Morningstar is reporting what it believes are the most important fund manager changes of the year. None of them are funds I’m currently recommending in Retirement Watch. Two are funds I recommended in the past: Acorn International and Vanguard Windsor.
Columbia Acorn International‘s (ACINX) lead manager and Wanger Asset Management’s CIO Zach Egan stepped down from the fund in July and will leave the firm in September. Comanager Louis Mendes remains and is joined by Tae Han (Simon) Kim. Wanger, which runs the Columbia Acorn funds, has been beset by poor performance and manager turnover, so this news was disappointing. We downgraded the fund to Neutral from Bronze.