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Fund Times

Fund Times: Openings, Closings, & Manager Changes

Pioneer, Alleghany, Putnam, RS, Numeric, Calvert, Vanguard and others.

Beware when a fund company says nothing will change after a larger financial firm buys it. Recent history is replete with examples of mutual funds that just happened to change managers in the wake of asset manager mergers and acquisitions. Also Numeric Investors reopens its micro-cap fund, Calvert opens a South Africa fund, Vanguard liquidates two funds, and a life insurer assembles an impressive list of hired guns for a new fund line-up.

Manager Changes
Here's more evidence to look out for when a bigger financial corporation buys the money manager running your mutual funds. A batch of the funds that switched managers this week belonged to families that had been taken over by larger companies less than a year ago.