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Fund Spy

Fund Managers Who Spit Out Their Own Cooking

These portfolio managers once had more than $1 million invested in their funds; now they have nothing.

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A couple of months ago, I wrote about the predictive power of manager investment and highlighted some funds where managers had raised their investment levels. Today, I’ll look at a few funds where managers have gone the other way.

I found four managers at six funds who formerly had more than $1 million of their own money in their funds but have sold their positions completely. In most cases, the fund companies did not provide an explanation. There are some plausible excuses, such as divorce or home purchases, to explain why they might have sold their holdings.

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