Fund Close: Athena High Dividend ETF (DIVI)
on March 13 that the DIVI
ETF will close. On March 31, the fund will sell its equity positions, and April 3 will be the final day for creations or redemptions by authorized participants, and the last day of trading. Finally, on April 7 the fund will "cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders."
Company: American Beacon Advisors
New Funds: Alpha Quant Core Fund, Alpha Quant Dividend Fund, Alpha Quant Quality Fund, Alpha Quant Value Fund
American Beacon Advisors launched
four American Beacon Alpha Quant Equity Mutual Funds that "implement the quantitative approach of Alpha Quant Advisors, LLC.
" Each fund offers unique investment objectives, but all seek long-term capital appreciation.
Company: Active Alts
New Fund: Active Alts Contrarian ETF (SQZZ)
| Brad Lamensdorf|
Active Alts, Inc.
This ETF launched
by Active Alts "seeks capital appreciation by investing in companies with solid fundamentals that have very large short positions and are subject to a short squeeze." Active Alts subadvises
the new ETF, while Rational Advisors
is the new ETF's investment advisor.
Company: Selective Wealth Management
New Fund: Selective Opportunity Fund
Selective Wealth Management has launched
this fund, and chose Ultimus Fund Solutions
to provide fund administration services. Selective "intends to use the concentrated all cap mutual fund as the main investment offering for their clients." The fund will be part of one of Ultimus' four series trusts.
Fund Rename: Oppenheimer Total Return Bond Fund
Oppenheimer Funds will rename
its top decile fixed income fund from Oppenheimer Core Bond Fund,
to Oppenheimer Total Return Bond Fund,
effective June 1. In addition, OpFunds will reduce the Core Bond Fund's net expense ratios of A, Y and I-shares by 10, 15 and 11 basis points each, respectively, effective April 3. Similarly, the net expense ratios of A, Y, and I-shares of the Oppenheimer Limited-Term Bond Fund
will be reduced by 7, 18 and 6 bps basis points. These fee reductions "will position both funds competitively within the top quartile of their respective peer groups."
Company: BlackRock Funds
Fund Rename: BlackRock International Growth & Income Trust (BGY), BlackRock Global Opportunities Equity Trust (BOE)
BlackRock will rename
its BGY fund to BlackRock Enhanced International Dividend Trust,
and its BOE fund to BlackRock Enhanced Global Dividend Trust,
both effective June 12. Also on June 12, BlackRock will change its non-fundamental investment policies for the above funds, encompassed with a new PM team. In addition, BlackRock International Limited
was added as a sub-adviser to each fund, effective March 29.
Company: Altegris Mutual Funds
New fund: Altegris GSA Trend Strategy Fund, (TRNAX, TRNIX, TRNNX)
Altegris has launched
this fund, which will be sub-advised by GSA Capital Partners.
The fund's investment objective is "to seek long-term capital appreciation through utilization of an absolute return strategy."
Company: Royce International Funds
Fund Close: Royce International Small-Cap Fund
The Royce Fund's Board of Trustees has approved a liquidation
of this fund, scheduled for May 1. The fund is being liquidated "because it has not attracted and maintained assets at a sufficient level for it to be viable."
Company: FTJ Fund Choice
New Program: Separately Managed Accounts Program (SMA)
FTJ has launched
this SMA program on March 28. The program will "connect financial advisors that serve ultra-high and high-net-worth families and individuals directly to top-tier strategists," and require a minimum investment of $1,000,000.00. Meeder Investment Management
has signed on as the first SMA strategist in the program.
To learn more about recent fund launches, check our most recent New Fund Fuss here. For information about SEC filings or new hires, check out our latest Filings For Fundsters and Follow the Fundsters columns, respectively. For job opportunities in the industry, explore our The Next Gig column. If you have a fund filing that you would like to point out, a mutual fund launch, product change or new hire that you would like to announce, please contact the MFWire team at email@example.com.
Stay ahead of the news ... Sign up for our email alerts now