Stork and Reaper for August 7, 2012
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Tuesday, August 7, 2012

Stork and Reaper for August 7, 2012

Before the Stork flew off today, it delivered a few new funds.

Wells Fargo [profile] filed for its Emerging Markets Local Bond Fund, which will seek total return. The fund will be subadvised by First International Advisors and managed by Michael Lee, Tony Norris, Alex Perrin, Christopher Wightman, and Peter Wilson. [SEC FIling]

TacticalShares, part of the Advisor Series Trust, filed for its Dynamic Allocation Fund. The fund will be advised by Capital Advisors and managed by Keith Goddard, Channing Smith, Monty Butts, and John Hastings. [SEC Filing]

Northern Trust's [profile] FlexShares filed for its Morningstar Emerging Markets Factor Tilt Index Fund. Northern Trust Investments will serve as investment advisor to the fund. The fund's PMs will be Chad Rakvin, Shaun Murphy, and Jordan Dekhayser. The funds will be distributed by Foreside Fund Services. [SEC Filing]

RiverNorth Capital Management [profile] announced in a release that it would launch the RiverNorth/Manning & Napier Dividend Income Fund. The fund will be subadvised by Manning & Napier Advisors [profile].

"We are very excited to be working with a firm with a 40-year history and a similar culture to ours," said Brian Schmucker, CEO of RiverNorth.

The Reaper also decided to visit, and take a fund with it.

Asset Management Fund [profile] plans to close its Money Market Fund. On August 15, 2012, the fund will be liquidated. As of August, 6, 2012, the fund has $11.4 million in AUM, according to their profile on Morningstar. [SEC Filing]

In the meanwhile, other funds are being reorganized. Natixis Funds [profile] renamed the Loomis Sayles Absolute Strategies Fund the Loomis Sayles Strategic Alpha Fund. [SEC Filing]

Finally, Goldman Sachs [profile] appointed a couple of new PMs to various funds. Alexis Deladerrière will co-PM the Concentrated International Equity Fund and Strategic International Equity Fund. And Guarav Rege will co-PM the International Small Cap Fund [SEC Filing]

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