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Fund Times: Veteran Oppenheimer Manager Retires

Plus, news on more LBO frenzy, growing foreign-fund flows, and more.

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OppenheimerFunds veteran Bill Wilby will retire from the firm after 16 years service, as well as from his management duties at the $8 billion  Oppenheimer Capital Appreciation (OPTFX), where he and comanager Marc Baylin took over in October 2005. Since July 2005, Wilby also aided in the development of equity investment strategies at Oppenheimer, in his capacity as director of equities. Baylin remains on the job.

Wilby's retirement is a loss for the firm and for the Capital Appreciation fund. Wilby is a savvy growth investor, particularly in the international arena. For more than a dozen years Wilby delivered strong results in a variety of market conditions at  Oppenheimer Global (OPPAX). He did so by employing an uncommon macro-level investment strategy. For instance, Wilby searched out companies most likely to benefit from rising mass affluence, the development of new technologies, or global aging dynamics. He didn't comanage Capital Appreciation long, but he had already put his stamp on that portfolio as well.

Lawrence Jones has a position in the following securities mentioned above: DODFX. Find out about Morningstar’s editorial policies.

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