DWS Drops Subadvisor Dreman From Domestic-Value Funds
MFS Global Total Return adds 2 comanagers, Wasatch lures a large-cap value manager from ING, Calamos launches a dividend fund and a mid-growth fund, and American Century announces 2 promotions.
DWS Investments is switching the management lineup behind DWS Mid Cap Value (MIDVX) and the slumping, Neutral-rated DWS Small Cap Value (KDSAX). In September, an in-house team led by Richard Glass will replace the Dreman Value Management team subadvising the funds. Glass spent the past three years running small- and mid-cap value and separate accounts at a firm he founded, Lockwell Investments. Prior to that, he worked at Morgan Stanley and managed Van Kampen Small Cap Value--now Invesco Small Cap Value (VSCAX)--from late 2001 through mid-2010. Under Glass, the fund outpaced the small-value category average and the Russell 2000 Index, losing less than both the category and the index during market declines.
Glass was named U.S. head of small- and mid-cap value equities for Deutsche Asset & Wealth Management on Aug. 5. He will be supported by two new hires: Richard Hanlon, who founded and managed Glenville Capital Management for the past six years, and Mary Schafer, who worked at Morgan Stanley and Lockwell Investments alongside Glass.
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