Portfolio

The Board of Trustees of the Northern Multi-Manager Funds last month approved the termination of Marsico Capital Management as a sub-adviser to the Multi-Manager Large Cap Fund (NMMLX, effective Sept. 12, and the appointment of WestEnd Advisors to sub-advise a portion of the Large Cap Fund, effective Sept. 24.

Clear, consistent messages about what makes a fund stand apart and serve a particular investment purpose well is what, in turn, makes a fund manager stand apart in the eyes of present or potential customers.

"Inventions have long since reached their limit, and I see no hope for further developments," Julius Sextus Frontinus, Roman engineer, 10 A.D.

Snap your fingers.

The Board of Directors of the $5.3 billion FPA New Income fund has approved a new distributor for the fund.

Delaware Investments has added Sean Pronger, a former professional hockey player, who recently joined Delaware Investments as regional director for its third-party retail distribution team supporting Los Angeles.

Well, that was quick.

The Laudus Mondrian Global Equity Inv (LGEQX) fund is liquidating at the end of November.

Fort Pitt Capital Group has a split personality. As an RIA, the Pittsburgh firm has $1.2 billion under management. As a fund provider, its Fort Pitt Capital Total Return Fund is 10 years old, with a five-star Morningstar rating for 10-year performance.

Three months after hiring Mark Howard-Johnson as the Global Head of Real Estate Securities Management, BlackRock today unveiled the first of many real estate funds to be managed by Howard-Johnson's new unit.