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Witney George preparing to hand off another fund at Royce?

ShostakovichShostakovich
edited October 2012 in Fund Discussions
Looks like Chip Skinner has been recently added as a co-manager to the Royce Low Priced Stock fund. I find this interesting because Chip was added as a co-manager, before morphing into full manager of Royce Value Plus (RYVPX), after which it kind of, um, tanked.

But its all a casualty of Royce's Jonesing for AUM...can't keep putting star investor Whitney George out there all the time on all those new funds w/out handing the reigns of the old friends like Royce Low Priced off to someone else.

Fiduciary, responsibility, my friends.

Comments

  • VintageFreakVintageFreak
    I look at it differently. You put Whitney George as manager for every new fund, then give it to another skipper later. Some part of Legg Mason has to rub off...

    I predict Royce goes the Janus way.
  • ShostakovichShostakovich
    Reply to @VintageFreak: I was being ironic. Yeah, I think, Chuck's bow ties and cashmere sweaters aside, Royce is going the Janus way.

    M* still eats them up, however.

    Buzz Zaino has a fund that can really take off in up markets (but also tank hard in down markets). You wait, if this market has legs and Royce Opportunity heads north, LM/Royce will force Buzz to create a copy cat of his fund, like they did with Dreifus.

  • VintageFreakVintageFreak
    Reply to @Shostakovich: Isn't that a pattern? Morningstar will ride Royce into the dust. Just wait till Royce leaves. They will probably rename company to something like Uranus funds. That'll be the sign.
  • VintageFreakVintageFreak
    edited October 2012
    I'm not sure what good news Royce is hearing from companies. Lately all companies seem to be reporting earnings below estimates. I guess we don't know what time of the year Royce was interviewed.

    I think we are just slaves to what's reported in the media. Einhorn shorts CMG, mouths off, all his cronies also short CMG, stock tanks, Einhorn makes tremendous profit in just one day and exits his short position. What a !@#$%^&* business.

    Simply too much financial Pron out there. I don't believe anyone anymore.

    PS, sorry replied on wrong thread. Meant to comment on this.
    http://www.investmentnews.com/article/20121002/BLOG06/121009988?template=printart
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