FPA Paramount Fund Inc. Reports the Election of Eric S. Ende as President, Portfolio Manager and Director, and Steven R. Geist as Executive Vice President and Portfolio Manager.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 31, 2000 FPA 1. (hardware) FPA - floating-point accelerator. 2. (programming) FPA - Function Point Analysis. Paramount Fund Inc. (FPRAX) reported that the fund's Board of Directors elected Eric S. Ende as president, portfolio manager and director of the fund, and Steven R. Geist as executive vice president and portfolio manager. Ende and Geist succeed William M. Sams as portfolio managers for the fund. Sams, the president and portfolio manager of the fund for the past 19 years, is retiring from his positions. "For the past three years the performance of FPA Paramount Fund has not been satisfactory and I take full responsibility for it," said Sams. "The Board of Directors of the fund has given me adequate opportunity to turn things around and it is now time to turn the management of the fund over to Eric and Steve. They have done a great job with FPA Perennial and I'm sure they will do a great job with FPA Paramount." "Bill's contrarian value style, which worked so well for so long, has suffered in the last few years during one of the longest uninterrupted growth cycles in history," said Julio J. de Puzo Jr., executive vice president of the fund. "He is still considered by many as one of the great investment managers of our time." Ende has served as vice president of the fund and senior research analyst and portfolio manager of the fund's investment adviser for the past 15 years. Ende holds a bachelor's degree from Yale College
Yale College was the official name of Yale University from 1718 to 1887. , a master's degree master's degree n. An academic degree conferred by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree. Noun 1. from Oxford University and a master of business administration degree from New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the . Geist has served as senior research analyst and portfolio manager of the fund's investment adviser for the past eight years. Geist holds a bachelor's degree from New York University, a master's degree from Purdue University and a master of business administration from the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at Los Angeles. FPA Paramount Fund Inc. is a Los Angeles-based open-end investment company open-end investment company: see mutual fund. managed by First Pacific Advisors Inc., an indirect wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of United Asset Management Corp. |
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