Plus, Putnam's fixed-income chief resigns, and more.
Rohit Sah, manager of Oppenheimer International Small Company
Sah launched TCW International Small Cap for his new firm on Feb. 28. It will use a strategy similar to the one he employed at Oppenheimer. It will normally invest in companies located outside of the United States with market capitalizations of $6 billion or less at the time of purchase.
The new fund brings TCW's foreign equity lineup to two funds. Mark Madden, also a former Oppenheimer manager, runs TCW Emerging Markets Equities
This is disappointing loss for Oppenheimer investors, but not a blow to their other strategies. Sah's process was always a bit different in his use of macro calls as well as his tendency to take on shorter-term positions.
Since Sah didn't have a comanager or dedicated analyst, Oppenheimer International Small Company will return to a team-managed approach. From late 1999 through March 2003, Sah and the team's veteran managers (George Evans, Rajeev Bhaman and Frank Jennings) ran separate sleeves of this portfolio. This time around, Evans and Dominic Freud, who has managed Oppenheimer Quest International Value
Oppenheimer plans to keep the fund closed to new investors.
Putnam's Fixed-Income Chief Resigns
Putnam Investments announced the resignation of Robert Bloemker, head of its fixed-income operations, on Feb. 28. Bloemker helped manage nearly $60 billion, including overseeing the flagship Putnam Diversified Income
Putnam says the strain of a bicoastal commute between its Boston headquarters and Bloemker's home in San Francisco was the reason for the departure.