Top-Performing PBHG New Opportunities Fund Is Losing Its Manager

Frank "Quint" Slattery, whose (PBNOX Quote)PBHG New Opportunities is the top-returning mutual fund of the past 12 months, is leaving Wayne, Pa.-based PBHG.

The 27-year-old portfolio manager declined to comment on his future plans when reached late Monday. There has been a rash of departures lately by technology fund portfolio managers. Many of them left to go to hedge funds where the potential financial rewards are greater.

Slattery joined PBHG a little more than two years ago as an analyst. ...