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Strong Discovery Fund Gets New Manager

Firm's founder steps aside to focus on business and private accounts.

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Dick Strong, founder and chairman of the mutual fund family that bears his name, will step down from day-to-day mutual fund management this month.

Strong will hand over the reins of his 13-year-old Strong Discovery (STDIX) fund to assistant manager Charles "Chip" Paquelet at the end of August, according to filings with the Securities and Exchange Commission.

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