(PUB) Morningstar FundInvestor

August 2 014

Morningstar FundInvestor

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Ross Glotzbach was named a comanager of Longleaf Partners Small-Cap LLSCX on May 1 , and he already has more than $1 million invested. Although this is his first portfolio manager assignment, he’s been with Southeastern Asset Management since 2004 . At the same time he was named comanager, Glotzbach was promoted to deputy director of research. First Eagle US Value FEVAX comanager Matt Lamphier took on that role in March and promptly invested more than $1 million in the fund. Lamphier has been on the team since 2007 . Chris Davis became a manager at Davis Financial RPFGX in the wake of Ken Feinberg’s departure. It’s no surprise that the CEO and CIO of Davis Advisors has invested more than $1 million in the fund. Managers Named in 2013 With More Than $1 Million Invested Win Murray and Tony Coniaris were named coman- agers of Oakmark Select OAKLX in January 2013 , so they didn’t get to $1 million as quickly as the four managers mentioned previously, but that’s still pretty quick. Lawrence Kemp was put back in charge of Laudus US Large Cap Growth LGILX last year, and he quickly invested more than $1 million (or he left it in from his earlier run). Kemp had worked for UBS before bolting for BlackRock in 2012 . While Laudus initially kept the fund with UBS , it eventually reunited with Kemp at BlackRock.

Rick Snowdon of Diamond Hill Large Cap DHLAX joined lead manager Chuck Bath with more than $1 million invested in 2013 . FPA Crescent FPACX added Brian Selmo and Mark Landecker to the manager ranks last year, and they put their money where their mouths were. A wave of departures means Janus’ manager own- ership levels have dropped, but Jonathan Coleman quickly invested more than $1 million in Janus Triton JATTX . American Funds SMALLCAP World SMCWX manager Greg Wendt is now one of three managers at the fund who have invested more than $1 million in it. Finally, Kathleen McCarragher has more than $1 million invested in Harbor Capital Appre- ciation HACAX , as does longtime lead manager Sig Segalas. œ

Prominent Funds With Zero Manager Investment

Name

Fund Size Morningstar Category

PIMCO All Asset PAAIX

$34B Tactical Allocation

PIMCO Low Duration PTLDX

$22B Short-Term Bond

MFS International Value MGIAX $20B Foreign Large Value MainStay Hgh Yld Corp Bnd MKHCX $20B High-Yield Bond Vanguard Int’l Value VTRIX $9B Foreign Large Value Franklin Hgh Yld Tax-Free Inc FRHIX $8B High-Yield Muni PIMCO Frgn Bnd (USD-Hedged) PFORX $7B World Bond