Plus, Aston launches five new funds, Northern Trust's first ETFs, and more.
Minyoung Sohn, manager of Janus Growth and Income
Sohn, who joined Janus as an equity analyst in 1998 and quickly rose through ranks, ran Growth and Income for three years and Fundamental Equity for two years. During his short tenure, Sohn molded these funds into promising large-blend offerings. We named him one of four rising stars of the mutual fund world in a recent article.
Marc Pinto, comanager of Janus Balanced
Janus' struggle to retain talent is troubling. Sohn's departure follows two other significant manager departures. Janus Fund's
Aston Launches Five Subadvised Funds
Aston Asset Management recently added five funds--two international and three mid-cap stock--to its lineup: Aston/Barings International, Aston/SGA International Small-Mid Cap, Aston/Montag & Caldwell Mid Cap Growth, Aston/ClariVest Mid Cap Growth, and Aston/Cardinal Mid Cap Value. Aston/Barings International will be subadvised by Baring Asset Management, which will utilize a growth-at-a-reasonable-price approach. Aston/SGA International Small-Mid Cap will be subadvised by quant shop Strategic Global Advisors. Aston will also expand its existing relationship with Montag & Caldwell through the introduction of the fundamentally driven Aston/Montag & Caldwell Mid Cap Growth. ClariVest Asset Management will utilize a quantitative approach, and Cardinal Capital Management will use a fundamental approach. These latest additions bring Aston's fund lineup to 27.
Legg Mason Value to Expand Holdings
In his latest letter to shareholders, Legg Mason Value
Muni Manager Leaves Vanguard, Prompting Manager Shuffle
Christopher Ryon, manager of five Vanguard muni-bond funds, has left the firm to pursue other interests. Veteran muni manager Reid Smith has replaced him on Vanguard Intermediate-Term Tax-Exempt
Northern Trust Readies Its First ETFs
Northern Trust is seeking to get into the ETF marketplace. The Chicago-based firm recently filed plans with the Securities and Exchange Commission for 27 ETFs that will be branded as "NETS." Northern Trust filed for 20 country-specific funds, four REIT funds, and three global funds. It is unknown how these ETFs will compete costwise with those of the market's largest players, Barclays, State Street, Vanguard, and Bank of New York.