Wasatch Advisors has appointed David R Powers as lead portfolio manager of the Wasatch Large Cap Value Fund.
The fund is currently managed by lead portfolio manager Ralph Shive and portfolio manager Michael Shinnick. To assist Powers in the transition of portfolio management duties, Shive will remain as a portfolio manager of the fund until 30 September 2013.
Shinnick will continue as lead portfolio manager of the Wasatch Long/Short Fund. Shive will continue as a portfolio manager of the Long/Short Fund and will support Wasatch Advisors with macroeconomic and sector research.
Powers (pictured) has 18 years of investment experience, most recently as a portfolio manager with Eagle Asset Management. Prior to joining Eagle, he worked as a portfolio manager with ING Investment Management, where he was responsible for the ING Large Cap Value Fund. While at ING, Powers also worked as a senior sector analyst covering energy, telecommunications, utilities and materials. His experience includes several senior investment positions, including as a portfolio manager with Federated Investors. Powers began his investment career at the State Teachers Retirement System of Ohio.
“Dave brings a proven track record in large cap value investing to Wasatch,” says Jeff Cardon, chief executive officer of Wasatch Advisors. “He will add depth to an important part of our investment capability. Dave’s intensive fundamental research process is a perfect fit with our investment culture, and reflects our commitment to delivering long-term results for Wasatch’s mutual fund shareholders and clients.”
