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Fund Times

Rodriguez to Step Back from Managing Funds at FPA

Three-time Manager of the Year plans sabbatical in 2010.

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FPA's Bob Rodriguez plans to step back from day-to-day management of his funds  FPA Capital (FPPTX) and  FPA New Income (FPNIX). Rodriguez is a three-time winner of Morningstar's Manager of the Year Award.

Rodriguez says that he will take a one-year sabbatical beginning Jan. 1, 2010. At that time, his comanagers on the funds will assume lead manager roles. At FPA Capital, Dennis Bryan and Rikard Ekstrand will take the helm. Both were named comanager in 2007 but have worked with Rodriguez for more than a decade. At FPA New Income, Thomas Atteberry will become lead manager. He was named comanager in 2004.

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