Mutual Fund Manager Changes
For the Twelve Months Ending September, 2010
[For manager changes more than twelve months old, see the Archive of Manager Changes]

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Manager changes
posted for this month (September, 2010)		 Manager changes posted
for previous eleven months
(October, 2009 through August, 2010)
Index of all changes posted on FundAlarm*

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* This index includes all changes posted on this page, plus all changes posted in the manager change archive. To loacate a change posted on this page, you can also use the "find on page" function that comes with your browser. You can search for funds by name, or you can search for changes posted in a particular month, using the format M/YY. For example, to find manager changes posted in August 2010, search for 8/10.

About this page
 This page (and the accompanying archive) primarily cover manager changes at stock and balanced mutual funds since the inception of FundAlarm (July, 1996). Selected manager changes at bond funds are also reported. This page is updated once a month, on the first day of the month (the same update schedule as the rest of the FundAlarm site).

We are committed to keeping the information on this page as complete and accurate as possible. If you wish to suggest a correction or addition, please e-mail. We will respond promptly.
Section One:
Index of all manager changes posted on FundAlarm

If your fund is listed in the scroll box below, it has been affected by a manager change that is posted on this page or on the archive page. Exit the index and scroll down the page to locate the information on your fund, or return to the menu at the top. [Top]
Note: Unless otherwise indicated, all classes of the
respective fund are affected by the indicated manager change

Section Two:
Manager changes posted for this month (September 2010)

 Alpine Accelerating Dividend: Co-manager David Burg is gone, replaced by Bryan Keane and Andrew Kohl. Samuel Lieber and Stephen Lieber continue to be listed as the lead managers. [9/10]

Calvert Mid Cap Value: Channing Capital Management LLC is out as subadvisor (i.e., day-to-day manager), replaced by New Amsterdam Partners LLC (Michelle Clayman and Nathaniel Paull handle the management duties for New Amsterdam). On October 29, 2010, this fund is scheduled to merge into Calvert Capital Accumulation, which already is managed by Clayman and Paull. [9/10]

Calvert New Vision Small Cap: Bridgeway Capital Management is out as subadvisor and Natalie Trunow, of Calvert's own Calvert Asset Management Company, takes over as day-to-day manager. On October 29, 2010, this fund is scheduled to merge into Calvert Small Cap Value, which then will be renamed Calvert Small Cap. [9/10]

Calvert Small Cap Value: Channing Capital Management LLC is removed as subadvisor and Natalie Trunow, of Calvert Asset Management Company, takes over as day-to-day manager. On October 29, 2010, this fund is scheduled to receive the assets of Calvert New Vision Small Cap (above), at which time it will become a small cap core fund (and be renamed Calvert Small Cap). [9/10]

ING Intermediate Bond: The management team of Christopher Diaz, Peter Guan and Mike Hyman is gone, replaced by the team of Michael Mata and Matthew Toms. [9/10]

Perritt Emerging Opportunities: It's generational transition time at the Perritt funds. Co-manager Michael Corbett is buying out Perritt's majority interest in the firm that runs this fund; as of October 5, 2010, Perritt will no longer be a named manager, or a member of this fund's board of directors. [9/10]

Perritt MicroCap Opportunities: See Perritt Emerging Opportunities, above. [9/10]

Principal International Growth: Co-manager Steven Larson leaves co-manager John Pihlblad behind. (Larson has joined Arbor Capital Management, LLC, an institutional small- and mid-cap growth manager, where he has started an international strategy.) Pihlblad is joined by Mark Nebelung). [change effective 4/10, posted 9/10]

Principal International Value: AXA Rosenburg Investment Management is fired as one of this fund's two outside subadvisors (Principal also manages a portion of the portfolio itself). AXA is replaced by Barrow, Hanley, Mewhinney & Strauss, which will be represented by David Hodges and Randolph Wrighton, Jr. [9/10]

Royce Asia-Pacific Select: Lead manager Jiyoung Kim is gone from this fund. James Harvey, Kim's assistant manager, is now in charge by himself. [9/10]

SunAmerica Focused Technology: Andrew Sheridan is out as manager, and Dominic Vignola takes over. [9/10]

Vanguard Explorer: The AXE consintues to fall, as AXA Rosenburg Investment Management is fired as one of this fund's subadvisors. AXA assets have been reallocated "among some of the Fund's other [six] advisors." [9/10]

Vanguard Market Neutral: AXA Rosenburg Investment Management is fired as this fund's outside subadvisor, and Vanguard now manages all of the fund's assets by itself. [9/10]

Vanguard U.S. Value: See Vanguard Market Neutral above. [9/10]


Section Three:
Manager changes posted for the preceding eleven months (October 2009 through August 2010)

 ~A-E~

Aberdeen Equity Long-Short: Michael Manzo replaces Christopher Baggini on this five-person team. Baggini has joined the management team of Turner Spectrum. [7/10]

Aberdeen Tax-Free Income: Frank Biondo bails out as comanager, leaving former colleague Lori Cohane to run this fund solo. [5/10]

Acadian Emerging Markets: Another month, another change. Last month, a five-person management team was left with four. This month, the four-person management team is down to three, as Charles Wang takes his leave.[8/10]

Acadian Emerging Markets: Matthew Cohen is gone from this five-person management team, which is now down to four. [7/10]

Access Capital Community Investment: David Sand leaves this four-person management team, and leaves the firm. No replacement for Sand has been announced, so John Huber, Brian Svendahl and Todd Brux will carry on without him. [4/10]

AllianceBernstein Balanced Shares: Co-manager Aryeh Glatter separates from co-manager Frank Caruso, but Caruso is not alone for long. This fund is now managed by Caruso, Alison Martier, Shawn Keegan, and Joran Laird. [2/10]

AllianceBernstein Global Thematic Growth: Robert Scheetz and Andrew Reiss are gone from this seven-person team, and no replacements have been announced, so the remaining five managers must strain a little harder to come up with their global themes. [2/10]

AllianceBernstein International Growth: Robert Scheetz steps down from this three-person management team and, at least for now, he won't be replaced. [2/10]

AllianceBernstein Large Cap Growth: The Reilly boys -- Michael and James -- are now ex-comanagers. Joseph Elegante, Jason Ley and David Randell replace the Reilly duo, and they join continuing manager P. Scott Wallace to make a foursome. [8/10]

AllianceBernstein Value: According to Pensions & Investments, John Mahedy leaves as lead manager of this five person management team, and leaves the firm. Also apparently leaving the team is Marilyn Fedak. We say "apparently leaving" in the case of Fedak because AllianceBernstein hasn't yet gotten around to filing this change with the SEC. However, Mahedy and Fedak co-managed a portion of Vanguard Windsor, and both of them definitely have left that fund (see below). If Fedak isn't available to manage Windsor, we're assuming (with virtual certainty) that she also isn't available to manage this fund. Got that? You know, life would be so much easier if fund companies just filed those **** papers on time with the SEC. [10/09; update 11/09: Jospeh Paul replaces John Mahedy]

Allianz OCC Growth: Robert Urquhart leaves as co-manager (he had been in place only since last fall). Continuing co-manager Jeffrey Parker is joined by Bill Sandow. [2/10]

Allianz RCM China Equity: Richard Wu is gone from this two-person management team, leaving Christina Chung to run things solo. [8/10]

American Century Income & Growth: What was a three-person management team (John Schniedwind, Kurt Borgwardt, Zili Zhang) is now missing John Schniedwind. [5/10]

American Century International Core Equity: John Schniedwind leaves this two-person management team, which is now down to one for the time being: Zili Zhang. [5/10]

American Century Utilities: John Schniedwind leaves this two-person management team, and Joseph Sterling now runs this fund solo, at least for a while. [5/10]

American Century Vista: Glenn Fogle takes a leave of absence as lead manager. Bradley Eixmann, who assisted Fogle, is now listed as sole manager. [10/09]

Aquila Rocky Mountain Equity: Aquila essentially fires itself as manager (along with day-to-day skipper Barbara Walchli), and Three Peaks Capital Management is hired as subadvisor. Sandy Rufenacht and Brent Olson will handle the investment chores for Three Peaks (you may recognize Rufenacht from his days at Janus, where Olson assisted him). Along with the manager change, this fund will drop its focus on stocks of Rocky Mountain companies, and become an all-cap, all-style fund with a potentially significant foreign and fixed income component. This seems like a pretty weighty mandate for Rufenacht's small and relatively inexperienced firm, which was solely oriented toward fixed-income before it "began introducing its equity strategies to a limited number of its clients in early 2008." A curious manager selection indeed but, then again, we're not one of those wise and experienced directors who decided that Rufenacht's firm was apparently the best one in the world for the job. [7/10]

Artio Global Equity: Comanager Keith Walter steps down, and Dimitre Genov takes his place, joining continuing comanager Rudolph-Riad Younes. [8/10]

Artisan Small Cap: Marina Carlson retires as manager. Carlson hands the reins over to comanager Craigh Cepukenas, who is joined by Andrew Stephens and James Hamel (the latter two in charge of, and remaining in charge of, Artisan Mid Cap and Artisan Oportunistic Growth). [11/09]

AssetMark Core Plus Fixed Income: This fund is subadvised by two "Western" teams: one from Western Asset Management Company and the other from Western Asset Management Company Limited. Detlev Schlichter leaves Western team #1, but there's plenty more where he came from: Six of his colleagues will carry on. [11/09]

AssetMark Small/Mid Cap Growth: Two subadvisory firms manage this fund -- Nicholas-Applegate Capital Management and Copper Rock Capital Partners -- and the four-person Nicholas-Applegate team loses one of its members, Carma Wallace. We don't know if this Carma was good or bad. [1/10]

Barrett Opportunity: Amy LaGuardia is out as comanager, and new comanager E. Wells Beck replaces her. Beck joins continuing comanager Robert Milnamow. [4/10]

BlackRock funds (several): Scott Amero will retire as one of the firm's top fixed-income executives at the end of 2010, and he will shed his portfolio management duties even sooner (the end of March). Mr. Amero is a well-networked guy within BlackRock, so his retirement will remove him from each of the following fund management teams (all funds are "BlackRock"):

  • Balanced Capital
  • Enhanced Income
  • High Yield Bond
  • Intermediate Government Bond
  • Intermediate Bond II
  • Intermediate Bond
  • Low Duration Bond
  • Managed Income
  • Total Return
  • Total Return II [2/10]


BlackRock Aurora: See BlackRock Small Cap Core Equity, below. [1/10]

BlackRock Mid-Cap Value Equity: Wayne Archambo leaves as co-manager, and Kate O'Connor replaces him. Anthony Forcione is the continuing co-manager. [1/10]

BlackRock Small Cap Core Equity: Wayne Archambo steps down as co-manager; Archambo's replacement is Anthony Forcione. Kate O'Connor is the continuing co-manager. [1/10]

Calvert World Values International Equity: Acadian Asset Management is out as subadvisor. Three firms are taking over for Acadian: Calvert Asset Management Company, Thornburg Investment Management, and Martin Currie, Inc. [1/10]

Chase Growth: David Scott is retiring as comanager. Firm founder Derwood Chase takes over for Scott, joining continuing comanager Brian Lazorishak. [11/09]

Chase Mid Cap Growth: See Chase Growth, above. [11/09]

CNI Charter California Tax-Exempt Bond: Alan Remedios leaves as co-manager, perhaps because he got tired of dealing with all those plummeting bond ratings ("Oops, there goes another one!"). Gregory Kaplan replaces Remedios, joining continuing manager Rodney Olea. [12/09]

Columbia Convertible Securities: Two of this fund's three managers step down. Continuing comanager Yan Jin is joined by new lead manager David King. [5/10]

Columbia International Bond: Laura Ostrander is out as manager, and Nicholas Pifer is the new boss. [8/10]

Columbia Large Cap Index: Cheryl D'Hollander is out as manager, leaving her former comanager, Alfred Alley, to run this fund solo. [8/10]

Columbia Mid Cap Index: See Columbia Large Cap Index, above. [8/10]

Columbia Small Cap Index: See Columbia Large Cap Index, above. [8/10]

Columbia Strategic Income: Laura Ostrander and Kevin Cronk are out as managers. The team of Colin Lundgren, Brian Lavin and Gene Tannuzzo is now in charge. [8/10]

Davis Global: Jae Chung leaves a five-person management team, which becomes a six-person team after Chung's departure (the new managers -- Davis calls them "research analysts," who work under "research adviser" Chris Davis -- are Andrew Davis and Chandler Spears). [12/09]

Davis International: See Davis Global, above. [12/09]

Delaware American Services: A six-person "Emerging Growth Equity" management team, led by Marshall Bassett, is replaced by a seven-person [take that!] "Focus Growth Equity" team led by Jeffrey Van Harte. As suggested by the management change, the fund's investment approach also changes, to focused growth across all capitalization ranges, and the fund's name changes to Delaware Growth Equity. Other than that, there is nothing to report. [2/10]

Delaware Global Real Estate Securities: Delaware basically fires itself as manager, and hires Macquarie Capital Investment Management as subadvisor. Delaware's day-to-day managers Babak Zenouzi and Damon Andres are replaced by Macquarie managers David Kivell and Charles Song. The fund also is renamed Delaware Macquarie Global Real Estate. [5/10]

Delaware Growth Opportunities: A six-person "Emerging Growth Equity" management team, led by Marshall Bassett, is replaced by the two-person team of Christopher Bonavico and Kenneth Broad. The fund's name change, to Delaware Smid Cap Growth, [is there any investment term that sounds uglier than "smid?"] also tells you about the change in the fund's investment approach. [2/10]

Delaware Optimum Fixed Income: TCW Investment Management Company is fired as subadvisor, and good old standby PIMCO is now in charge. [4/10]

Delaware Trend: A six-person "Emerging Growth Equity" management team, led by Marshall Bassett, is replaced by the two-person team of Christopher Bonavico and Kenneth Broad. The fund's investment approach also changes, to focused smid cap growth. [2/10]

Dover Long/Short Sector: Dover Asset Management is out, and Tocqueville Asset Management takes over. Thomas Vandeventer and Pter Shawn, both of Tocqueville, have the day-to-day management responsibility. And, with Dover gone -- you guessed it -- the Dover name is also gone: This fund is now officially The Market Neutral Fund. [11/09]

Dreyfus Alpha Growth: Prabhu Palani is no longer part of this fund's three-person management team, leaving Warren Chiang and C. Wesley Boggs in charge. [5/10]

Dreyfus Bond Market Index: Laurie Carroll is out as manager, and Nancy Rogers takes over. [3/10]

Dreyfus Emerging Leaders: A management team (Oliver Buckley, Langton Garvin, Kristin Crawford) is replaced by an individual (David Daglio). [3/10]

Dreyfus High Yield Muni: Michael Faloon is gone as co-manager, leaving James Welch to run the show by himself. [6/10]

Dreyfus muni-bond funds (several):

Dreyfus fund Old management New management
AMT-Free Municipal BondDouglas GaylorJames Welch
Intermediate Municipal BondDouglas Gaylor / Steven HarveySteven Harvey
Short-Intermediate Municipal BondDouglas GaylorJames Welch
[12/09]

Dreyfus California AMT-Free Municipal Bond: Joseph Darcy is gone as manager, replaced by the team of Jeffrey Burger and James Welch. [1/10]

Dreyfus International Bond: Thomas Fahey steps down as comanager, and the remaining comanager (David Leduc, on board since February 2010) now runs this fund solo. [5/10]

Dreyfus New York Tax Exempt Bond: Joseph Darcy and Steven Harvey are out as managers. The team of Thomas Casey and David Belton is now in charge. [1/10]

Dreyfus S&P Stars: Fred Kuehndorf is gone as manager, and it takes three financial wizards to replace him: Elizabeth Slover, David Sealy and Barry Mills. [4/10]

Dreyfus S&P Stars Opportunities: Just last month, we reported that Prabhu Palani was part of this fund's new, three-person management team. This month, we report that Prabhu Palani is gone, leaving Warren Chiang and C. Wesley Boggs to wonder if maybe Palani was just a dream. [5/10]

Dreyfus S&P Stars Opportunities: Manager Fred Kuehndorf is replaced by a three-person team: Warren Chiang, Prabhu Palani, and C. Wesley Boggs. [4/10]

Dreyfus Short-Intermediate Government: Laurie Carroll steps down as manager, and Theodore Bair, Jr. replaces her. [3/10]

Dreyfus Small Cap Value: The management team of Ronald Gala and Adam Logan is gone, and David Daglio is now in charge. The fund's name also has been changed, to Dreyfus Small Cap. [3/10]

Dunham Emerging Markets: Van Eck Associates is out as subadvisor, and Marvin & Palmer Associates takes over (David Schaen of Marvin & Palmer handles the day-to-day responsibilities). [12/09]

DWS California Tax-Free Income: Co-lead manager Eleanor Lynch leaves this three-person management team, effective June 1, 2010. Michael Generazo replaces Lynch, and Philip Condon is now the sole lead manager. [5/10]

DWS Capital Growth: Richard Shepley leaves this three-person management team, and Thomas Hynes replaces him. [1/10]

DWS Communications: Ralf Oberbannscheidt and Ryan Hutchinson are out as managers, replaced by the team of Walter Holick and Frederic Fayolle. [4/10]

DWS fixed-income funds (several) : Matthew MacDonald is removed from the management team, and Ohn Choe replaces him at the following DWS funds:

GNMA
Inflation Protected Plus
Short Duration
Short Duration Plus
Strategic Government Securities
Strategic Income [4/10]

DWS Dreman Mid Cap Value: F. James Hutchinson leaves this three-person management team, and E. Clifton Hoover steps in for him. [1/10]

DWS International Value Opportunities: Deutsche Asset Management International is fired as manager, and David Dreman's firm (Dreman Asset Management) is slated to take over June 18, 2010, pending shareholder approval. Coinciding with the switch to Dreman, the fund will change its name to DWS Dreman International Value. [5/10]

DWS Managed Municipal Bond: Co-lead manager Eleanor Lynch leaves this four-person management team, effective June 1, 2010. Michael Generazo replaces Lynch. [5/10]

DWS target funds (several) : Matthew MacDonald is removed from the management team, without an immediate replacement, at the following DWS Target funds: 2010, 2011, 2012, 2013, 2014. [4/10]

Eaton Vance Balanced: This fund invests its assets in two other Eaton Vance funds -- Large-Cap Core Research and Investment Grade Income. There has been a manager change at the latter fund, so that also means a manager change here. Duke Laflamme is out as manager of Investment Grade Income, and the team of Thomas Luster and Bernard Scozzafava takes over. [3/10]

Eaton Vance Emerging Markets: Manager Kathryn Langridge, of subadvisor Lloyd George Investment Management, is no more. Robert Lloyd George and Irina Chistyakova are the new comanagers. [8/10]

Eaton Vance Investment Grade Income: Duke Laflamme is out as manager. He's replaced by the team of Thomas Luster and Bernard Scozzafava.[3/10]

Eaton Vance Large-Cap Growth: Co-manager Duncan Richardson steps down. Remaining co-manager Lewis Piantedosi appears to get promoted to lead manager, and he also gets a new assistant (Yana Barton). [1/10]

Eaton Vance New Jersey Municipals Income: Robert MacIntosh is out as manager, and Adam Weigold takes over. [4/10]

Elfun Diversified: See GE Total Return, below. [10/09]

Elfun International Equity: See GE International Equity, below. [12/09]

Evergreen Core Bond: Tattersall Advisory Group is fired as subadvisor, and Wells Capital Management takes over. (Technically, Wells is now "interim" subadvisor, until it is approved by shareholders in April 2010.) Running the show for Wells are Troy Ludgood, Thomas O'Connor, Lynne Royer and William Stevens. [12/09; this is an update of a 5/09 posting]

Evergreen Core Bond Plus: Tattersall Advisory Group and First International Advisors are fired as subadvisors, and Wells Capital Management takes over (subject to shareholder approval in April 2010). In charge of the fund for Wells are Michael Bray, James Newton II, Thomas Price and Janet Rilling. [12/09; this is an update of a 5/09 posting]

Evergreen Large Company Growth: Aziz Hamzaogullari leaves as manager, and leaves the firm (for Loomis Sayles Growth: see below). Taking over here is the team of Bruce Olson, Thomas Ognar and Joseph Eberhardy. [6/10]

Evergreen Mid Cap Growth: Kenneth Doerr leaves this four-person management team, which is now down to three: Robert Junkin, Lori Evans and Julian Johnson. [12/09]

Evergreen Omega: Aziz Hamzaogullari leaves as manager, and leaves the firm (for Loomis Sayles Growth: see below). A new management team (Thomas Pence and Michael Smith) is now in charge. [6/10]

Evergreen Short Intermediate Bond: See Evergreen Core Bond, above. [12/09; this is an update of a 5/09 posting]

Evergreen Small-Mid Growth: See Evergreen Mid Cap Growth, above. [12/09]

~F-J~
Federated Real Return Bond: Thomas Mitchell is out as comanager and his replacement, Bryan Dingle, joins continuing comanager Donald Ellenberger. [12/09]

Fidelity Adviser Dynamic Capital Appreciation: Manager J. Fergus Shiel is replaced by the team of Christopher Sharpe and Geoffrey Stein. [4/10]

Fidelity Advisor Emerging Asia: Kevin Chang leaves the manager's chair, and Colin Chickles assumes it. [2/10]

Fidelity Advisor Global Capital Appreciation: Comanager Victor Thay died on February 2, 2010. Thomas Allen is the new solo manager, succeeding both Thay and the other comanager, Sammy Simnegar. [3/10]

Fidelity Advisor High Income Advantage: Thomas Soviero steps down as co-manager, effective August 31, 2010, and Harley Lank will run the fund solo. [7/10]

Fidelity Advisor Municipal Income: Christine Thompson is out as co-manager, leaving the other co-manager, Jamie Pagliocco, in charge. Pagliocco is joined by Mark Sommer and Kevin Ramundo. [7/10]

Fidelity Advisor Value: See Fidelity Value, below. [6/10]

Fidelity Advisor Value Strategies: Manager Matthew Friedman is on his way to Fidelity Value (below), so the new manager here is Thomas Soviero. [6/10]

Fidelity Arizona Municipal Income: Christine Thompson is out as manager, and Kevin Ramundo replaces her. [7/10]

Fidelity China Region: Wilson Wong is out as manager, and Joseph Tse takes his place. [2/10]

Fidelity Export and Multinational: Manager Victor Thay died on February 2, 2010. Heather Carillo, formerly in charge of Fidelity Select Computers (see below), replaces Thay. [3/10]

Fidelity International Real Estate: Steven Buller is out as manager, and Guillermo de las Casas takes over. [4/10]

Fidelity Large Cap Growth: Edward Best leaves as manager, and Jeffrey Feingold takes over. [12/09]

Fidelity Massachusetts Municipal Income: See Fidelity Arizona Municipal Income, above. [7/10]

Fidelity Minnesota Municipal Income: See Fidelity Arizona Municipal Income, above. [7/10]

Fidelity Municipal Income: See Fidelity Advisor Municipal Income, above. [7/10]

Fidelity Select Chemicals: Manager Matthew Schuldt is on his way to Fidelity Select Computers (see below), which clears the way for a new manager here, Mahmoud Sharaf, effective April 1, 2010. [3/10]

Fidelity Select Computers: Manager Heather Carillo is moving on to Fidelity Export and Multinational, and Matthew Schuldt (formerly of Fidelity Select Chemicals) replaces her, effective April 1, 2010. Schuldt's previous research and managerial experience was in the area of chemical, industrial gas, and agriculture companies, which should come in handy here, since computers are made with chemicals (kind of), they emit industrial gases (when burned), and they can be used in the garden as planters (when obsolete). [3/10]

Fidelity Select Energy Service: John Dowd is gone as manager, replaced by Jonathan Kasen. [6/10]

Fidelity Select Environmental: Co-manager Douglas Simmons says goodbye to colleague Anna Dvydova, who is now in charge of this fund by herself. [7/10]

Fidelity Select Industrial Equipment: Manager Jonathan Kasen leaves for Select Energy Service (above), so somebody (specifically, Steven Bullock) has to move in here. [6/10]

Fidelity Select Insurance: Brian Wilhelm heads out the managerial revolving door, and Court Dignan takes over. [10/09]

Fidelity Select Natural Gas: James McElligott is now the ex-manager of this fund, succeeded by Ryan Oldham. McElligott had managed this fund since the end of 2005. We're guessing that McElligott had an out-of-the-way office, and the Fidelity brass simply forget about him -- how else to explain a Select fund manager with a tenure of more than four years? [7/10]

Fidelity Select Retailing: Evan Hornbuckle is out as manager, and Peter Dixon is in. [5/10]

Fidelity Series Broad Market Opportunities: Talk about mutual fund efficiencies! It used to take eleven people to manage this fund, and now it takes only two: Christopher Sharpe and Geoff Stein. [5/10]

Fidelity Stock Selector: James Catudal steps down as lead manager. Christopher Sharpe and Geoffrey Stein are now in charge, assisted by a whole bunch of people (nine, in all). [12/09]

Fidelity Southeast Asia: Jess Tan is out as manager, replaced by Colin Chickles. [11/09]

Fidelity Tax-Free Bond: See Fidelity Advisor Municipal Income, above. [7/10]

Fidelity Value: Manager Richard Fentin will retire at the end of July 2010, so Matthew Friedman has been brought on to learn the managerial ropes during a three-month transition period. Apparently influenced by the "more the merrier" school of fund management, Fidelity is bringing on five additional managers (starting June 7), who "will be responsible for a portion of the assets of the [fund] using a sector neutral approach, with each individual responsible for managing one or more sectors of the portfolios." [6/10]

Fifth Third Small Cap Growth: The departure of managers David Luebke and Jill Thompson cut this four-person team in half. [8/10]

Forward Emerging Markets: This fund is subadvised by Pictet Asset Management Limited, and there's been some turnover at Pictet: Tom Rodwell is off the two-person team, and Klaus Bockstellar joins continuing team member Nidhi Mahurkar. [11/09]

Frost Small Cap Equity: Hoover Investment Management is fired as subadvisor, and a couple of new subadvisors take over (Cambiar Investors and Artio Global Management). (As of the date this item was posted, shareholder approval of this change was pending, but expected.) [7/10]

GAMCO Global Convertible Securities: Co-manager Wayne Plewniak bails out, leaving Mario Gabelli as the sole manager in charge, at least officially. [1/10]

GE International Equity: Makoto Sumino leaves this six-person management team. For now, at least, Sumino is not being replaced. [12/09]

GE Small-Cap Equity: David Wiederecht is out as manager, and Judith Studer takes over. The manager of this fund "is vested with oversight authority over the Fund's subadvisers that provide day-to-day-day management," and the fund's subadvisers haven't changed, so you could say that nothing has changed, and this entire paragraph is unnecessary. But we just report them as the fund companies report them. [10/09]

GE Total Return: David Wiederecht leaves this six-person management team. No replacement has been announced. [10/09]

Generation Wave Growth: GNI Capital, Inc. is fired as subadvisor, which also disposes of day-to-day managers Charles Norton and Allen Gillespie, who were affiliated with GNI. The fund's investment adviser will henceforth handle management itself, in the person on Jeff Middleswart. [3/10]

Goldman Sachs BRIC: Maria Gordon is gone from this fund's management team, and Alina Chew and Gabriella Antici join the two remaining comanagers. [8/10]

Goldman Sachs Emerging Markets Equity: See Goldman Sachs BRIC, above. [8/10]

Goldman Sachs Investment Grade Credit: James Cielinski is out as comanager, and Lale Topcuoglu replaces him. Contunuing manager Ben Johnson.....continues.[8/10]

Hartford Select Small Cap Value: This fund is run by three subadvisors (i.e., outside managers), and one of those subadvisors (SSgA Funds Management) is undergoing a change: William DeRoche and Chuck Martin are out, and Scott Conlon and John O'Connell take over. [5/10]

Hartford Small Cap Value HLS: See Hartford Select Small Cap Value, above. [5/10]

Heartland Value Plus: A three-person management team becomes a two-person management team, as Michael Petroff leaves the fund, and also leaves the firm. [4/10]

Hennessy Select SPARX Japan: Shuhei Abe is out as comanager, replaced by Tetsuya Hirano. Continuing comanager Masakazu Takeda remains. [7/10]

HighMark Core Equity: Richard Rocke steps down as part of this three-person management team, and now there are two (David Goerz and Derek Izuel). [11/09]

HighMark Small Cap Advantage: See HighMark Core Equity, above. [11/09]

ICM Small Company: Co-manager Robert McDorman will retire at the end of February 2010. McDorman's four remaining colleagues will continue in charge. [1/10]

IMS Dividend Growth: Three folks had been runnning this fund, and now it's only one: Cameron Martin and Reid Weaver are gone, leaving Carl Marker by himself. [8/10]

ING Emerging Countries: Three-person teams swap places: The team of Derks/Lampl/Bootsma is replaced by the team of Guy Uding, Patrick den Besten and Eric Anderson. [8/10]

ING International Small Cap Multi-Manager: Matthew Cohen leaves the five-person team from Acadian Asset Management, one of the two firms that subadvise this fund. [8/10]

ING Wells Fargo Omega Growth: Wells Fargo is out of the picture at this fund, and Wells Fargo's managers (Thomas Pence and Michael Smith) also are gone. Replacing Pence and Smith are Christopher Corapi and Jeff Bianchi of ING Investment Management. Oh, and the name is changing, to ING Large Cap Growth. [7/10]

Integrity Williston Basin/: Manager Robert Loest died in February 2010. Management duties have been taken over by the team of Monte Avery, Shannon Radke, and Robert Walstad. [4/10]

Invesco Basic Balanced: Bret Stanley leaves as lead manager of this six-person team, which is now down to five. [6/10]

Invesco Dividend Growth Securities: The management team of of Gregory Lai, Stephen Pelensky and Jordan Floriani is replaced by Meggan Walsh (lead) and Jonathan Harrington. [7/10]

Invesco Equally-Weighted S&P 500 Index: (See Invesco S&P 500 Index, below.) [7/10]

Invesco Financial Services: Michael Simon leaves as comanager, and Meggan Walsh now handles this fund solo. [8/10]

Invesco Mid Cap Basic Value: Bret Stanley leaves this four-person management team, and leaves the firm. [6/10]

Invesco S&P 500 Index: Hooman Yaghoobi and Teimur Abasov are removed as managers. A four-person team is now in charge (Merrill Martin, Glen Murphy, Daniel Tsai and Anne Unflat). [7/10]

Invesco Structured Core: Maureen Donnellan is off this five-person management team, and Anne Unflat replaces her. [7/10]

Invesco Van Kampen American Franchise: Robert Lloyd and Ryan Amerman are out as managers, replaced by Erik Voss (lead) and Ido Cohen. [7/10]

Invesco Van Kampen Capital Growth: Robert Lloyd and Ryan Amerman are out as managers, replaced by Erik Voss (from Seligman, below) and Ido Cohen. [8/10]

Invesco Van Kampen Core Equity: See Invesco Dividend Growth Securities, above. [7/10]

Invesco Van Kampen Equity Premium Income: Hooman Yaghoobi and Teimur Abasov are gone as managers. A five-person team is now running the show (Ralph Coutant, Lawson McWhorter, Glen Murphy, Anthony Shufflebotham, and Anne Unflat). [7/10] [7/10]

Invesco Van Kampen Senior Loan: The most recent prospectus filed with the SEC shows a three-person management team of Philip Yarrow (lead), Gerard Fogarty and Jeffrey Scott. The current Invesco Van Kampen Web site shows a two person team of Yarrow and Tom Ewald. Clearly, something has happened, but (as of June 29, 2010) Invesco Van Kampen hasn't yet bothered to inform the SEC. [7/10; Ewald and Yarrow confirmed in subsequent SEC filing]

Ivy Small Cap Growth: Gilbert Scott is out as manager, and Timothy Miller takes over. [5/10]

Ivy Small Cap Value: Say goodbye to manager Timothy Miller, say hello to manager Matthew Norris. [5/10]

Janus Short-Term Bond: Jason Groom is gone as comanager. Groom is replaced by Gibson Smith, who joins continuing comanager Darrell Watters. [8/10]

Janus Venture: William Bales, manager since February 1997, leaves the fund and leaves the firm. He's replaced by the team of Chad Meade and Brian Schaub, who also handle the management duties at Janus Triton. [8/10]

JHancock Financial Industries: Roger Hamilton steps down from this three-person management team. Now, it's a two-person team, with Susan Curry and Lisa Welch continuing. [10/09]

JP Morgan China Region: Kevin Chan leaves this three-person management team, and now there are two in charge: Howard Wang and Emerson Yip. [12/09]

JPMorgan Emerging Markets Debt: Robert Michele is out as manager, replaced by Pierre-Yves Bareau. Michele, who took over in August 2009, was apparently intended as an interim replacement all along. [11/09]

JP Morgan Intrepid America: A three-person management team is now down to two: Robert Weller is gone, and Christopher Blum (lead) and Jason Alonzo remain. [3/10]

JP Morgan Intrepid Growth: See JP Morgan Intrepid America, above. [3/10]

JP Morgan Intrepid Multi Cap: See JP Morgan Intrepid America, above. [3/10]

JP Morgan Intrepid Value: See JP Morgan Intrepid America, above. [3/10]

~K-N~
Kinetics Water Infrastructure: Manager William Brennan (of subadvisor Brennan Investment Partners) sends himself down the drain (i.e., resigns). The managerial reservoir is replenished with a sparkling, new team of four from Kinetics: Peter Doyle, Murray Stahl, David Kingsley (described as "lead co-portfolio managers"), plus James Davolos. [8/10]

Lazard International Equity Select: Two managers are gone from this five-person team (Gabrielle Boyer and Adam Cohen), and it takes three people (Michael Fry, James Donald and Kevin Matthews) to replace them. [6/10]

Loomis Sayles Growth: A management team bites the dust (Mark Baribeau, Pamela Czekanski, Richard Skaggs), and new manager/new hire Aziz Hamzaogullari takes over. [6/10]

Lord Abbett Convertible: Maren Lindstrom departs as comanager, moving Christopher Towle from comanager to sole manager. [11/09]

Lord Abbett municipal bond funds (several): Peter Scott Smith replaces Daniel Vande Velde as comanager of the following Loard Abbett "Tax Free" funds: Connecticut, New Jersey, New York, Georgia and Pennsylvania. Daniel Solender is the other comanager, who continues. [11/09]

Mainstay 130/30 International: Luke Smith, of subadvisor Madison Square Investors, is gone from the management team. Smith's colleague from Madison Square, Andrew Ver Planck, will carry on without him. [2/10]

Managers Small Cap: TimesSquare Capital Management is removed as manager, and Frontier Capital Management, of Boston, takes over. [10/09]

Marshall Short-Term Income: Richard Rokus steps down as manager, and Vincent Russo replaces him. [5/10]

MassMutual Select Diversified Value: As with Vanguard Windsor (see below), we're assuming that John Mahedy and Marilyn Fedak, employees of subadvisor AllianceBernstein, leave as co-managers of this fund (MassMutual also hasn't gotten around to filing with the SEC). While we're in the assuming mode, we'll assume that remaining co-manager David Yuen is continuing in charge, and that he is joined by Joseph Paul. [10/09]

MassMutual Select Small Cap Value Equity: SSgA Funds Management is fired as subadvisor, and two new subadvisors take over: Wellington Capital Management (ho-hum) and Barrow, Hanley, Mewhinney & Strauss. The faces behined the corporate names are Shaun Pedersen and Timothy McCormack at Wellington, and James McClure and John Harloe at Barrow. [11/09]

MEMBERS Aggressive Allocation: Scott Opsal is out as co-manager. David Hottman replaces Opsal and, presumably, gets the MEMBERS-only jacket. Patrick Ryan is the continuing manager. Opsal, Hottman and Ryan are (or were) all on the payroll of Madison Asset Management, which took over as subadvisor for this fund on July 1, 2009. [11/09]

MEMBERS Conservative Allocation: See MEMBERS Aggressive Allocation, above. [11/09]

MEMBERS Large Cap Value: Scott Opsal is out as comanager, and John Brown now runs this fund solo. [11/09]

MEMBERS Moderate Allocation: See MEMBERS Aggressive Allocation, above. [11/09]

MFS Sector Rotational: Valley Forge Capital Advisors is removed as subadvisor, so day-to-day manager Michael Mara (of Valley Forge) also is gone. MFS is taking management of this fund in-house, and Matthew Krummell will carry the flag for MFS. [3/10]

MFS Technology: Manager Telis Bertsekas is replaced by Joseph MacDougall. [6/10]

Morgan Stanley Strategist: This fund is now Morgan Stanley Global Strategist, which triggers a manager change: W. David Armstrong and Sanjay Verma are out as comanagers, and Francine Bovich and Henry McVey replace them. Mark Bavoso continues as the other comanager. [4/10]

Mutual Financial Services: Charles Lahr leaves as manager and leaves the firm. Andrew Sleeman takes over. [1/10]

Mutual Global Discovery: Managers Anne Gudefin and Charles Lahr decide that it's time to leave the firm. Peter Langerman and Philippe Brugere-Trelat decide that, yes, they really would like to manage this fund, and so they will. [1/10]

Mutual Quest: Co-manager Anne Gudefin says goodby to the firm, leaving her colleage Shawn Tumulty to run this fund solo. [1/10]

Nakoma Absolute Return: Joel Kurth is removed from this three-person management team, and he's now happily plugging away as a "generalist analyst." Remaining co-managers Daniel Pickett and Mark Fedenia probably have nothing against "generalist analysts," but would prefer to stay where they are, thank you very much. [6/10]

Needham Aggressive Growth: Bernard Lirola is out as manager, and John Barr replaces him. [2/10]

Needham Growth: Bernard Lirola is out as co-manager, and John Barr replaces him, joining continuing manager Chris Retzler. [2/10]

Nomura Partners Global Equity Income: Comanager Akiro Ueno is replaced by Yoshiaki Saito. Hideyuki Aoki continues as lead manager. [8/10]

Nuveen Conservative Allocation / Nuveen Growth Allocation / Nuveen Moderate Allocation: Thomas Richards is off this two-person management team, leaving John Simmons to run this fund solo. [4/10]

Nuveen Enhanced Core Equity: David Tierney leaves this three-person management team, which is now down to two (John Gambla and Rob Guttschow). [7/10]

Nuveen Enhanced Mid-Cap: See Nuveen Enhanced Core Equity, above. [7/10]

Nuveen Multi-Manager Large-Cap Value: This fund is run by three subadvisors (Institutional Capital, Symphony Asset Management, and Nuveen HydePark Group), and there have been changes at two of these firms. Gunther Stein is the new manager for Symphony, replacing David Wang and Rick Brandt. Also, David Tierney leaves the three-person team from Nuveen HydePark, and it's now a two-person team. [7/10]

Nuveen Santa Barbara Growth: George Tharakan leaves as a member of this four-person management team. [12/09]

Nuveen Santa Barbara Growth Opportunities: George Tharakan leaves as manager, and it takes two to replace him (Allan House and Christopher Leonard). [12/09]

Nuveen Symphony Large-Cap Growth: David Wang and Rick Brandt are out as managers for subadvisor Symphony, and Gunther Stein takes over. [7/10]

Nuveen Symphony Large-Cap Value: See Nuveen Symphony Large-Cap Growth, above. [7/10]

Nuveen Symphony Mid-Cap Core: See Nuveen Symphony Large-Cap Growth, above. [7/10]

Nuveen Symphony Small-Mid Cap Core: See Nuveen Symphony Large-Cap Growth, above. [7/10]

Nuveen Symphony Optimized Alpha: See Nuveen Symphony Large-Cap Growth, above. [7/10]

Nuveen U.S. Equity Completeness Fund: David Tierney leaves this three-person management team, which is now down to two (John Gambla and Rob Guttschow). [7/10]

~O-S~
Oppenheimer International Bond: Robert Robis leaves this fund's three-person management team, and now it's down to two in charge: Arthur Steinmetz and Sara Zervos. When the team was three, Steinmetz was listed as lead manager; now, with Zervos, he gets no special billing. [8/10]

Oppenheimer Quest Balanced: Pretty much everything at this fund changes, as of August 15, 2010. Oppenheimer Capital LLC is removed as the fund's subadvisor, and along with the subadvisor go the fund's day-to-day managers (long-timer Colin Glinsman, and short-timers Douglas G. Forsyth and William Stickney). OppenheimerFunds, Inc. will now handle management of this fund without a subadvisor, and the in-house team of Christopher Leavy and Arthur Steinmetz will call the shots. The fund also is changing its name, to Oppenheimer Global Allocation, and along with the name change will come a dramatic shift in investment strategy. [7/10]

PIMCO Convertible: Manager Michael Pascutti, on the job about three months, is replaced by Jonathan Horne. [5/10]

Pioneer Global Equity: Neil Robson departs as comanager, leaving Piergaetano Laccarino to run this fund solo. [12/09]

PL International Large-Cap: David Mannheim leaves as comanager. Daniel Ling joins continuing comanager Marcus Smith. [12/09]

PNC International Equity: Two subadvisory firms manage this fund -- Morgan Stanley and GE Asset Management -- and the six-person GEAM team loses one of its members, Makoto Sumino. [1/10]

PNC Total Return Bond: Lead manager Brendan Burke is gone from the fund. Burke's two colleagues, who are experts on corporate credit and structured credit, remain with the fund to provide advice on sector weightings and security selection. New to the fund team is lead manager Timothy Compan, Jr., who is joined by Andrew Harding. [1/10]

Principal Large Cap Value: John Pihlblad is out as co-manager, and Jeffrey Schwarte replaces him. Arild Holm continues as co-manager. [3/10]

Putnam funds (several) :

Putnam fundOld managerNew manager
New OpportunitiesGerald MooreRobert Brookby
Small Cap GrowthAnthony SuttonPam Gao
VistaRaymond HaddadRobert Brookby
[5/10]

Putnam Global Industrial: David Gerber is out as manager. The team of Ferat Ongoren and Nathaniel Slater takes over for Gerber. [1/10]

Putnam municipal bond funds (several): Brad Libby is fired from Putnam's four-person muni-bond-fund team, leaving three managers in charge of the "Tax Exempt Income" funds for the following states: Arizona, California, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Pennsylvania. Libby's departure also cuts the management team down to three at the following Putnam funds: AMT-Free Municipal, Tax Exempt Income, and Tax-Free High Yield. [1/10]

Putnam Global Sector: Andrew Matteis steps down as manager, and it takes a village to replace him. Actually, it only takes a team of twelve: Kelsey Chen, Tom Codrington, Steven Curbow, Vivek Gandhi, George Gianarikas, David Morgan, John Morgan, Ferat Ongoren, Nathan Salter, Walter Scully, Chris Stevo, Michael Yogg....and a partridge in a pear tree. [8/10]

Putnam Global Telecommunication: Co-manager Coo Way Law is relieved of duty, and Vivek Gandhi now runs this fund solo. [1/10]

Putnam International Growth & Income: Manager Pamela Holding retires on January 1, 2010. She is replaced by Darren Jaroch. [1/10]

Putnam Research: Andrew Matteis steps down as manager, and here it takes only six young worthies to replace him: Kelsey Chen, Steven Curbow, George Gianarikas, Ferat Ongoren, Walter Scully, and Michael Yogg. [8/10]

Quaker Small Cap Value: Comanager Stuart Kaye leaves this seven-person management team, and Christopher Whitehead replaces him. [5/10]

Quant Long/Short: Steven Sapra is gone from this three-person management team, replaced by Ryan Brown. [7/10]

RiverSource Balanced: One third of a six-person management team gets a shake-up: Scott Schroepfer and Todd White are out, and Jennifer Ponce de Leon and Colin Lundgren replace them. [6/10]

RiverSource Disciplined Equity: Gina Mourtzinou steps down from this two-person management team, leaving Brian Condon to run this fund solo. [7/10]

RiverSource Disciplined Large Cap Growth: See RiverSource Disciplined Equity, above. [7/10]

RiverSource Disciplined Large Cap Value: See RiverSource Disciplined Equity, above. [7/10]

RiverSource Disciplined Small and Mid Cap Equity: Gina Mourtzinou leaves co-manager Brian Condon behind. Condon is joined by Alfred Alley III. [7/10]

RiverSource Disciplined Small Cap Value: See RiverSource Disciplined Small and Mid Cap Equity, above. [7/10]

RiverSource Diversified Bond: Scott Schroepfer and Todd White are off this three-person management team, and Jennifer Ponce de Leon and Colin Lundgren replace them. [6/10]

RiverSource High Yield Bond: Scott Schroepfer is gone as manager. Jennifer Ponce de Leon and Brian Lavin replace him. [6/10]

RiverSource Partners: Federated MDTA is fired as one of this fund's four subadvisors. Turner Investment Partners replaces Federated. [4/10]

RiverSource Small Company Index: Cheryl D'Hollander is out as manager, leaving her former colleague, Alfred Alley, to run this fund solo. [8/10]

RiverSource Strategic Allocation: Gina Mourtzinou leaves this six-person team, which is now down to five. [7/10]

Rydex/SGI Alpha Opportunity: John Boich leaves this five-person management team, which is now down to four. [12/09]

Rydex/SGI Global: See Rydex/SGI Alpha Opportunity, above. [12/09]

Rydex/SGI Global 130/30 Strategy: See Rydex/SGI Alpha Opportunity, above. [12/09]

Rydex/SGI Global Institutional: See Rydex/SGI Alpha Opportunity, above. [12/09]

Seligman Capital: Erik Voss is gone, replaced by a four-person team (Wayne Collette, Lawrence Lin, George Myers, and Brian Neigut). [8/10]

Seligman Growth: Four-year manager Erik Voss leaves this fund, for Invesco Van Kampen Capital Growth (see above). Taking over at Seligman Growth is the team of John Wilson and Peter Deininger. [8/10]

SSgA Disciplined Equity: Chuck Martin is off this fund's two-person management team, and Scott Conlon replaces him, joining continuing co-manager John O'Connell. [5/10]

SSgA Enhanced Small Cap: See SSgA Disciplined Equity, above. [5/10]

~T-Z~
T. Rowe Price Institutional Large Cap Value: David Giroux steps down as comanager. New comanager Mark Finn joins continuing comanager Brian Rogers. [4/10]

T. Rowe Price International Growth & Income: Raymond Mills is out as lead manager, and Jonathan Matthews takes over for him. But Mills isn't entirely gone: He joins eight others on this fund's Investment Advisory Committee, making for a total of ten people that get to stir this international pot. [12/09]

T. Rowe Price New Era: Long-time manager Charles Ober is on his way out the door (retirement), and Timothy Parker will be replacing him, effective June 30, 2010. Ober will reamin as a "member" of the fund's investment committee until December 31, 2010, at which point it will be bye-bye and see-ya for good. [11/09]

TCW funds (several): Early in December, star bond manager Jeffrey Grundlach burst his britches, took his marbles, and started his own money management firm (DoubleLine LLC). It has been estimated that about 40 professionals formerly affiliated with TCW are now affiliated with Grundlach and, as you might expect, Grundlach's departure (closely followed by the departure of bond also-guru Philip Barach) has rippled through many of TCW's funds. Herewith, the funds affected by Grundlach's departure, and the new managerial line-ups:

TCW fundOld managementNew management
BalancedJeffrey Grundlach/Diane JaffeeTad Rivelle/Diane Jaffee
Core Fixed IncomePhilip Barach/Jeffrey Grundlach/James HassettTad Rivelle/James Hassett
Short Term BondPhilip Barach/Jeffrey GrundlachTad Rivelle
Total Return BondPhilip Barach/Jeffrey GrundlachTad Rivelle
Aggressive AllocationJeffrey Grundlach/Michael Reilly/Komal Sri-Kumar/Allan TooleTad Rivelle/Michael Reilly/Komal Sri-Kumar/Adam Coppersmith
Conservative Allocation
See Aggressive Allocation, above
Moderate Allocation
See Aggressive Allocation, above
[1/10]

TCW Emerging Markets Income: Luz Padilla leaves as manager and leaves the firm; she's headed for -- can you guess? -- Grundlach's new company. Taking over for Padilla is the team of Penelope Foley, David Robbins, and Javier Segovia. [1/10]

Tocqueville Small Cap: The management team of Rankin/Adams/Huang is out, and Thomas Vandeventer is now calling the managerial shots on his own. [8/10]

Transamerica Partners Balanced: It's a subadvisor massacre, as three subs are fired and three take their place. Outgoing: Goldman Sachs Asset Management and Western Asset Management Company/Western Asset Management Company Limited. Incoming: BlackRock Financial Management and J.P. Morgan Investment Management. [8/10]

Transamerica Partners Small Value: Mesirow Financial Investment Management is fired as day-to-day manager (i.e., subadvisor), and Wellington Management Company takes over. Timothy McCormack and Shaun Pedersen are handling the duties for Wellington. [8/10]

Transamerica Partners Small Value: Michael Crowe leaves the two-person management team from Mesirow Financial Investment Management, one of this fund's two subadvisory firms. Susan Schmidt replaces Crowe, joining continuing manager Rosa Welton. [12/09]

UBS PACE Alternative Strategies Investments: First Quadrant is one of four subadvisors for this fund, and First Quadrant has made a change in its three-person management team: Steve Richey is gone, Chuck Fannin replaces him, and continuing managers Ken Ferguson and Dori Levanoni join in giving a hearty welcome to their new colleague. [11/09]

UBS PACE Large Co Growth Equity Investments: Nick de Peyster is out as comanager. J. Lee Montag replaces de Peyster, joining continuing manager Brian Shannahan (all of these folks work for SSgA Funds Management, one of this fund's four subadvisors). [12/09]

UBS PACE Small/Medium Company Value Equity Investments: Metropolitan West Capital Management is one of three subadvisors for this fund, and Met West has made a change in its two-person management team: Gary Lisenbee is out, and Samir Sikka is now on his own. [11/09]

UBS US Equity Alpha: Scott Hazen steps down as a member of this five-person management team -- now there are four. [11/09]

UBS US Large Cap Equity: Same as UBS US Equity Alpha, above. [11/09]

UBS US Large Cap Value Equity: Same as UBS US Equity Alpha, above, except it was a four-person team, and now it's three [11/09]

USAA fixed income funds (several) :

USAA fundOld managerNew manager
New York BondClifford Gladson Regina Shafer
Tax Exempt Intermediate-TermClifford Gladson / Regina Shafer Regina Shafer
Tax Exempt Short-TermClifford Gladson / Regina Shafer Regina Shafer
[5/10]

USAA Global Opportunities: A portion of this fund is subadvised by Credit Suisse Asset Management, and that portion has experienced some turnover: Jordan Low is gone, and new hire Mike Toikka takes over. [6/10]

USAA Growth and Tax Strategy: This fund has one manager for "tax-exempt bonds and money market instruments" and another manager for "blue chip stocks." Clifford Gladson, manager of the former category is kicked upstairs (to Chief Investment Officer), so John Bonnell takes over for Gladson. [5/10]

USAA Income Stock: OFI Institutional Asset Management is fired as subadvisor. Epoch Investment Partners, which was recently added as subadvisor (in anticipation of the OFI firing?), will continue to run the fund with the other subadvisor, Grantham, Mayo, Van Otterloo and Co. (GMO). [4/10]

Value Line Tax-Exempt: Kathleen Bramlage is out as manager, and Jeffrey Geffen takes over. [12/09]

Vanguard GNMA: Comanager Thomas Pappas leaves his colleague Michael Garrett as the sole manager of this fund. [8/10]

Vanguard International Value: There are four subadvisors on this fund, including Lazard Asset Management, and there's been a change in management for the Lazard portion: both current Lazard managers (Gabrielle Boyle and Michael Powers) are out, and the team of Michael Fry and Michael Bennett replaces them. [7/10]

Vanguard US Growth: John Jostrand has been shedding his management responsibilities at William Blair & Company (above), and since William Blair co-subadvises this fund (along with AlliancBernstein), it is likely that Jostrand will be gone here, too. [6/10]

Vanguard Windsor: David Yuen is gone as comanager, on the AllianceBernstein side of the portfolio. Gregory Powell replaces Yuen, joining continuing manager Joseph Paul. [8/10]

Vanguard Windsor: John Mahedy and Marilyn Fedak, employees of subadvisor AllianceBernstein, leave as co-managers of this fund. They are replaced by Joseph Paul and David Yuen. James Mordy, the other manager of this fund (from Wellington Management) is staying put. [10/09]

Van Kampen Pennsylvania Tax Free Income: Wayne Godlin and Robert Stryker leave this four-person management team, which is now down to three: Mark Paris and Robert Wimmel (both continuing), and Julius Williams (new). [1/10]

Vice: GNI Capital, Inc. is fired as subadvisor, which also disposes of day-to-day managers Charles Norton and Allen Gillespie, who were affiliated with GNI. The fund's investment adviser will henceforth handle management itself, in the person on Jeff Middleswart. [3/10]

Virtus Balanced Allocation: C. Thomas Johnson is off this four-person management team, and Thomas Lettenberger takes his place. [1/10]

Wells Fargo funds (two): Wells Fargo has acquired the Evergreen funds and, as a result (come June 2010) every Evergreen fund will be eliminated -- either renamed "Wells Fargo Advantage" something-or-other, merged out of existence into a Wells Fargo fund, or liquidated. In the case of fund mergers, Wells Fargo has chosen to handle them in one of two ways: either a new Wells Fargo fund will be created to receive the assets of the old Evergreen fund, or the Evergreen fund will merge into an existing Wells Fargo fund. It is the latter cases -- where the Evergreen fund merges into an existing Wells Fargo fund -- that we are interested in here. Specifically, the table below shows the two mergers (i.e., an Evergreen fund into a Wells Fargo fund) that are expected to result in a change of management in the surviving Wells Fargo fund:

Wells Fargo Advantage fundOld managementNew management
IndexGregory GenungBill Zieff
Total Return BondLudgood / O'Connor / Royer / StevensLudgood / O'Connor
[2/10]


Wells Fargo Advantage Growth Balanced: Galen Blomster leaves this six-person team, and Petros Bocray replaces him. [2/10]

Wells Fargo Advantage Minnesota Tax-Free: Julio Bonilla is removed from this three-person management team, which is now down to two (Wendy Casetta and Adrian Van Poppel). [4/10]

Wells Fargo Advantage Short Duration Government Bond: Co-manager William Stevens leaves the fund and leaves the firm. Remaining co-manager Thomas O'Connor is now in charge all by himself. [1/10]

Wells Fargo Advantage Small Cap Disciplined: Managers James Tringas and Bryant VanCronkhite, of Wells Capital Management, are booted, subject to shareholder approval. Metropolitan West Capital Management has been hired as new sub-advisor. [2/10; fund name will be changed to Wells Fargo Advantage Intrinsic Small Cap Value]

Wells Fargo Advantage Ultra Short-Term Municipal Income: Julio Bonilla is gone from this three-person management team, which now consists of Wendy Casetta and Lyle Fitterer. [4/10]

William Blair Large Cap Growth: John Jostrand leaves this three-person management team, and his two colleagues (James Golan and Tracy McCormick) will carry on without him. [6/10]

Winslow Green Growth: Matthew Patsky leaves as comanager, which leaves Jackson Robinson in sole command. [12/09]

Winslow Green Solutions: See Winslow Green Growth, above. [12/09]

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