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Invesco Trimark has announced that it is renaming a large number of its funds and portfolios to simplify its lineup of product brands. The company now offers three distinct product brands: Trimark, Invesco and PowerShares.

There is no change to the funds’ investment style or objectives, and no action is required by financial advisors or investors.

For a full list of the affected funds, please click here.

Also, effective September 16, 2010, the firm will offer index-based solutions and the ability to invest, directly or indirectly, in gold and silver. Asset allocation responsibilities for these portfolios and the Invesco Trimark Retirement Payout Portfolios will now be provided by Invesco Advisers, Inc.’s Atlanta-based Global Asset Allocation team.

– Jody White

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Dynamic adds to energy team

Jennifer Stevenson has been named vice-president and portfolio manager, energy with Dynamic Funds in Calgary.

“Ms. Stevenson is the perfect example of the kind of talent that we are proud to offer investors at Dynamic Funds,” says David Goodman, president and CEO of DundeeWealth Inc. “Her rich, on-the-ground experience adds bench strength to our portfolio management team and is a great fit with the entrepreneurial and opportunistic environment at Dynamic.”

In addition to her primary fund mandates, Stevenson will also provide energy sector insights to Dynamic’s Equity Income team from the Company’s Calgary office.

Stevenson has more than 20 years of experience in the energy sector, most recently as managing director, portfolio management at a Calgary-based investment management company where she was responsible for the identification and selection of oil and gas investment opportunities.

– Jody White

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Vanguard changes three fund advisors

U.S. based ETF pioneer Vanguard is restructuring the investment advisory arrangements for Vanguard Explorer Fund, Vanguard U.S. Value Fund, and Vanguard Market Neutral Fund.

Under the new arrangements, AXA Rosenberg Investment Management LLC will no longer serve as an advisor.

“After careful assessment, we’ve decided to restructure the investment advisory arrangements for the Explorer, U.S. Value, and Market Neutral Funds,” says Vanguard chairman and CEO Bill McNabb. “AXA Rosenberg has been an advisor for Vanguard funds for more than three years, and we thank the firm and its investment professionals for their dedication, commitment, and service during that time.”

For the $8.9 billion Explorer Fund, the assets previously managed by AXA Rosenberg — approximately 12% of the fund — have been apportioned to several of the fund’s six remaining advisors.

For the $492 million U.S. Value Fund, the portion previously managed by AXA Rosenberg (approximately 65% of the fund) has been directed to Vanguard Quantitative Equity Group, which now serves as the sole advisor.

For the $84 million Market Neutral Fund, Vanguard Quantitative Equity Group will now serve as the sole advisor, assuming responsibility for approximately 45% of the fund previously managed by AXA Rosenberg.

– Jody White

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Russell names new institutional director

Russell Investments has appointed John Formusa director of institutional investment solutions.

Formusa will be responsible for supporting the services offered to Canadian plan sponsors and other institutional investors on an array of investment strategies and solutions, including implementation services, managed investments and risk management.

“John brings deep knowledge and significant achievements in the institutional market to his new leadership role,” says David Feather, president and managing director of Russell Investments Canada. “The combination of his direct and practical experience in overseeing the development and execution of strategic, legal, operational, and investment decisions will bring great value to clients.”

Most recently, Formusa was vice-president, pension fund with Hydro One Inc., where he played a pivotal role in establishing the Hydro One Pension Plan, including implementation of the plan’s governance structure and investment manager selection process.

Formusa will be based in Russell’s Toronto office and will work closely with Russell’s Canadian Institutional Solutions team.

– Jody White

(08/12/10)