Jim Pavia just hired Jessica Toonkel's replacement at InvestmentNews. The MFWire.com has learned that Fund Action alum Jason Kephart joined Manhattan-based InvestmentNews on Monday as the reporter covering the mutual fund beat.

Fund Action, an Institutional Investor newsletter also based in New York, recently rebranded as Fund Industry Intelligence. MFWire.com could not immediately reach FII managing editor Mike Schnitzel for comment on how Kephart's duties are being handled.

Pavia, editor of InvestmentNews, referred inquiries directly to Kephart. InvestmentNews is published by Chicago-based Crain Communications.

Kephart previously worked in a part-reporter, part-research role at Smart Money Magazine before joining Fund Action. He spent about 18 months at the trade pub focusing on the mutual fund industry. So why did he jump to InvestmentNews?

"It was just a great opportunity," Kephart told MFWire.com.

Kephart succeeds InvestmentNews' prior mutual fund beat reporter, Jessica Toonkel, who also previously worked at Fund Action. Toonkel moved to Reuters this summer [see MFWire.com, 8/22/2011].

Another Fund Action reporter also moved on this year. In November Jean Heinz joined LPL Financial [see our sister publication, The 401kWire, 11/11/2011]. 

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