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Manager Departs Ariel Appreciation

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Matthew Sauer has stepped down as a portfolio manager at  Ariel Appreciation (CAAPX) in order to take a similar position at Lateef Investment Management.

For Sauer, the move marks a reunion with an old colleague. James Tarkenton, a comanager of Lateef (LIMAX), previously worked with Sauer at Oak Value Capital Management. Sauer was a manager of Oak Value between 2003 and 2006. (That fund is now known as  RS Capital Appreciation (RCAPX).) At Lateef, Sauer will be a director and portfolio manager. Lateef, a boutique firm located outside San Francisco, manages $4 billion in separate accounts and the retail mutual fund.

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