Wellington PM off Hancock fund
The John Hancock Technical Opportunities fund (JTCAX), subadvised by Wellington Management, has removed Frank L. Teixeira as portfolio manager, according to a Securities and Exchange Commission (SEC) filing.
The fund, which tracks the MSCI All Country World index, employs an unconstrained approach, investing in developed and emerging markets and focuses on technical factors.
David Lundgren, who has served as co-portfolio manager on the strategy since 2017, will remain when Teixeira departs the strategy on June 29.
Teixeira has been with Wellington since 1997 and also serves as a partner and director of technical analysis. The fund has $497.5 million in assets as of April 6, according to Morningstar.
After this article was originally published, Wellington got in touch to say Teixeira is retiring from the firm on June 30 after more than 20 years.
Driehaus drops int'l small cap fee
Chicago-based equity shop Driehaus Capital Management plans to lower the management fee for the Driehaus International Small Cap Growth Fund (DRIOX) from 1.50% to 1.00% , according to an SEC filing.
The fund, which has $365 million in assets as of February 28, tracks the MSCI All Country World ex-USA Small Cap Growth Index and invests in developed and emerging markets small cap companies.
The reduction in the fee requires approval from the fund's board of trustees on June 4. If approved, the new fee will be implemented on July 1. The fund currently has a net expense ratio of 1.72% versus the Morningstar foreign small/mid cap average of 1.45%.
BlackRock plots AI ETF
BlackRock is to launch the iShares Robotics and Artificial Intelligence ETF, according to a SEC filing.
The fund, which tracks the NYSE FactSet Global Robotics and Artificial Intelligence index, will invest in developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and artificial intelligence.
It will be managed by a team of portfolio managers consisting of Diane Hsiung, Jennifer Hsui, Citywire + rated Alan Mason as well as Greg Savage.
Currently, there are a number of artificial intelligence related ETFs in the market including the Global X Robotics & Artificial Intelligence Thematic ETF and the ROBO Global Robotics and Automation Index ETF.
BlackRock also said recently that it would launch two environmental, social and governance (ESG) ETFs that exclude all producers and large retailers of civilian firearms as part of its plans to address gun violence in the US.
Columbia launches six muni SMAs
Columbia Threadneedle Investments has launched six new municipal bond separately managed account (SMA) strategies.
Three of these SMAs are traditional municipal bond strategies with durations of short, short-intermediate and intermediate. The other three are laddered strategies that also differ in durations. They will all be managed by Bill Callagy and Allyson McCann.
- Columbia Short Term Municipal SMA
- Columbia Short-Intermediate Municipal SMA
- Columbia Intermediate Term Municipal SMA
- Columbia 1–10 Year Municipal Ladder SMA
- Columbia 5–10 Year Municipal Ladder SMA
- Columbia 10–15 Year Municipal Ladder SMA
Columbia Threadneedle managed $19.5 billion in municipal fixed income and a total of $495 billion in assets as of December 31, 2017