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Executive Briefings


Bond Funds' Inflows Top $8B

Total estimated inflows to long-term mutual funds were $6.12 billion for the week ended Wednesday, September 12, according to data from the Investment Company Institute.

Bond funds had estimated inflows of $8.11 billion, compared to estimated inflows of $5.28 billion during the previous week.

Emerald Unveils Trademark to Manage Global Fund

Emerald Asset Advisors has tapped Trademark Capital Management to manage the EAS Global Cycle Fund (EGCAX, EGCEX, EGCSX), now renamed the EAS Trademark Capital Global Fund.

Alts Fund Dumps Four Subadvisors

The Alternative Strategies Mutual Fund, a series of Northern Lights Fund Trust II, has bid farewell to a quartet of subadvisors, according to a Securities and Exchange Commission filing.

As of September 3, the fund's sub-advisory agreements with Dunham Associates Investment Counsel, DuPont Capital Management Corporation, Sage Capital Management and Research Affiliates terminated as a result of prior written notice of termination.

Morningstar to Offer Fitch Credit Rating Data

Morningstar will begin offering credit rating data from Fitch Ratings, the third-largest credit rating firm in the U.S. The data will be offered through Fitch Solutions, the distribution channel of Fitch Ratings, and be available to institutional clients as part of the online data tools and analytics which Morningstar provides its clients.

Palmer Square Signs Another Hedge Fund

Palmer Square Capital Management has added a merger arbitrage manager to its growing stable of alternative funds. The firm, along with Montage Investments and Atlantic Asset Management, unveiled a partnership with Geneva Arbitrage Fund whereby the group will infuse Geneva with capital and access to the distribution channels of Montage and Atlantic.

Franklin Bets On Fund of Hedge Funds

Franklin Resources, the parent of Franklin Templeton Investments, has agreed to acquire a majority stake in K2 Advisors Holdings, a fund of hedge funds manager, from private equity shop TA Associates. Terms of the deal were not disclosed. Beginning in 2016, Franklin will acquire the remainder of K2 over a multi-year period.


Mirae Shelves Brazil, China Funds

Emerging market shop Mirae Asset Global Investments is shelving two funds from its Mirae Asset Discovery Funds trust, according to a Securities and Exchange Commission filing.

Specifically, the firm is liquidating the Brazil Sector Leader Fund and the China Sector Leader Fund on Oct. 24. The funds closed to new investments effective Sept. 19.

Nationwide Launches TIPS Fund

Nationwide Funds has launched a new inflation-protected mutual fund, the Nationwide Inflation-Protected Securities Fund (NIFAX/NIFIX), which will primarily bets on U.S. Treasury-issued Inflation Protected Securities. Joe Buck and Gary Hunt are the portfolio managers.

Orinda Offers Hedge-Like Mutual Fund

Orinda Asset Management, an independent, privately-held asset management firm, has launched the Orinda SkyView Macro Opportunities Fund (OMOIX and OMOAX), a multi-manager hedge fund offering.

The fund is subadvised by SkyView Investment Advisors and the underlying managers in the fund include: 2100 Xenon Group, Battenkill Capital Management, Crescat Portfolio Management and Sunrise Capital Partners.


Putnam, Fidelity Top Onlin Advisor List

Kasina has released its list of Online Leaders in Asset Management, and two firms from Beantown have come out on top as the choice du jour for advisors. Specifically, the top ranked firm in this year's list is Putnam Investments, followed by BlackRock with Fidelity Investments rounding out the top three.


Palmer Square Hires Institutional Marketing Chief

Emily Colella has joined Palmer Square Capital Management as a managing director, business development, Money Management Executive has learned. Prior to joining the Firm, Colella was a Managing Director at SSI Investment Management responsible for leading the Institutional Marketing and Client Service efforts focused on consultants and institutional clients globally.

Hatteras Beefs Up Northeast Presence

Hatteras Funds has added Yuri Khalif as Executive Director for the Northeastern region. Khalif is based in Pennsylvania and will focus on expanding business development and client relation services to investment consultants, RIAs and broker-dealers.

Pyxis Adds National Accounts Chief

Pyxis Capital has hired Stephen Dedyo as Head of National Accounts for the Pyxis distribution team. He will report to Brad Ross, president of Pyxis Capital. Dedyo joins Pyxis from Janus Capital Group, where he was Director, Advisor Relationship Management, covering many major national broker-dealers.

ING Reshuffles Executive Team

ING U.S., the holding company for ING U.S.'s core Retirement, Investment Management and Insurance businesses, has expanded the roles and responsibilities for some members of its executive team. Effective immediately, Rodney Martin, chief executive officer, will oversee ING U.S.'s core retirement and insurance businesses, while continuing with his current direct management responsibilities as CEO.

Alain Karaoglan has been promoted to chief operating officer and will assume oversight responsibility for ING U.S.' core investment management business, brand marketing, operations, and Information technology, in addition to continuing with his responsibilities for strategy and corporate development and investor relations. And Ewout Steenbergen, chief financial officer, will now assume oversight responsibility for ING U.S.'s treasury and capital operations.

Segal Names Advisors Group Chief

Investment advisory firm Segal Rogerscasey has hired David Pappalardo as head of the firm's Advisors Solutions Group, a unit that provides access to Segal Rogerscasey's institutional-quality research through financial intermediaries.

Pappalardo was at one time a director in Investment Consulting for Rogerscasey. He most recently served as a Global Relationship Management Leader for GE Asset Management in Stamford, Conn.