WSJ: Van Wagoner Manager Stepping Down

Aug 4 (Reuters) – Van Wagoner Emerging Growth's longtime manager Garrett Van Wagoner is planning to step down even though he controls the company that sponsors the fund, Wall Street Journal said.

Specializing in small-growth stocks, many of them tech firms, Van Wagoner Emerging Growth has clocked an annualized 10.2 percent loss for the past 10 years.

Wagoner started Van Wagoner Capital Management in 1995, which sponsors the fund, and regularly appeared on CNBC during the technology-stock bubble, the Journal said.

The fund's board has proposed a new subadviser, Husic Capital Management, to run it.

Van Wagoner could not be reached immediately for comment. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Paul Bolding)