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Monday, September 11, 2017

Filings For Fundsters - September 11, 2017

by: Neil Anderson, Managing Editor


On Friday BlackRock liquidated the iShares iBonds Sep 2017 Term Muni Bond ETF.

On November 10, Manning & Napier will liquidate the Emerging Markets Fund.

Turner shifted back the planned liquidation date of its three mutual funds to September 25.

On October 6, VanEck will liquidate the VanEck Vectors AMT-Free 6-8 Year Municipal Index ETF, the VanEck Vectors Solar Energy ETF, the VanEck Vectors Treasury-Hedged High Yield Bond ETF, and the VanEck Vectors AMT-Free 12-17 Year Municipal Index ETF.

On September 28 Global View Capital will liquidate its Tactical Asset Allocation Fund.


New Funds

This month Crawford Investment Counsel is launching the Crawford Multi-Asset Income Fund, PMed by John Crawford (director of equity investments) and Aaron Foresman (senior research analyst, director of multi-asset income strategy). The fund's vendors include: Huntington National Bank, custodian; Ultimus Fund Services, transfer agent, accountant, and administrator; Cohen & Company, independent accounting firm; and Unified Financial Securities, distributor.

Last month OBP Capital launched the Fieldstone Merlin Dynamic Large Cap Growth ETF, the Fieldstone UVA Unconstrained Medium-Term Fixed Income ETF, and the Fieldstone UVA Dividend Value ETF, all part of the Spinnaker ETF Trust. The large cap fund is subadvised by Merlin Capital (dba Merlin Asset Management) and PMed by Michael Obuchowksi. The fixed income and dividend value ETFs are both subadvised by Universal Value Advisors and PMed by Robert Barone and Joshua Barone. Vendors to the funds include: BNY Mellon, custodian, fund accounting agent, and transfer agent; the Nottingham Company, administrator; Capital Investment Group; Holland & Knight, counsel; and BBD, independent accounting firm.

This month CBOE Vest Financial launched the CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund, PMed by Jonathan Hale, Howard Rubin, and Karan Sood. Vendors to the fund include: Fifth Third Bank, custodian; First Dominion Capital Corp., distributor; Commonwealth Fund Services, transfer agent; the Law Offices of John H. Lively & Associates, legal counsel; and Cohen & Company, independent accounting firm.

Goldman Sachs is launching the Goldman Sachs Equal Weight U.S. Large Cap Equity ETF, PMed by Raj Garigipati and Jamie McGregor. Vendors to the fund include: ALPS Distributors, distributor; BNY Mellon, custodian, transfer agent, and administrator; and PricewaterhouseCoopers, independent accounting firm.

CBOE Vest is developing the CBOE Vest Digital Coins Strategy Fund, to be PMed by Hale and Sood. This fund will have the same vendors as CBOE Vest's just-launched target income fund (see above).

Orange Investment Advisers is developing the Orange Structured Credit Value Fund, PMed by Jay Menozzi and Boris Peresechensky. Vendors to the fund will include: Gemini Fund Services, administrator, accountant, and transfer agent; and Thompson Hine, legal counsel. A custodian and an independent accounting firm both have not yet been named.



Last month U.S. fixed income analyst Jeffrey Clarke joined the PM team for the Lazard US Corporate Income Portfolio.

This month Ramona Persaud became a co-PM of the Fidelity Advisor Multi-Asset Income Fund. PM James Morrow will retire on December 31, and Persaud will take over Morrow's portion of the fund.

This month Brian Chang became a co-PM of the Fidelity Strategic Dividend & Income Fund. Meanwhile, Joann Bewick is no longer lead PM of the fund. And Scott Offen will retire on December 31, when Persaud will take over his portion of the fund.

Effective this month, James Harmon is no longer a co-PM on the Fidelity Low-Priced Stock Fund.

On October 10, Kabir Goyal will no longer be an associate PM on the Wasatch International Growth Fund.



Today BlackRock took over for Sectoral Asset Management as a subadvisor to the Thrivent Partner Healthcare Portfolio.

Tomorrow Perella Weinberg Partners Capital Management will shift from subadvisor to a consulting role on the AC Alternatives Long Short Fund.



On October 1, Calamos will add a 100-bps short-term redemption fee to the Calamos High Income Opportunities Fund.

Today Goldman Sachs adjusted the management fees for its Large Cap Growth Insights, Large Cap Value Insights, Small Cap Equity Insights, Small Cap Growth Insights, Small Cap Value Insights, and U.S. Equity Insights funds. The funds all previously had fee breakouts at different AUM levels and shifted to singular management fees: to 52 bps for the large cap and U.S. equity funds, to 80 bps for the small cap equity and small cap value funds, and to 81 bps for the small cap growth fund. Goldman also adjusted the management fee schedule for its International Equity Insights Fund, dropping fees by 4 basis points at each breakpoint level of total fund AUM.



On November 17 Kaizen Advisory will rebrand its Kaizen Hedged Premium Spreads Fund as the Raise Core Tactical Fund. The fund's investment strategy will also change.

On June 19, the Academy Funds Trust rebranded as the Innovators ETFs Trust. On August 31 the Innovator IBD 50 Fund rebranded as the Innovator IBD 50 ETF, and its investment strategy also adjusted. Last month independent directors Mark Berg, Joe Stowell and Brian Wildman joined the trust's board, while independent directors Oliver St. Clair and Russell Wagner resigned from the board. On Friday the trust switched to Cohen & Company as its independent accounting firm, from Tait, Weller & Baker. And this coming Friday the trust will switch to Foreside Fund Services as its distributor, from Quasar Distributors.


Closing and Reopening

On Friday Goldman Sachs reopened its Fundamental Equity Value Fund to new investors, but only for three months.


Share Classes

Today Principal launched J shares of its Blue Chip Fund.



On Friday Innovators ETFs Trust asked the SEC for exemptive relief to be able to hire and fire subadvisors without shareholder meetings. The trust also asked for exemptive relief to launch ETFs.

On Thursday Vanguard amended its request for exemptive relief to create active ETFs.


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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