Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications this week.
Janus shuts thematic fitness ETF
Janus Henderson will close and liquidate its Health and Fitness ET just over a year after it was launched.
The Health and Fitness ETF was launched with three other health-influenced thematic funds, the Obesity ETF, Organics ETF and Long-term Health ETF in June 2016.
The group said its decision to close it by September 2017 were as a result of a standard review of the firm’s ETF line-up.
HSBC Global Asset Management re-opened its frontier equity fund after a surge in assets saw it closed to new investors three years ago.
The HSBC GIF Frontier Markets fund was formally re-opened to investors on August 14 after being shut in April 2014. Its assets have dropped to $405 million from its peak of $850 million in late 2014.
JPMorgan’s Timothy Woodhouse, a portfolio manager on the global equities team, has moved to the global focus and global opportunities strategies team within the firm.
As a result, portfolio manager Alexander Stanic has replaced Woodhouse on the $2.9 million JPMorgan Global Unconstrained Equity fund, according to a filing with the US regulator. Stanic will now co-run the fund with Sam Witherow, who has been managing the fund since September 2015.
Morgan Stanley Investment Management portfolio manager Christian Derold is to retire at the end of the year.
Derold is a manager on Morgan Stanley's London-based international equity team and joined the firm in 2006.
He managed the Morgan Stanley Investment Funds Global Brands and Morgan Stanley Investment Funds Global Quality fund among other strategies. The former will continue to be managed by Citywire A-rated Bruno Paulson as well as Nic Sochovsky, Dirk Hoffmann-Becking, Marcus Watson, Vladimir Demine and William Lock.
BMO Global Asset Management’s head of global high yield Chris Brils left the firm in May.
Brils joined the Canadian-owned outfit as part of Bank of Montreal’s takeover of his former employer F&C Asset Management in May 2014. He had already been with F&C for three years.