Don Yacktman Passes the Torch to His Son
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Tuesday, August 06, 2013

Don Yacktman Passes the Torch to His Son

The circle of life continues in the mutual fund industry.

Morningstar noted some major firm personnel changes this week.

Stephen Yacktman, the son of Don Yacktman, has taken over as CIO of Yacktman Asset Management [profile] , Morningstar writes. The elder Yacktman will continue working at the firm and will contribute ideas to as PM team member. Don Yacktman managed Selected American Shares for 10 years before founding the firm.

Co-manager of Putnam Investments [profile] US Government Income fund and the Putnam Income fund, Daniel Choquette, left the firm, Morningstar writes. He co-managed the funds since 2005 and had worked as manager since 2011. Michael Salm, co-head of the fixed-income group, will stay on as lead manager of Putnam US Government Income and Putnam American Government Income, Morningstar reports.

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