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Rating:Filings For Fundsters - August 31, 2017 Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 31, 2017

Filings For Fundsters - August 31, 2017

by: Neil Anderson, Managing Editor

New Funds


AlphaCore Capital is creating the AlphaCore Statistical Arbitrage Fund. Jonathan Belanger and Dick Pfister, respectively director of research and CEO of AlphaCore, will PM the fund. Cohen & Company will serve as the independent accounting firm and Thompson Hine will provide legal counsel. MUFG Union Bank will be the custodian, Northern Lights Distributors the distributor, and Gemini Fund Services the transfer agent.

Point Bridge Capital is creating the Point Bridge GOP Stock Tracker ETF. The ETF will track the Point Bridge GOP Stock Tracker Index, will be subadvised by Vident Investment Advisory, and will be PMed by Vident president Denise Krisko. No independent accounting firm has yet been named. Vendors already chosen include: U.S. Bancorp (administrator, custodian, and transfer agent), Foreside Fund Services (distributor), and Morgan, Lewis & Bockius (legal counsel).

T. Rowe Price is creating the T. Rowe Price Capital Appreciation & Income Fund. David Giroux, Steven Krichbaum, and Paul Massaro will PM the fund. Willkie Farr & Gallagher is legal counsel. T. Rowe itself is the transfer agent, and T. Rowe and BNY Mellon both handle fund accounting. State Street is the custodian, and Pricewaterhouse Coopers is the independent accounting firm.

Thrivent is creating the Thrivent Core International Equity Fund. Noah Monsen and Brian Bomgren will PM the fund. No independent accounting firm has yet been named for the fund. Vendors already chosen include: State Street (custodian) and Thrivent itself (transfer agent).

Glenmede Investment Management is creating two funds, its Quantitative U.S. Large Cap Value Equity Portfolio and its Quantitative U.S. Small Cap Equity Portfolio. Vladimir de Vassal, Paul Sullivan, and Alexander Atanasiu are PMing the funds. State Street will serve as administrator, custodian, and transfer agent to the funds. Drinker Biddle & Reath will provide legal counsel, and an independent accounting firm has not yet been named.

First Trust is creating the First Trust SMID Cap Rising Dividend Achievers ETF. BBH will serve as administrator, custodian, and transfer agent for the fund, and Chapman & Cutler will provide legal counsel. No independent accounting firm has yet been named.

TCW is creating the TCW Artificial Intelligence Equity Fund, PMed by Jeffrey Lin and Thomas Lee. U.S. Bancorp will serve as the fund's transfer agent.

***


PMs


This month Paul Benson and Stephanie Shu of Mellon Capital became PMs of the WisdomTree Brazilian Real Strategy Fund.

In July Asher Anolic became a co-PM of the Fidelity Growth Discovery Fund. Ancolic is scheduled to take over as the fund's interim lead PM on January 1, 2018 while current lead PM Jason Weiner takes a leave of absence. Weiner will return in Q2 2018.

Morley Campbell, analyst and managing director, became a PM on the AllianzGI NFJ International Value Fund.

Yu Wang, vice president, became a PM on the AllianzGI Small-Cap Blend Fund.

Today Franco Tapia and David Zhao were added as PMs the BlackRock Equity Dividend Fund, alongside Tony DeSpirito. Robert Shearer, who announced retirement plans back in February, left the fund today.

On February 28, 2018, John Williams will retire as PM of the American Beacon Balanced Fund.

On August 28, Ben Silver replaced Eli Rabinowich as a PM to the American Beacon Mid-Cap Value Fund.

On August 28, Tristan Abet, Thomas Joret, and Rui Tang became PMs of the MainStay VP Absolute Return Multi-Strategy Portfolio.

On August 28, Mike Valentine became a PM on the Wasatch Core Growth Fund. On the same day, Ken Korngeibel became a PM on the Wasatch Small Cap Growth Fund.

***


Indexes


On August 29 the Amplify YieldShares Senior Loan and Income ETF switched to tracking the Prime Senior Loan and Income CEF Index.

***


Opening and Closing


On September 29, the Nationwide Small Company Growth Fund will largely close to new investors.

On September 11, the Victory RS Small Cap Growth Fund will reopen to new investors.

On October 2, the Invesco High Yield Municipal Fund will close to new investors.

***


Rebranding


On September 11, SSgA will rebrand the SPDR Morgan Stanley Technology ETF as the SPDR NYSE Technology ETF. The fund will also switch from tracking the Morgan Stanley Technology Index to tracking the NYSE Technology Index, and it will also change tickers (from MTK to XNTK).

On October 31, BlackRock will rebrand the BlackRock Pacific Fund as the BlackRock Asian Dragon Fund. The fund's investment strategy will also be tweaked.

On October 26, BlackRock will rebrand the BlackRock Global SmallCap Fund as the BlackRock Advantage Global Fund. The fund's investment strategy will also be tweaked.

Today AMG rebranded the AMG FQ U.S. Equity Fund as the AMG FQ Long-Short Equity Fund. The fund's investment strategy was also tweaked.

On October 27, UBS will rebrand the UBS U.S. Large Cap Equity Fund as the UBS U.S. Sustainable Equity Fund. The fund's investment strategy will also be tweaked.

On October 27, Deutsche will transform the Deutsche X-trackers MSCI Italy Hedged Equity ETF into the Deutsche X-trackers Germany Equity ETF. On the same day, Deutsche will transform the Deutsche X-trackers MSCI Southern Europe Hedged Equity ETF into the Deutsche X-trackers Eurozone Equity ETF. The two ETFs' tickers will also change, to GRMY and EURZ.

***


Liquidating


On September 7, Osterweis Capital Management will liquidate the Osterweis Institutional Equity Fund. The fund closed to new purchases on August 25.

On October 2, Janus Henderson will liquidate its Health and Fitness ETF.

***


Vendors


J.P. Morgan recently became accounting services provider and custodian for a number of BlackRock funds.

***


40-APP


OppenheimerFunds filed for exemptive relief to create multi-manager funds.

Whitford Asset Management, ETF Series Solutions, and Quasar Distributors filed for exemptive relief to create ETFs.

***


Share Classes


Starting on August 28, class R6 and T shares are no longer being offered for the MainStay Absolute Return Multi-Strategy Fund and the MainStay Tax Advantaged Short Term Bond Fund.

***


Subadvisors


TimesSquare Capital Management no longer subadvises the JPMorgan Access Balanced Fund and the JPMorgan Access Growth Fund.

***


Fees


On August 29, the FormulaFolio US Equity Fund reduced redemption fees on its institutional and investor class shares to 100 basis points, down from 200 bps.

On August 28 AB reduced the management fee on the AB All Market Income Portfolio to 55 basis points (down from 70 bps). The fee dips to 45 bps for assets above $2.5 billion and 40 bps for assets above $5 billion.

On October 27, Deutsche will reduce the management fee on the Deutsche X-trackers Japan JPX-Nikkei 400 Equity ETF to 15 bps.

On August 28, Guggenheim reduced the management fee on the Guggenheim S&P 500 Equal Weight ETF to 20 bps, from 40.

***


Check our last Filings For Fundsters column (previously called Stork and Reaper) for more SEC filing updates. For the latest new hires and fund launches, explore our Follow The Fundsters and New Fund Fuss columns. If you have a fund filing, a mutual fund launch, a product change or a new hire that you would like to announce, please contact the MFWire team at editors@investmentwires.com. 

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