The Stork delivered four new members of the beautiful fund family today.

Pathway Advisors Funds has filed for three new funds. The Pathway Advisors Conservative Fund will seek total return through income with a secondary emphasis on capital growth; the Pathway Advisors Growth and Income Fund will seek total return through capital and income; and the Pathway Advisors Aggressive Growth Fund will seek total return primarily through growth and secondarily through income. All three funds will be managed by David Schauer. [SEC Filing]

Arin Risk Advisors is gearing up for the launch of the Arin Large Cap Theta Fund, expected for early or mid-August. The fund seeks maximum relative total return versus the S&P 500, to be achieved by investing in a portfolio of common stocks, ETFs, and futures contracts, along with options trades that fund managers believe will be profitable based on perceived pricing discrepancies in the options market. In a phone interview with MFWire, Arin co-founder and chief market strategist Joe DeSipio explained the firm's approach to this fund. "A lot of investors are using volatility as an excuse, not an asset. Volatility is not necessarily a bad thing," he said. [SEC Filing]

Meanwhile, the Reaper claimed one fund today.

NCM Capital Investment Trust has terminated the public offering of NCM Capital Mid-Cap Growth Fund shares effective immediately. The fund will be discontinued effective August 30. The decision was made on Monday after the fund's board and investment advisor, NCM Capital Advisers, determined that closing the fund would be in the best interest of its shareholders. [SEC Filing]

Many funds experienced changes - two of them are particularly significant.

Thompson Plumb Funds will be changing its name to Thompson IM Funds, Inc. effective September 6. Accordingly, the Thompson Plumb Growth Fund will be renamed to "Thompson LargeCap Fund;" the Thompson Plumb MidCap Fund will be renamed to "Thompson MidCap Fund;" and the Thompson Plumb Bond Fund will be renamed to "Thompson Bond Fund." [SEC Filing]

Lord Abbett & Co. is making substantial changes to its Capital Structure Fund and Capital Structure Portfolio, pursuant to a proposal approved by the fund's board of directors on July 19. The fund will be repositioned, abandoning its former strategy of investing in both equity and fixed income securities to implement a domestic dividend-oriented equity strategy. The fund will also become part of Lord Abbett's Calibrated Funds, which use fundamentals and quantitative analyses as part of their investment processes. Additionally, the fund will be managed by new PMs Walter H. Prahl and Frederick J. Ruvkun. [SEC Filing]

Transamerica's Partners Small Core, consisting of the Asset Allocation Funds and Institutional Asset Allocation Funds, has a new PM. Charles Ko joined subadvisor Invesco earlier this year, and will serve as PM for the Transamerica funds per the sub advisory agreement. [SEC Filing] 

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