Deals & People May 12, 2009

Mercer Names Two to Outsourcing Posts

Mercer named Sharan Mitchell Carlisle as market leader—Great Lakes region and Steve Gordon as market leader—Southeast region for its outsourcing business.
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In these new roles, effective immediately, Carlisle and Gordon are responsible for leading all sales-related efforts in these U.S. markets, with a particular emphasis on total benefits outsourcing (TBO), which bundles defined contribution, defined benefit, and health and benefits administration into one Mercer/client relationship, Mercer said in a release. Both will report to Kerry Sain, North American sales leader for Mercer’s outsourcing business.

Carlisle brings more than 20 years of experience to her new role and joins Mercer from Wachovia Retirement Services, where she served as large market sales director. Prior to Wachovia, she held several key institutional retirement related positions at BB&T and First Citizens Bank & Trust.

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Gordon brings 18 years of experience to Mercer, having most recently served as director of Institutional Sales for Wachovia Retirement Services. Before Wachovia, he held several leadership positions with SunTrust Inc, including managing director in both retirement and investment management distribution. He began his career at The Northern Trust Company.

Products May 12, 2009

Turner Launches Fund with Access to Long/Short Strategies

Turner Investment Partners announced the launch of the Turner Spectrum Fund, a no-load, open-end mutual fund.
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The fund seeks capital appreciation by investing in six long/short equity strategies managed by the firm, according to a news release. The Turner Spectrum Fund will seek to capture alpha, reduce volatility, and preserve capital in declining markets by investing in the following long/short strategies, each managed by a separate portfolio management team at Turner:

  • Turner Market Neutral strategy, directed by Robert Turner, lead portfolio manager, investing in stocks in all stock market sectors, with a typical allocation resulting in a market-neutral net exposure;
  • Turner Long/Short Equity strategy, directed by Christopher McHugh, lead portfolio manager, investing in stocks in all stock-market sectors, with a focus on mid-sized and large companies globally;
  • Turner Select Opportunities strategy, directed by Frank Sustersic, lead portfolio manager, investing primarily in small-cap stocks across all sectors;
  • Turner Global Medical Sciences strategy, directed by Vijay Shankaran, lead portfolio manager, investing primarily in health-care stocks in global markets;
  • Turner Global Financial Services strategy, directed by David Honold Jr., lead portfolio manager, investing primarily in financial stocks in global markets;
  • Turner Global Consumer strategy, directed by Jason Schrotberger, lead portfolio manager, investing primarily in consumer-discretionary and consumer-staples stocks in global markets.

Although each strategy’s weighting in the fund will vary as a result of performance, Turner intends to rebalance each weighting equally at the end of every year, the company said.

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The Institutional Class Shares (TSPEX) of the Turner Spectrum Fund will require a minimum initial investment of $100,000, with an expense ratio initially capped at 1.95%. The Investor Class Shares (TSPCX) will be available with a minimum initial investment of $2,500 and an expense ratio initially capped at 2.20%.

The Turner Spectrum Fund will not charge investors a performance fee.

More information is available at www.turnerinvestments.com.

 

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