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Fund Spy

The Eight Biggest Manager Changes of 2009

Which funds got upgrades and which got downgrades?

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Manager changes present one of the tougher challenges for investors. When you bought a fund, it may have had an experienced manager, a strategy you liked, and a strong record. But when there's a manager change, it's not easy to figure out how good the new manager is, what his or her record is, and what strategy he or she will follow. And sometimes the change was made because of poor performance, so you have to figure out if the new manager can turn things around.

It's made more difficult because fund companies tend not to draw much attention to the changes and they often spin the changes a bit so that they sound like upgrades. If the fund had a strong record, then they'll say nothing will change. If it had a weak record, then they'll say the change fixes everything.

At FundInvestor, I try to help out by sending quick e-mails with my first takes on the changes. I also publish a brief breakdown of the latest changes in FundInvestor each month. So, to get you caught up on any key changes that you might have missed, here are some of the biggest changes announced so far this year. The manager change date is listed to the right of each fund name.

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Russel Kinnel does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.