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Fund Manager Change

Lawlar
in Fund Discussions
I've been thrilled that a very small fund I invested in took off like a rocket when it acquired a new fund manager (Minyoung Sohn) a few years ago. The fund is up 81% over the last 3 years, and has frequently been the no. 1 performing fund in its category (per Barron's). I had visions of having found the next Peter Lynch--my fortune was just a few years away. And now I read on MFO that the manager has left. Bummer! So frustrating! And the new manager who will be the replacement does not appear to have any experience managing a fund on his own. The fund is MEIFX (Meridian Enhanced Equity Fund). The fund management doesn't provide a lot of detailed information on their operations (at least in the past) so I really have no idea what to expect in the future. Very frustrating!!!

Comments

  • TedTed
    edited September 2019
    @Lawlar: I suggest you hold MEIFX for at least six months and see what the new manager, Clay Freeman. can do. Here is his bio from the Meridian Web Site.
    Regards,
    Ted
    Portfolio Manager

    Clay is a Portfolio Manager for Meridian Enhanced Equity Fund and leads the risk management strategies and idea generation for ArrowMark’s multi-asset investment strategy. Clay joined ArrowMark in 2008 as an Investment Analyst and has supported the firm’s long-only equity and multi-asset strategies during his tenure. Prior to joining ArrowMark, Clay worked as a research associate at Janus Capital Group (2006-2008), where he focused primarily on the communications industry. Prior to that position, Clay worked as an Information Program Coordinator for the educational, non-profit organization Leave No Trace, which is dedicated to worldwide responsible enjoyment and active stewardship of the outdoors by all people (2001-2004). Clay graduated Phi Beta Kappa from the University of Colorado and earned an MBA with a Finance concentration from the Daniels College of Business at Denver University.
    Funds Managed
    Fund
    Meridian Enhanced Equity Fund*

    *Effective September 3, 2019, Clay Freeman serves the sole Portfolio Manager of the Meridian Enhanced Equity Fund.
    MEIFX Overview:
    http://meridianfund.com/strategies/meridian-equity-income-fund/overview/
  • Lawlar
    Good idea. I’ve owned the fund since it’s inception, so I’ll hold on and hope for the best.
  • StarchildStarchild
    Certainly took some chances that paid off. Good for you.
  • BenWPBenWP
    I think Meridian has some other ex-Janus managers. There was a wholesale turnover at the firm after the sudden death of the founder, Rick Astor (around 2009, I think).
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