Add Wasatch to the list of fund firms that have made cuts. The Salt Lake City-based fund advisor let go two fund managers are part of staff cuts, reported Morningstar. The moves come as the fund firm has lost half of its AUM over the past 18 months.

The cuts -- which included Laura Hoffman, comanager of Wasatch International Growth and Neal Dihora, comanager of the $144 million Wasatch Ultra Growth -- were announced October 24.

Morningstar predicts that the loss of the two portfolio pros will not disrupt the funds. The publication did not provide other details on the staff cuts. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE