may be on the lookout for a new Core Plus team leader. The Wall Street Journal
's Diya Gullapalli reports
that senior vice president Angelo Manioudakis
left the Manhattan-based fund firm on Friday, to be temporarily succeeded by chief economist and fixed income director Jerry Webman
. Gullapalli links the departure to the woes of the $16-plus billion team's flagship Oppenheimer Champion Income Fund
, which has returned 82 percent year-to-date (compared to the 32 percent drop seen by the average junk-bond fund) and now has about $625 million. OppFunds even pumped $150 million of its own money into the fund last month.
If you're interested in a deeper look at the investment strategy of the beleaguered fund, take a look at the full WSJ
Stay ahead of the news ... Sign up for our email alerts now