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Watch the Fund Manager Shuffle

AIM, Fidelity and Evergreen are among funds changing managers.
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It's always important to keep a close watch on the fundamentals and performance of any of your mutual funds. But it's also important to know about the wizard behind the curtain pulling on the strings and running your investment.

That's why we're monitoring the manager changes going on at the mutual funds we track. Below is a list of the changes that took place during March.

AIM Investments

Larry H. Sachnowitz took over as manager of

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AIM Technology Fund (ITYAX) and


AIM Multi-Sector Fund (IAMSX). Sachnowitz has worked at AIM for two decades as a research analyst, portfolio manager and head of equity trading. He replaced Michelle Espelien Fenton after she departed the firm.

At the end of the month, AIM named four new managers to its


Libor Alpha Fund (IAESX): Brian Caldwell, Jennifer L. Gilmore, Brian P. Norris and J. Greg Wessel. All four previously worked as account managers, bridging the communications between Invescoand its clients. (Like AIM Management Group, Invesco is a subsidiary of parent company Amvescap.)

Caldwell joined Invesco's fixed income group in 1998 after starting his career monitoring portfolio activity for AIM Management in 1995. Gilmore also came from Invesco's fixed income department, having served there since 1999 preparing portfolio reviews and handling client communications. Norris joined Invesco in March 2001 and has worked in the fixed income division as well as performed oversight and evaluation of the firm's external investment managers. Wessel previously worked as a portfolio liaison between Invesco and its clients, having joined the firm's fixed income group in 1995.

Evergreen Investments

On March 1, Andrew Cestone became co-manager of the


Evergreen Diversified Bond Fund (EKDLX) and


Evergreen Select High Yield Bond Fund (EHYIX). Cestone is a managing director for Evergreen's Tattersall Advisory Group affiliate, and he succeeded Gary Pzegeo at both funds.


On March 1, Fidelity selected Stephen DuFour as sole manager of its

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Focused Stock Fund (FTQGX). DuFour, who joined Fidelity as an equity research analyst in 1992, succeeded Robert Haber.

Gavin Baker was selected as portfolio manager of

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Fidelity Select Wireless Portfolio (FWRLX),

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Fidelity Select Telecommunications Portfolio (FSTCX) and

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Fidelity Advisor Telecommunications Fund (FTUAX). Baker has experience as an analyst of industries including building materials, semiconductors, utilities and pharmaceuticals at Fidelity since 1999.

Fidelity chose Stavros Koutsantonis to manage its

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Select Environmental Portfolio (FSLEX), succeeding Douglas Simmons. Vincent Montemaggiore became manager of Fidelity Select Industrial Equipment Portfolio


Select Industrial Equipment (FSCGX).

Franklin Resources

Franklin named Grant Bowers lead portfolio manager of its

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Aggressive Growth Fund (FGRAX). Also the manager of its


Global Communications Fund (FRGUX), Bowers has called Franklin home since 1993.

Legg Mason


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Legg Mason Partners Financial Services Fund acquired the Legg Mason Financial Services Fund in mid-March, installing Amy LaGuardia as manager. LaGuardia, who had been manager of the acquired fund, serves as senior vice president of Barrett Associates; she started working in the investment industry in 1984.


Nuveen began March by naming Daniel J. Close as manager of the


Nuveen Florida Municipal Bond Fund. Close joined Nuveen in 2000 to oversee and develop the firm's mutual fund products before becoming a research analyst for its municipal investment department.

T. Rowe Price

T. Rowe Price revealed that Jeffrey W. Arricale, a portfolio manager in its equity department, would succeed Michael W. Holton as manager of the

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T. Rowe Price Financial Services Fund, after Holton announced plans to leave the firm. Arricale serves as co-manager of T. Rowe Price's investment advisory committee and has worked there since January 2001.

Other Moves

American Century added Seth B. Plunkett to the management team of its

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Inflation-Adjusted Bond Fund (AIAVX). Plunkett has worked at American Century since 1999, serving as a portfolio trading associate and fixed-income trader

Calvert Funds selected Bridgeway Capital Management as subadviser for its


New Vision Small Cap Fund (CNVBX), a specialty firm focused on managing small-company equity portfolios. Bridgeway is headed by John N.R. Montgomery.

Eaton Vance selected Christopher Darling in late March to manage the firm's

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Greater India Fund (ETGIX). Darling, a Hong Kong-based manager for fund adviser Lloyd George Management, worked with Fox-Pitt, Kelton Ltd., a boutique investor specializing in Asian and Japanese investments, prior to joining Lloyd George in 2006.

Randall Parrish became sole manager of the

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ING High Yield Bond on March 1 (IHYAX). He joined ING in 2001.

Touchstone named Paul Matlack and Andrew Toburen to succeed Roger Early and Craig Dembek as co-portfolio managers of the firm's Ultra-Short Duration Fund and Short Duration Fixed Income Fund. Both work for fund subadviser Chartwell Investment Partners. Prior to joining Chartwell in June 1999, Toburen was an analyst for Nomura Corporate Research & Asset Management. Matlack came to Chartwell in September 2003 from a prior portfolio management position at Turner Investment Partners.