Hugh Denison, a former portfolio co-manager for Heartland Advisors, rejoined the Milwaukee small cap mutual fund firm's investment team Thursday to replace fund manager Gerry Sandel, who is starting his own firm.
will co-manage the Heartland Select Value Fund, which has $86 million in assets under management.
Former Select Value Fund co-manager Sandel will leave Heartland April 30 to start his
own investment firm, operating from an office in Oconomowoc.
"This is tantamount to a birth announcement for me," said Sandel, who will continue co-managing the Select Value Fund with Denison
and Eric Miller during the six-week transition period.
...David Fondrie, Heartland's former director of research, and Ted Baszler, a former private accounts manager, were promoted to co-manage the Select Value Fund with Denison and Miller.
...Denison joined Heartland's investment team in 1988.He
was one of several managers responsible for building the Heartland Value Fund, the firm's flagship fund that currently has $2.2 billion in assets.
Dension retired in 1996 from the team but remained on the firm's advisory board.From 1996-2003, he also served as a volunteer third-grade teacher at Lincoln Avenue, Marva Collins and Golda Meir elementary schools in Milwaukee. Denison
was one of several current and former executives named in civil charges filed by the U.S. Securities and Exchange Commission
in December alleging fraudulent pricing and insider trading practices against Heartland Advisors.The firm currently is fighting those charges.