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Fund Times

Top Value Hound Hangs Out His Shingle

Veteran value skipper and former Torray co-manager Doug Eby is set to launch a new mutual fund in September.

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Veteran value manager Doug Eby is set to return to the mutual fund industry. Pending final approval from the board of trustees, the 17 Mile Value Fund will launch in September 2009 with Eby at the helm. Eby has formed 17 Mile Capital, a Carmel, Calif.-based adviser that is currently registering with the SEC.

Eby built a strong record as comanager of the  Torray (TORYX) fund during a 15-year run. He parted ways amicably with Torray LLC in November 2007. He has since run a long-standing private partnership and served on the boards of directors of several firms, including  Markel (MKL), where he works with CIO Tom Gaynor, a top investor.

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