Deutsche overhauls management on EM fund
Deutsche Asset Management has changed the portfolio manager roster on the $95.1 million Deutsche Emerging Markets Fixed Income fund.
Schlotthauer is head of emerging markets fixed income at the firm and is a manager on the Deutsche Invest I Emerging Markets Sovereign Debt fund.
The Deutsche Emerging Markets Fixed Income fund has suffered from poor performance as of late and is ranked 58 out of 64 Emerging Markets HC Debt funds tracked by Citywire for three-year total returns to the end of August. Over that time it returned 2.7% compared to the average Emerging Markets HC Debt fund, which was up 12.1%.
In July the firm made a raft of changes to its fixed income manager line-up, which affected $1.56 billion in fund assets.
The switches also saw Ryan joined by Kevin Bliss on the Deutsche Unconstrained Fixed Income fund and Nadi taken off of the $170.3 million Deutsche Fixed Income Opportunities fund.
A Deutsche spokeswoman confirmed the changes but declined to comment further.
Federated trashes NY muni fund
Shareholders will vote on the reorganization on November 27, according to a SEC filing.
The Federated New York Municipal Income fund is ranked 22 out of 26 New York Municipals Debt funds tracked by Citywire for three-year total returns to the end of August. Over that time it returned 9.4% compared to the average New York Municipal Debt fund, which was up 10.7%
A spokesman could not be reached for comment in time for publication.
Western Asset loses to Barings in Pacific Life strategy revamp
Western Asset Management Company has lost a subadvised mandate to Barings LLC.
Western Asset will be replaced by Barings on the Pacific Life Inflation Strategy portfolio on November 1, according to a SEC filing.
The strategy is available as an underlying investments in Pacific Life variable annuity products.
It has $21.94 million in assets and was managed by Western Asset's Ken Leech and Frederick Marki.
The fund's investment strategy will also slightly change. The strategy can currently invest up to 40% in non-dollar debt. This will be limited to 15% under the new management.
A Western Asset spokeswoman confirmed the changes but declined to comment further.