The Stork swooped in today and brought a couple of new funds. Direxion Funds [profile]has filed for its Daily Dow 30 Bull 2x Shares and Daily Dow 30 Bear 2x Shares. The funds seek daily leveraged investment results. They will be advised by by Rafferty Asset Management and managed by Paul Brigandi. [SEC Filing]

Invesco [profile] announced via release the launch of its Global Opportunities Fund and Select Opportunities Fund. The Global Opportunities Fund will be managed by Perpetual's Global Equity Group. The Select Opportunities Team will have a management team of three, lead by Rob Mikalachki, who is the head of small-cap equities for Trimark Investments.

The Reaper struck and closed three funds.

Direxion Funds, under the recommendation of Rafferty Asset Management, has also filed to close a plethora of funds. The funds are Daily Agribusiness Bull 3X Shares, Daily Agribusiness Bear 3X Shares, Daily Basic Materials Bear 3X Shares, Daily BRIC Bull 3X Shares, Daily BRIC Bear 3X Shares, Daily Healthcare Bear 3X Shares, Daily India Bear 3X Shares, Daily Latin America Bear 3X Shares and the Daily Retail Bear 3X Shares. The filing cites the funds' inability to proceed in an economically efficient manner as the reason for why they will be terminated. As of August 6, 2012, the funds have a combined AUM of $27.66 million, according to their Morningstar profiles.[SEC Filing]

Transamerica Funds [profile] plans to liquidate three of their funds on or about September 30, 2012. The funds slated to be closed are Developing Markets Debt, Emerging Markets and International Value. [SEC Filing]

Janus Investment Fund [profile] filed to close its Global Market Neutral Fund. The fund will liquidate on October 15, 2012. As of August 3, 2012, the fund has $26 million in AUM. [SEC Filing]

Additionally, other funds are, or are being reorganized.

Janus filed for various small changes to its Real Return Allocation Fund. First, the fund will be renamed to Real Return Fund. Second, Janus removed Armored Wolf from subadvisor to the fund. According to Morningstar, as of August 3, 2012, the fund has $40.5 million in AUM. [SEC Filing]

Also, Janus has added a PM, Hiroshi Yoh, to its Emerging Markets Fund. , Yoh belongs to Janus Capital Singapore Pte. Limited. [SEC Filing]

The World Funds appointed Toreador Research & Trading to act as an advisor to the Third Millennium Russia Fund [SEC Filing]

Charles Schwab [profile] has also appointed a new PM for seven of their funds. Jonas Svallin will be part of a management team which supervises the Large-Cap Growth Fund, International Core Equity Fund, Dividend Equity Fund, Small-Cap Equity Fund, Hedged Equity Fund, Financial Services Fund, and Health Care Fund. As of August 3, 2012, these seven funds have a combined AUM of 2.8 billion, according to Morningstar.

Legg Mason [profile] named Gibboney Huske as PM for the Global Growth Trust. As of August 3, 2012, the fund has $156.8 million in AUM, according to Morningstar. [SEC Filing] 

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