During the financial crisis in 2008, the fund beat most its peers and managed to take in new cash from investors. Yet Global Allocation has recorded about $25 billion in withdrawals since 2012, according to Thomson Reuters' Lipper research unit.
The fund's other four portfolio managers—Dan Chamby, Russ Koesterich, David Clayton and Kent Hogshire—will all continue in their roles. Chamby is a veteran at the fund's helm, while Koesterich, Clayton and Hogshire were elevated to portfolio manager roles earlier this year.
They will continue to manage a sprawling team of more than 50 people who focus on the fund, including analysts, traders and marketing personnel.
Stattman will continue as an advisor to the asset manager's Multi-Asset Strategies Group, which oversees the fund, according to the memo.
This article was provided by Reuters.