From Cynthia Scott of OMC Financial Services:
Things to think about if your portfolio manager leaves or dies in a mutual fund you are invested.
- Determine how long the manager has been managing the fund during the time you have been invested in it.
- Was the portfolio manager the sole manager or was there a co-manager and how long has the co-manager been with the fund.
- Did the portfolio manager have any of his/her money invested in the fund; call and ask the mutual fund company since that information is available.
- You may not find out the reason the portfolio manager left, but you may be able to determine if they went to another mutual fund company. Was the change for more responsibility or because of a dispute with the existing company
- Will there be a cost to you if you liquidate the mutual fund?
- If the portfolio manager dies before a transition to another portfolio manager some of these questions still apply.
- Provide a length of time, perhaps 6 months, to evaluate the new manager and then make a decision.
