Wasatch loses international growth manager
Wasatch portfolio manager Kabir Goyal will leave the firm on October 10 after five-years.
As a result, he is no longer a manager on the $1.5 billion Wasatch International Growth fund which continues to be managed by Citywire + rated Linda Lasater, as well as Roger Edgley and Kenneth Applegate.
Prior to joining Wasatch in 2012 as a senior equity analyst, Goyal was an equity analyst at Putnam Investments.
‘We thank Kabir for his contributions to Wasatch and wish him well in his future endeavors,’ said a Wasatch spokesman.
Last month, it was
Turner liquidates three legacy funds
Turner Investments is to liquidate the $82.6 million Turner Midcap Growth fund, the $18.6 million Turner Small Cap Growth fund and the $10.4 million Turner Titan Long/Short fund on September 25, according to a Securities and Exchange Commission filing.
Launched in 1996 and managed by Jason D. Schrotberger, the Midcap Growth fund has returned 6.8% over the past three years until the end of July, compared to the sector average of 30.9%. It ranks 141st out of the 144 Multi-Cap Growth funds tracked by Citywire.
Launched in 1994 and also managed by Schrotberger, the Small Cap Growth fund has returned 23% over three years until the end of July, compared to the sector average of 29.7%. It ranks 106th out of the 142 Small-Cap Growth funds tracked by Citywire.
Launched in 2009 and managed by Scott C. Swickard, the Long/Short fund has returned -11.1% over three years until the end of July, compared to the sector average of 8.5%. It ranks 68th out of the 73 Long/Short Equity funds tracked by Citywire.
Berwyn, Pennsylvania-based Turner has recently
The firm is closing the above three funds in order to refocus its efforts on new ETF and fund products, according to a Turner spokesman.
'Historically, Turner had used a traditional fundamental equity stock selection process. Today Turner is transitioning to new multi-asset class or multi-style vehicles that utilize a rules- or factor-based approach, proprietary global macro trading models, and a high degree of risk management—all of which is designed to target lower volatility and uncorrelated returns for investors,' said the same spokesman.