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Friday, September 08, 2017|
New Fund Fuss - September 8, 2017
Company: American Portfolios Financial Services
New Portfolios: Nine Points Investment Management Impact Portfolios
Yesterday the Holbrook, New York-based, independent broker-dealer unveiled a new suite of nine SRI portfolios, built out of both ETFs and traditional mutual funds.
Company: Institutional Shareholder Services Inc. (ISS)
Acquirer: Genstar Capital
Yesterday Genstar unveiled a $720-million deal to buy proxy advisory firm ISS from Vestar Capital Partners, with ISS management getting in on the deal alongside Genstar. The deal is expected to close by early Q4.
Company: Essex Investment Management Company
New Fund: the Essex Environmental Opportunities Fund
On Wednesday the Boston-based institutional asset manager specializing in growth equity investing unveiled its new mutual fund. Bill Page and Rob Uek co-PM the new fund, which is distributed by Ultimus Fund Solutions.
Company: Catalyst Funds
Adopted Fund: the Exceed Defined Shield Index Fund
On Wednesday the Huntington, New York-based alternative mutual fund shop confirmed the closing of its planned acquisition of the fund, which was rebranded as the Catalyst/Exceed Defined Shield Fund. Joe Halper, founder and CEO of Exceed Investments, will still PM the fund.
Company: Gamco Investors
Rebranded Fund: the Gamco Global Telecommunications Fund
On Wednesday Gamco's Gabelli Funds rebranded the Gamco Global Telecommunications Fund as the Gabelli Global Content & Connectivity Fund. Gabelli also expanded the fund's investment focus and added Brett Harriss to its PM team.
New Fund: the AlphaCentric Global Innovations Fund
On Wednesday the Huntington, New York-based mutual fund shop (a sister company to Catalyst) unveiled what they're pitching as "the only actively managed mutual fund dedicated to automation and robotics." The fund is PMed by Briah Gahsman and subadvised by Pacific View Asset Management.
Company: Sage Advisory Services
New Strategy: C.L.I.M.B.
On Wednesday the Austin-based ETF strategist unveiled its new Customized Laddered Strategy (C.L.I.M.B.).
New Funds: the Pimco RAFI Dynamic Multi-Factor U.S. Equity ETF, the Pimco RAFI Dynamic Multi-Factor International Equity ETF, and the Pimco RAFI Dynamic Multi-Factor Emerging Markets Equity ETF
On Wednesday the Newport Beach, California-based fixed income giant unveiled three new smart beta equity ETFs, all tracking indexes from longtime Pimco ally Research Affiliates.
Companies: VanEck and Merk
Affected Fund: the VanEck Merk Gold Trust
On Wednesday VanEck and Merk unveiled a fee reduction for when investors take delivery of their gold from the ETF.
Company: Natixis Global Asset Management
Milestone: New HQ
On Tuesday David Giunta, CEO of Natixis for the U.S. and Canada, welcomed his team to Natixis' new U.S. headquarters. Yet they didn't move very far; their old HQ was at 399 Boylston Street in Boston, and their new HQ is at 888 Boylston (touted as "Boston's most sustainable office building"). About 450 of Natixis' 1,500 Boston-area staff will be in the new location, which includes 6 floors of the 17-floor building.
Company: Franklin Templeton Investments
New Funds: the Franklin LibertyShares Intermediate Municipal Opportunities ETF and the Franklin Liberty Municipal Bond ETF
On Tuesday the San Mateo, California-based fund unveiled two new active muni bond ETFs. The intermediate fund is PMed by James Conn, Christopher Sperry, and Daniel Workman, and the other fund is PMed by Conn, Sperry, and Nicholas Bucklin.
Company: Chartwell Investment Partners
Rebranding Fund: the Berwyn Cornerstone Fund
On Tuesday Chartwell rebranded the fund as the Chartwell Mid Cap Value Fund.
Company: Fred Alger Management
Rebranded Fund: the Alger Smid Cap Growth Fund
On August 30 Alger rebranded the fund as the Alger Smid Cap Focus Fund. Weatherbie Capital, which Alger acquired earlier this year, now subadvises the fund.
To learn more about recent fund launches, check our most recent New Fund Fuss here. For information about SEC filings or new hires, check out our latest Filings For Fundsters and Follow the Fundsters columns, respectively. If you have a fund filing that you would like to point out, a mutual fund launch, product change or new hire that you would like to announce, please contact the MFWire team at firstname.lastname@example.org.
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