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Thursday, October 05, 2017|
New Fund Fuss - October 5, 2017
Launching: the VanEck Vectors NDR CMG Long/Flat Allocation ETF (LFEQ)
Today New York City-based VanEck unveiled LFEQ, which tracks the Ned Davis Research CMG US Large Cap Long/Flat Index. Ned Davis also powers a year-old VanEck mutual fund, the VanEck NDR Managed Allocation Fund.
Launching: the Eventide Global Dividend Opportunities Fund (ETADX, ETCDX, ETNDX, ETIDX)
Yesterday Boston-based Eventide unveiled its fourth mutual fund, PMed by Eventide's own Martin Wildy. The fund comes in A, C, I, and N shares.
Company: RBC Global Asset Management (U.S.)
Launching: the RBC Emerging Markets Value Equity Fund and the RBC Impact Bond Fund.
On Tuesday the Canadian multinational's asset management arm revealed plans to launch a pair of mutual funds in the U.S. RBC GAM-US also unveiled expense ratio cuts to eight of its existing mutual funds. And on November 1, RBC GAM-US will rebrand two existing mutual funds, transforming the RBC BlueBay Emerging Market Select Bond Fund into the RBC BlueBay Emerging Market Debt Fund and the RBC BlueBay Global High Yield Bond Fund into the RBC BlueBay High Yield Bond Fund.
Company: American Century
Reorganizing: the Nomura High Yield Fund
On Monday Kansas City, Missouri-based American Century reorganized the Nomura High Yield Fund into the American Century High Income Fund while keeping Nomura Corporate Research and Asset Management (NCRAM) on as subadvisor to the five-year-old fund. NCRAM already subadvises another American Century fund, American Century NT High Income, and last year NCRAM's parent bought a 41-percent stake in American Century.
Tweaking: Direxion Daily Small Cap Bull 1.25x Shares (LLSC)
On Monday New York City-based Direxion revealed plans to switch LLSC from tracking the Russell 2000 Index to tracking the S&P Small Cap 600 Index. The change is scheduled for December 1.
Company: Reinhart Partners
Launching: its own family of NextShares funds
On Monday Mequon, Wisconsin-based Reinhart Partners confirmed a preliminary agreement with Eaton Vance's NextShares for the creation of a Reinhart family of funds using the NextShares structure.
Launching: the NuShares ESG U.S. Aggregate Bond ETF (NUBD)
On Monday Chicago-based Nuveen, TIAA's asset management arm, confirmed the launch of NUBD.
Company: Deutsche Asset Management
Rebranding: the X-trackers family of ETFs
On Friday Deutsche AM revealed a branding tweak for its $12.5-billion family of ETFs in the U.S. They will switch from being X-trackers to being Xtrackers, following similar branding changes in Deutsche AM's ETFs in Asia and Europe.
Company: Congress Asset Management
Acquired: Century Capital Management's investment management business
Last month Boston-based Congress completed its planned purchase of Century's investment management business. Century managing partner Lanny Thorndike and partners Jeffrey Kerrigan and Eric Meyers joined Congress as part of the deal.
To learn more about recent fund launches, check our most recent New Fund Fuss here. For information about SEC filings, new hires or AUM figures, check out our latest Filings For Fundsters, Follow the Fundsters, and AUM Update 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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