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Monday, August 13, 2012|
Stork and Reaper for August 13, 2012
The Reaper compensated for his more than spotty attendance by closing two funds today.
Marsico Capital Management [profile] filed for the liquidation of its Emerging Markets Fund. The filing notes the fund's small size and limited growth potential. As of August, 10, 2012, the fund has $4.8 million in AUM, according to data from Morningstar. The fund will be closed by September 21, 2012. [SEC Filing]
Harbor Funds [profile] filed for the liquidation of its Flexible Capital Fund. The fund will be closed on October 31, 2012. As of August 10, 2012, the fund has $21.6 million in AUM, according to its profile on Morningstar. [SEC Filing]
In the meanwhile, other funds are being reorganized.
Lord Abbett [profile] added Jeffrey Lapin as PM to its Floating Rate Fund. He will manage the fund with co-PM Christopher Towle. [SEC Filing]
Lord Abbett also added Thomas O'Halloran as PM to its Stock Appreciation Fund. [SEC Filing]
Franklin Templeton [profile], subadvisor to SunAmerica Asset Management's [profile] Small Company Value Portfolio added Steven Raineri to the fund's management team. Raineri has been with Franklin Templeton since 2005. [SEC Filing]
Franklin Templeton also added Peter Nori to manage the Foreign Value Portfolio. Nori has been with the company since 1996. [SEC Filing]
Kyle Pankratz, from Integrity Funds, resigned as co-PM of the Dividend Harvest Fund. The fund will continue to be managed by Shannon Radke, Josh Larson and Michael Morey. [SEC Filing]
American Funds has filed for Nicholas Grace from Capital World Investors to take over the New World HLS Fund from Robert Lovelace. [SEC Filing]
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