Aug. 20, 2002 — PBHG Funds said it replaced the manager of two funds that invest in technology and telecommunications stocks in an effort to improve their performance.
A four-member team of portfolio managers who oversee other PBHG funds, including Michael Sutton, the company’s chief investment officer, and Gary Pilgrim, took over the PBHG Technology & Communications Fund (PBTCX) and the PBHG Global Technology & Communications Fund (PBGTX) on Monday.
They succeeded Michael Ma, who has returned to his role as as an analyst with the funds, a PBHG spokesman said.
Jerome Heppelmann and Raymond McCaffrey, who are value-oriented investors, will run the two funds with the growth-oriented Sutton and Pilgrim. The four managers are each responsible for a quarter of the funds’ holdings, the spokesman said.