Fund Times: Oppenheimer Real Asset to Reopen

Oppenheimer Wednesday announced it had reopened  Oppenheimer Real Asset . The fund had closed because it was having difficulty finding sufficient commodity derivatives.

"Over the last few months, we've seen the regulatory ambiguity surrounding the use of commodity derivatives clear up," said Kevin Baum, portfolio manager for the fund, in a press release. "This has helped to expand the market for these instruments and has allowed us to enhance the fund's structure. These two factors make us confident that we can provide full commodity exposure moving forward."

New Skipper at Fidelity Disciplined Equity
Fidelity announced on Monday that Steven Snider will step down from the $7 billion  Fidelity Disciplined Equity (FDEQX) to focus on running money for Fidelity's institutional wing, Pyramis. He will be replaced by Keith Quinton, who also manages  Fidelity Tax Managed Stock Fund  and Fidelity Advisor Tax Managed Stock Fund .

Quinton's record in two years at those funds has been respectable. However, those funds have tiny asset bases, so his record isn't nearly as impressive as Snider's. Snider has posted top quintile returns in his six years at the helm of Fidelity Disciplined Equity.

American Funds Heading in Right Direction on Alcoa
The analyst or analysts at American Funds covering Alcoa appear to have made a good call. Alcoa disappointed the Street with earnings well short of expectations Tuesday, and the stock is expected to get hammered today. However, a number of American Funds were selling the stock in the second quarter. We don't yet have third-quarter portfolios, so we can't tell if funds like  American Balanced (ABALX) and  Investment Company of America (AIVSX) got out entirely before the bad news hit.

Morningstar.com Premium Members can read stock analyst Scott Burns'  note on the bad quarter.

DWS Scudder's Benkner Resigns
Deutsche Bank Tuesday announced that Axel Benkner is resigning as global head of retail funds and CEO of DWS Group. Benkner said he was stepping down to spend more time with his family. The firm has not yet named a replacement.

Baron Conference on Friday
One of the fund industry's biggest events of the year, the Baron Investment Conference, will be held in New York on Friday.

Besides Baron fund managers, a number of CEOs from some of their biggest investments will speak. In addition, the day will conclude, as usual, with a big name surprise entertainer. In years past, Jerry Seinfeld, Stevie Wonder, and Elton John have entertained the Baron faithful.

The event is open to Baron fundholders, but space is limited.

The Top Five Fund Spy Columns
In case you missed them, these were the five most popular Fund Spy columns in the third quarter:

Two Mutual Funds to Buy and Two to Dump
First Half Grades for 10 of the Biggest Mutual Funds
20 Funds with the Biggest Outflows in 2006
Four Great Funds for 401(k)s and IRAs Only
What to Make of Fidelity Fund Closings