MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, October 28, 2008 RiverSource Replaces Putnam-Bound Stockpicking Duo RiverSource Investments on Tuesday named replacements for portfolio managers Nick Thakore and Robert Ewing, who manage a total of six funds and are heading to Putnam Investments next month (see The MFWire, October 21, 2008). Meanwhile, RiverSource is evaluating the fate of one of those funds. Thakore and Ewing's last day at Riversource is October 31, according to RiverSource spokesman Ryan Lund. Effective November 3, John Schonberg will manage the RiverSource 130/130 Fund, in addition to his role as senior equity leader. Lund told The MFWire that the firm is evaluating the long-term status of that fund, and options could include merging it into another fund, liquidating it, or leaving it as is. Schonberg will also manage two funds until the close of RiverSource parent Ameriprise's acquisition of Seligman. When the deal closes, Erik Voss, co-leader of Seligman's core/growth team, will take the helm of the RiverSource Growth Fund and Richard Parower of Seligman's technology group will run the RiverSource Global Technology Fund. RiverSource's contrarian team in Minneapolis will take over management of the Large Cap Value Fund, as well as the equity portion of the Balanced Fund. The disciplined equity & asset allocation team in Cambridge, Massachusetts will manage the Large Cap Equity Fund. Printed from: MFWire.com/story.asp?s=19750 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |