater China Equity Fund. The fund will be PMed by Lihui Tang and Frank Yao, and its A shares will costs 187 basis points.

Morningstar reported, in its "ETF Weekly" column, that Emerging Global Advisors [profile] filed to launch four actively-managed emerging markets ETFs and eight passively-managed emerging markets ETFs.


The Party's At Capacity


Franklin Templeton is closing off the Mark Mobius-helmed Templeton Frontier Markets Fund to new investors as of June 28.

Births


Morningstar reported, in its "ETF Weekly" column, that last week Cambria Investment Management launched the actively-managed Cambria Shareholder YIeld ETF, for 59 basis points. Watch for Cambria, which already sub-advises an AdvisorShares active ETF, to roll out two more similar ETFs.

Last week Morgan Stanley Alternative Investment Partners [profile] unveiled its first mutual fund, the Morgan Stanley AIP Dynamic Alternative Strategies Fund. The fund is co-PMed by Ryan Meredith and Patrick Reid.


Brain Surgery


Value PM Mary Chris Gay has left Legg Mason to pursue other opportunities. She had helmed the Legg Mason Capital Management Value Fund. Sam Peters took over her responsibilities for the portfolio.

On May 20 Altegris [profile] revealed that it has added global macro strategies from 300 North Capital and Willowbridge Associates to the neutral-rated, $312.9-million Altegris Macro Strategy Fund.

Last week Federated [profile] revealed that international fixed income chief Ihab Salib will be the new PM of the three-star, $330.3-million Federated Emerging Market Debt Fund. Salib succeeds co-PMs Roberto Sanchez-Dahl and Paolo Valle, who left Federated.

Morningstar reported, in its "Fund Times" column, that Michael Alocco is no longer a PM for the three-star, $1.8-billion USAA Small Cap Stock Fund [profile].

Morningstar reported, in its "Fund Times" column, that Michael McLaughlin is no longer a PM for the two-star, $188.4-million Forward International Small Companies Fund [profile]. Bill Barker, Paul Broughton, Paul Herber, Justin Hill, David Janec, Oliver Knobloch, Jim O'Donnell and Nathan Rowader will continue to PM the fund.

Morningstar reported, in its "Fund Times" column, that on May 9 Northern Funds [profile] dropped Cohen & Steers [profile] as a sub-advisor for the three-star, $1.2-billion Northern Multi-Manager Global Real Estate Fund. CBRE Clarion Securities and EII Capital Management will continue to sub-advise the fund.

Morningstar reported, in its "Fund Times" column, that 13-year T. Rowe Price [profile] veteran Joe Milano who PMs the four-star, $4.0-billion T. Rowe Price New America Growth Fund will leave the company. T. Rowe Price Media & Telecommunications Fund PM Dan Martino will take over the New America Growth Fund.

Last week news broke that PMs Chad Meade, Ron Sachs and Brian Schaub are all leaving Janus [profile]. Sachs PMs the three-star, $8.6-billion Janus Twenty Fund and the two-star, $3.6-billion Janus Forty Fund. Meade and Schaub co-PM the five-star, $2.3-billion Janus Venture Fund and the five-star, $5.0-billion Janus Triton Fund. Morningstar reported, in its "Fund Times" column, that Jonathan Coleman of the Janus Fund will succeed Meade and Schaub, Marc Pinto will succeed Sachs on Janus Twenty and new hire Douglas Rao will take over Janus Forty.


Plastic Surgery


Morningstar reported, in its "Fund Times" column, that on July 31 Invesco [profile] will revamp and rebrand two quant mutual funds. The two-star, $350.8-million Invesco U.S. Quantitative Core Fund will become the Invesco Low Volatility Equity Yield Fund, and the three-star, $146.7-million Invesco Global Quantitative Core Fund will become the Invesco Global Low Volatility Equity Yield Fund.


Deaths


Endurance Fund Services has launched the Endurance Series Trust. The first mutual fund on this trust is the Gator Focus Fund, managed by Gator Capital Management.

John Hancock has launched two bond funds: the John Hancock Short Duration Credit Opportunities Fund and the John Hancock Global High Yield Fund.

Morningstar reported, in its "ETF Weekly" column, that Guggenheim will delist its $2.61-million Guggenheim Yuan Bond ETF on June 14 and distribute the remaining assets to shareholders on June 21. The ETF first launched in 2011.


They Grow Up So Fast


Last week Alpine Funds [profile] revealed that its five-star Alpine Global Infrastructure Fund recently passed the $100-million AUM mark.


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