A Davis New York Fund Co-Manager is Leaving
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Thursday, December 19, 2013

A Davis New York Fund Co-Manager is Leaving

Another constellation of investment management stars is changing.

Davis Advisors Kenneth Feinberg, the co-manager of the $20.5 billion Davis New York Venture Fund (NYVTX) and the $5.9 billion Selected American Shares fund (SLASX) will leave at the end of this year, reports Bloomberg and VCPost.

Bloomberg reports Feinberg co-managed the two funds with Christopher Davis, chairman of Davis Advisors. They both shared the Davis and Feinberg shared Morningstar Inc.ís award for best U.S. stock mutual-fund manager in 2005. The Davis New York Venture fund has advanced 15 percent annually over the past five years, ahead of 52 percent of rivals, according to data compiled by Bloomberg.

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