Well, the new manager sounds very, very good from what I'm hearing(he did very well managing the Media and Telecommunications Fund). Heh, who knows, the new manager might be even better than Smith? I moved a bunch of money from Dodge and Cox Stock Fund(DODGX) into this fund because DODGX has gotten too big and the market is going to favor growth over value for the next few years at least. Going forward it is going to be a "Stock Pickers" type of market where the key is to find the relatively few strong Co's that can best weather economic turbulence, and having less money in a fund allows managers to operate more efficiently in that type of market.