A-rated commodities and duration specialist to exit DWS

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NEW YORK: Rick Smith, a senior portfolio manager at DWS for nearly 18 years, plans to retire later this year.

‘We are very grateful to Rick for his distinguished service to our firm and our clients and wish him the best of success in his retirement,’ a DWS spokesperson said.

Smith, an A-rated manager with Citywire, will step off the $1.2bn DWS Short Duration and $2.6bn DWS Enhanced Commodity Strategy funds effective June 30.

DWS will add A-rated Jeff Morton to the Enhanced Commodity Strategy fund alongside Darwei Kung, while Lonnie Fox will join Morton and A-rated Thomas Sweeney on the Short Duration fun, according to filings with the SEC.