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State Street Research Fund Manager Retires

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Dec. 4, 2002 — State Street Research & Management Co. said portfolio manager Kenneth Woodworth Jr. is retiring.

The company said money managers Jeffrey Lindsey and Edward Dowd joined Woodworth in running the $240-million State Street Research:Legacy Fund/A (SRLAX) this month and will continue as its sole managers in January.

Lindsey recently joined State Street Research as head of its large-cap growth stock team. Previously he helped run three funds at Putnam Investments. Dowd has been overseeing institutional accounts, a company spokeswoman said. Both are growth-oriented investors, she said.

Woodworth, who joined the Boston-based company in 1986, has managed the Legacy fund since its inception five years ago.

The fund lost 12% on average for the three years ended in October, while its large-cap growth fund peers were off 16.1%.