Plus, Evergreen replaces subadvisor, and more.
Vanguard has updated its estimated 2009 capital gains distributions. Interestingly, three ETFs will make gains distributions, including a more than $11 short-term gain from the Vanguard Extended Duration Treasury ETF, roughly 11% of NAV and market price as of Nov. 24.
The family has launched seven new bond funds and ETFs. The new funds are Short-Term Government Bond Index VGSH, Intermediate-Term Government Bond Index VGIT, Long-Term Government Bond Index VGLT, Short-Term Corporate Bond Index VCSH, Intermediate-Term Corporate Bond Index VCIT, Long-Term Corporate Bond Index VCLT, and Mortgage-Backed Securities Index VMBS. The expense ratio for the funds' ETF and Signal (mutual fund) share classes is 0.15%, low for their respective categories.
Evergreen Changes Bond Fund Subadvisor
Evergreen announced in April that it anticipated proposing that Wells Capital Management Incorporated replace Tattersall Advisory Group Inc. as subadvisor for Evergreen Core Plus Bond
It has now filed to name Wells the interim subadvisor for these funds, effective Dec. 1, with the goal of making the arrangement permanent pending shareholder approval in mid-April 2010.
Evergreen Core Bond and Short Intermediate Bond will be managed by Troy Ludgood, Thomas O'Connor, Lynne A. Royer, and William C. Stevens. Evergreen Core Plus Bond will be managed by Michael Bray, D. James Newton II, Thomas M. Price, and Janet S. Rilling.
Hartford Adds Managers, Changes Fund Names
Hartford MidCap Growth
Carlos Feged will join Mark Niland and James Serhant as a manager of Hartford High Yield
Joseph Portera will become a portfolio manager of Hartford Strategic Income