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March 29, 2013 at 06:17 AM
New products introduced over the last week include an equities fund from DoubleLine, two new funds from Aberdeen Asset Management and a new fund from Brown Brothers Harriman.
In addition, Natixis launched a new fund; Sammons launched a new IRA; and Vanguard proposed merging two funds, reported lower expense ratios for another fund and published a paper on investing.
Here are the latest developments of interest to advisors:
1) DoubleLine Launches First Equities Mutual Fund
The DoubleLine Equities Small Cap Growth Fund (I shares, DBESX; N shares, DLESX), the first open-end domestic stock mutual fund managed by newly formed DoubleLine Equity, opened to investors Monday. The new fund seeks long-term capital appreciation. The fund’s assets will be invested principally in equity securities of small-cap U.S. companies or foreign companies whose shares trade on a U.S. exchange or are otherwise actively traded in the U.S., including in the form of American depository receipts (ADRs) and American depository shares (ADSs). The fund may invest in some securities that may trade principally or only outside the U.S.
In conjunction with the launch, DoubleLine Capital and DoubleLine Equity are holding a webcast/conference call at 4:15 PM Eastern/1:15 PM Pacific on April 1. Jeffrey Gundlach, CEO and chief investment officer of DoubleLine, will discuss his views on the equity markets and macro environment. A presentation on the fund strategy will be given by DoubleLine Equity partners Husam Nazer, portfolio manager of the fund, and Brendt Stallings, portfolio manager of other equity strategies at the firm.
2) Aberdeen Launches Latin American and European Equity Funds
Aberdeen Asset Management announced the launch of two new mutual funds: Aberdeen Latin American Equity Fund (A shares: ALEAX) and Aberdeen European Equity Fund (A shares: AEUAX).
ALEAX will be managed by the emerging-markets equity team, led by Devan Kaloo, head of global emerging-markets equities. The team will seek to achieve long-term capital appreciation by investing in equity securities of Latin American companies.
AEAUX will be managed by the pan-European equity team based in London, led by Jeremy Whitley, head of U.K. and European equities. The team seeks to achieve long-term capital appreciation by investing in equity securities of European companies.
3) Brown Brothers Harriman Announces Launch of BBH Global Core Select Fund
Brown Brothers Harriman & Co. (BBH) announced that it has launched the BBH Global Core Select Fund (BBGNX, BBGRX), a no-load mutual fund. The fund will be co-managed by Regina Lombardi and Tim Hartch, two members of the BBH core select investment team. The fund is the successor to the BBH private investment partnership, BBH Global Funds—Global Core Select, which launched on April 2, 2012.
