star portfolio manager Hassan Elmasry
is leaving the company at the end of April to put up his own money management firm in London, a Morgan Stanley spokeswoman confirmed to The MFWire
. Elmasry's decision was first reported by Ryan
Leggio in Morningstar's Fund Times column
Elmasry and his team manage Van Kampen Global Franchise
and its "clone" at Morgan Stanley, Van Kampen Global Value
and its clone, and Van Kampen American Franchise
Morgan Stanley spokeswoman Erica Platt told The MFWire
that the firm is "currently working on a management structure that will continue to support the portfolios' ongoing success."
Elmasry, who joined Morgan Stanley in 1995, is also at the helm of similar funds domiciled in the U.K., Australia and Luxembourg.
In his column, Morningstar's Leggio hailed Elmasry as "one of the best managers in his field," adding that his departure "will be a blow to the funds and the firm." It was not immediately known whether his team members intend to follow him to his new firm.
Elmasry is perhaps best-known for his efforts to bring about changes at New York Times Co., as detailed in a March 2007 Wall Street Journal
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