Fund Times: Calvert Fires GMO
Plus, Managers adds a subadvisor to Small Company and more.
Calvert fired Grantham, Mayo, Van Otterloo & Co. as the subadvisor to Calvert World Values International Equity (CWVGX) and turned the fund over to Acadian Asset Management. Acadian is a quantitative manager that has produced solid results using a quantitative strategy at Acadian Emerging Markets, and for the roughly 40% of Vanguard Global Equity's (VHGEX) assets that it runs.
Managers Small Company Adds Second Subadvisor
Manager Funds named William W. Priest, David N. Pearl, and Joseph W. Donaldson of Epoch Investment Partners to run a portion of Managers Small Company (MSCFX). Kalmar Investment Advisers will continue to run the rest.
Lange Slashes Magellan's Market Cap
The first complete portfolio on Fidelity Magellan (FMAGX) since Harry Lange took over is out. It shows that Lange cut the fund's average market cap by more than half to $30 billion. In addition Lange has moved the fund toward growth as its centroid is now just over the line between blend and growth.
DWS Gets on the Bandwagon
Although real estate and foreign-value funds have been enjoying strong returns and inflows for years, at least one fund company doesn't believe it's too late to say 'me too.' DWS Scudder has filed plans to launch a global real estate fund and a foreign large-cap value fund.
DWS International Value Opportunities Fund will be managed by Klaus Kaldemorgen. This is his first U.S. mutual fund. DWS RREEF Global Real Estate Securities Fund will be managed by Danny Ekins, John Hammond, Kurt Klauditz, William Leung, John F. Robertson, and John W. Vojticek.
WisdomTree Joins the ETF Crowd
Speaking of bandwagons, WisdomTree has filed for a slew of trendy new exchange-traded funds. The following is a list of the proposed ETFs.
Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.