MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, September 7, 2012 Stork and Reaper for September 7, 2012 Polls show that if an election were held today, the Stork party would win in a landslide, with 13 votes compared with five for the Reapers party. The first Stork votes were re-openings of two small cap funds: Aston Asset Management [profile] reopening its ASTON/River Road Independent Value Fund and Brown Capital Management its Brown Capital Management Small Company Fund. There were three major voting blocks for the Storks. Eaton Vance Management [profile] opened four equity funds, sub-advised by Hexavest Inc.: Eaton Vance Hexavest Emerging Markets Equity Fund; Eaton Vance Hexavest Global Equity Fund; Eaton Vance Hexavest International Equity Fund, and Eaton Vance Hexavest U.S. Equity Fund. Meanwhile, Gen Cap Venture's FactorShares launched three exchange-traded funds (ETFs) focused on the mining-industry: PureFunds ISE Diamond/Gemstone ETF, PureFunds ISE Mining Service ETF and PureFunds ISE Junior Silver ETF. Finally, the last big block came from Thomas White Funds [profile] launched three new share classes each for the Thomas White International Fund and the Thomas White Emerging Markets Fund. The remaining votes came from the following Stork constituents: Huntington Asset Advisors [profile], which launched the Huntington Income Generation Fund; Global X Funds with its Global X Junior Miners ETF, and RiverNorth Capital Management [profile] and the RiverNorth/Oaktree High Income Fund, sub-advised by Oaktree Capital Management. The five Reaper votes came from the following closures. Firstly, Wilmington Funds merged both the Wilmington Pennsylvania Municipal Bond Fund and the Wilmington Virginia Municipal Bond Fund into the Wilmington Municipal Bond Fund. Northern Lights Fund Trust closed the Triex Tactical Long/Short Fund. Wells Fargo [profile] closed its Wells Fargo Advantage Asia Pacific Fund. Also, the Value Line U.S. Government Money Market Fund, Inc., formerly managed by EULAV Asset Management was folded into the U.S. Government Portfolio of the Daily Income Fund, managed by Reich & Tang Asset Management. Five contested votes, which have been claimed by both parties and are being examined by the Electoral College, involve portfolio manager changes at five Select Portfolio Funds run by Fidelity [profile]. Printed from: MFWire.com/story.asp?s=41196 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |