This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. https://www.barrons.com/articles/mergers-of-asset-managers-are-on-the-rise-what-it-means-for-investors-51570229675 When shareholders of USAA International read the mutual fund’s next annual report, they might wonder what the heck just happened. Morningstar rates it five stars for its stellar long-term performance, but the fund recently fired MFS, the subadvisor largely responsible for that track record, and replaced it with two relatively unknown firms. What happened is that USAA is no longer USAA.