Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Alternative Investments > Hedge Funds

Manager to Leave Salomon Brothers Capital Fund

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

Feb. 27, 2004 — Ross Margolies will step down as manager of the $1.7 billion Salomon Brothers Srs Fds:Capital/A (SCCAX) in May.

Margolies is leaving the fund to concentrate on overseeing hedge funds he has been piloting for a unit of Citigroup Inc (C), according to Robert Donahue Jr., who helps run Salomon Brothers Capital and will continue as its sole manager following Margolies’ departure. Salomon Brothers Asset Management, the mutual fund’s investment adviser, is also part of Citigroup.

The fund manager change was disclosed in a regulatory filing. Margolies, who began running the fund in 1995, could not be reached for comment.

Donahue, who joined Margolies on the fund in 1998, said there will be “very little change” in the way the fund is run, because both managers have “a very similar approach to investing.”

Donahue said Salomon Brothers Capital invests in undervalued and growth stocks, and buys companies of any size, although it focuses on those with market caps of $1 billion or more.

Salomon Brothers Capital returned 43.8% last year, while the average large-cap value fund was up 28.7%. Last month, the Salomon Brothers fund gained 4.6%, compared with a 1.7% return by its peers. Salomon Brothers Capital returned an average annualized 10.7% for the five years ended last month, while similar funds rose 3.2%.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.