Monument Internet Fund Loses Manager Cheung to Start-Up

Alex Cheung, manager of last year's top-performing Internet fund, (MFITX Quote)Monument Internet, is leaving to join a money-management start-up.

Although no announcement has come from Monument, Long Bow Associates of King of Prussia, Pa., issued a press release Monday afternoon characterizing Cheung as a founder of the firm.

Reached Monday afternoon on his cell phone, Cheung said he gave notice at Monument last week, citing "higher aspirations." He added that he probably won't sub-advise his old fund while at his new firm. ...