Fund Openings, Closings, Manager Moves: Oppenheimer Brings a Team Approach to Enterprise

Oppenheimer, after the recent defection of manager Jay Tracey to Berger Funds, has decided that the $900 million (OENAX Quote)Enterprise fund will be managed by a group, a spokesman said.

David Hyun was named lead manager of the fund; he will be assisted by other members of the Oppenheimer growth team. Hyun had been the co-manager with Fred Alger's Spectra and Enterprise Internet funds before his new post, which he started on Monday.

Oppenheimer Enterprise will move away from its micro-cap strategy to adapt to Hyun's multi-cap approach.

See Wednesday's Fund Openings, Closings, Manager Moves.

See Monday's Fund Openings, Closings, Manager Moves.