CLS Investments has made a change in the management of its AdvisorOne Enhanced Income Fund, removing subadvisor Capital Wealth Planning, which had managed the options-writing portion of the fund since its inception in 2009.

CLS investment research analyst Grant Engelbart confirmed the change. He told MFWire that a new subadvisor has not been named, and that CLS will handle the services that Capital provided internally.

The AdvisorOne Enhanced Income Fund is a long/short fund with $83 million in AUM. CLS Investments, based in Omaha, Nebraska, sponsors the AdvisorOne series of ten no-load mutual funds, of which the flagship fund, the $483 million AdvisorOne Amerigo, launched in 1997.

MFWire was unable to reach representatives of the Naples, Florida-based Capital Wealth Planning. According to a disclosure brochure available online, the company manages over $300 million, and Kevin Simpson is its principal owner.  

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