July 1, 2004 — Salomon Brothers Asset Management Inc. said Robert M. Donahue Jr., the portfolio manager of Salomon Brothers Srs Fds:Capital/A (SCCAX), is leaving the company to start a hedge fund.
Salomon Brothers money manager Kevin Caliendo will replace Donahue on the $1.7-billion fund, effective July 15. Caliendo is a co-manager of the closed-end Salomon Bros Fund (SBF) and also helps manage institutional Salomon Brothers funds, including a health care fund.
The investment style of the Capital Fund will not change under Caliendo, a spokeswoman for Salomon Brothers said. Caliendo, like Donahue, will invest in growing companies as well as undervalued stocks, the spokeswoman, Mary Athridge, said.