Behind the Manager Changes at Three International Funds
At Janus, Oppenheimer, and Fidelity, new leaders enter at a tough time.
With Japan in distress, the Middle East in turmoil, and Europe struggling with an ongoing debt crisis, now is not the time you want to see a manager change at your international fund. It's tough enough having the fortitude to hang on to your fund, or have the courage to invest more, without having to suddenly wonder if the fund is worth owning at all because of uncertainty with its leadership.
Lately, though, shareholders of many international funds have found themselves in that position. A few cases in particular are worth a closer look.
Janus Worldwide (JAWWX)
It came as no surprise that this fund's management changed recently. Brent Lynn had been clearly labeled as an interim manager when he took over in May 2010 for the departed Laurent Saltiel (who himself had only been in that position for 13 months). However, that does not mean this change is a nonevent.
Gregg Wolper does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.