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Marsico Loses Key Portfolio Manager

Jim Hillary is leaving to start his own investment-management firm.

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On April 30, 2004, Marsico Capital Management, the advisor to Marsico Funds, will lose one of its four portfolio managers.

Jim Hillary, who has been with Marsico Capital Management since it was founded in 1997, will leave the firm to start his own investment-management company. Since February 2003, Hillary has comanaged  Marsico Focus (MFOCX) and  Marsico Growth (MGRIX) with fund-company founder and veteran portfolio manager Tom Marsico. Before that, Hillary had run  Marsico 21st Century (MXXIX), a large-growth fund that invested heavily in mid-cap stocks, since its June 2000 inception.

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Bridget B. Hughes does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.