Stork and Reaper for September 28, 2012
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Friday, September 28, 2012

Stork and Reaper for September 28, 2012

If the mutual fund industry were a residential community, it would be subject to urban blight, with Storks developing only 15 new units, while the Reapers razed 40.

TIAA-CREF has unveiled the Social Choice Bond Fund.

MFS has launched the MFS Equity Income Fund.

Northern Trust has birthed two new FlexShares funds: the FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund and the FlexShares Morningstar Emerging Markets Factor Tilt Index Fund.

BlackRock has opened the BlackRock Real Estate fund, according to Morningstar.

Altegris has launched the Altegris Fixed Income Long Short Fund.

Northern Trust also unveiled the Northern Multi-Manager Global Listed Infrastructure Fund.

State Street Global Advisors has
launched two funds: the SPDR SSgA US Minimum Volatility ETF and the SPDR SSgA Global Minimum Volatility ETF.

Starboard Investment Trust has launched the Nuveen Symphony High Yield Bond Fund.

Nationwide Mutual Funds has debuted the Nationwide Emerging Markets Equity Fund.

The Vanguard Group has filed to launch the Vanguard All-World Ex-US Shares Index ETF.

There are firms that took down some houses while building new ones.

Fidelity Investments [profile] is doing its part to contribute to both sides. Morningstar reports that it will open five new funds and close three.

New York Life Investment Management bought the Keystone Large Cap Growth Fund when it bought a minority stake in the fund's previous sponsor, Cornerstone Asset Management.

Meanwhile, the Reapers were on a tear.

Advisors Series Trust is killing off all seven ActivePassive Funds.

Janus Investment is merging the Janus Global Research Fund into the Janus Worldwide Fund.

Laudus Funds is liquidating the Laudus Mondrian Global Equity Inv fund.

BlackRock has rebranded eight target-date funds, from the BlackRock Prepared Portfolio to the series.

The Ambassador Funds will close down the five-fund Selkirk brand.

Federated Investors Inc. and Trustmark Corporation have reorganized eight Performance Funds Trust funds into seven Federated.

The MainStay Group of Funds is merging the MainStay Growth Equity Fund into the MainStay Cornerstone Growth Fund. It is also reorganizing the MainStay VP Growth Equity Portfolio.

Global X Funds plans to close four ETFs, including one for automobiles and one for aluminum, as well as NASDAQ 500 and NASDAQ 400 Mid-Cap investments.

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