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Fund Times

Fund Times: Six Vanguard Managers Invest $1M+ in Funds

Plus, adios Scudder, a bummer for Hummer, new Wasatch managers, and more.

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In new filings, Vanguard revealed that six more managers have more than $1 million invested in their funds.

The Primecap team, which runs  Vanguard Primecap (VPMCX) and  Vanguard Capital Opportunity (VHCOX), revealed sizable stakes in its funds. Howard Schow has more than $1 million in each. Theo Kolokotrones has more than $1 million in Primecap and between $100,000 and $500,000 in Capital Opportunity. Joel Fried has between $500,000 and $1 million in Primecap and between $100,000 and $500,000 in Capital Opportunity. Alfred Mordecai has between $50,000 and $100,000 in each. Mitchell Milas has more than $1 million in Primecap and is not listed for Capital Opportunity.

At  Vanguard Capital Value (VCVLX), manager David R. Fassnacht has more than $1 million in the fund. Fassnacht works for Wellington. At another fund subadvised by Wellington,  Vanguard Wellesley Income (VWINX), managers Earl McEvoy and Jack Ryan each have more than $1 million in their fund.

At  Vanguard Asset Allocation (VAAPX), Thomas Loeb has $500,000 to $1 million invested. The fund is subadvised by Mellon Asset Management.

 Vanguard Morgan Growth (VMRGX) reports that John Cone and James Stetler don't own the fund, but Robert Rands has between $500,000 and $1 million in the fund, and Paul Marrkand has between $100,000 and $500,000.

So Long, Scudder
Deutsche Bank is taking the name Scudder off the funds managed by its Scudder subsidiary. The name Scudder will be replaced by DWS effective Feb. 6, 2006.

Wasatch Adds Managers
Wasatch Funds said it is adding portfolio managers to  Wasatch Ultra Growth (WAMCX) and  Wasatch Global Science & Technology (WAGTX).

Starting Jan. 31, Neal Dihora will join Ajay Krishnan and Karey Barker as a portfolio manager for the Ultra Growth fund. That same day Noor Kamruddin and Jim Gulbrandsen will join Ajay Krishnan as portfolio managers for the Global Science & Technology fund.

Dihora recently joined Wasatch after a stint at Nicholas Company. He had worked as an analyst at Wasatch from 2002 to 2003.

Gulbrandsen joined Wasatch Advisors in the summer of 2004 after running a long/short hedge fund in San Francisco.

Kamruddin joined Wasatch Advisors in 2004. Kamruddin was an equities analyst at Firsthand Capital Management in San Jose, Calif., from 1999 to 2002.

Bummer for Hummer Investors
Federated Investors plans to buy  Wayne Hummer Growth (WHGRX) ($162 million) and merge it into  Federated Kaufmann (KAUAX) ($8.4 billion). Wayne Hummer Growth is owned by Wintrust Financial.

The merger looks like a bad deal for Wayne Hummer Growth shareholders, as they are getting a bloated yet more expensive fund in exchange. Wayne Hummer Growth charges 1.06%, compared with 1.95% for Federated Kaufmann, meaning the board has just signed off on an 89-basis-point fee hike.

If shareholders approve the plan, the merger is expected to go through in late March.

Big Changes at Janus
Janus moved star manager David Corkins from  Janus Mercury (JAMRX) to the struggling  Janus Fund (JANSX). Janus Fund manager Blaine Rollins was moved to Janus Triton (JATTX). Janus Mercury is to be managed as an analyst-driven fund. Click here for the full story.

Amvescap Buys PowerShares
AIM Funds parent Amvescap announced it is buying PowerShares, a provider of trendy exchange-traded funds. Click here for the details.

Who Owns Livedoor, Ford, and Pixar?
In case you were wondering who owned some of the stocks in the news, you can check using our stock data pages ownership information. Very few funds are making big bets on  Ford (F), which just announced another big restructuring.  SunAmerica Focused Multi-Cap Value (SFVAX) has the largest bet with just 2.8% of assets in the stock. Click here for the complete list of funds with the most riding on Ford.

Not surprisingly, the much healthier  Pixar (PIXR) has many more fans, led by Eagle Growth (EGRWX), which has 4% of assets riding on the stock. Click here for the list. Pixar is in merger talks with  Disney (DIS).

Finally, we don't have Livedoor on our Web site because it's a Japanese stock, but in case you were interested, the impact on U.S. mutual funds figures to be minuscule. Only one fund,  Fidelity Japan Smaller Companies (FJSCX), had more than 2% of assets riding on the stock. Allianz NACM Pacific (PPRAX) had 1.44% riding on the stock. The Japanese Internet wonder has had its bubble burst by a fraud investigation and the arrest of its CEO.

Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.