Hedge Fund Founder Returns To Mutual Fund Fold

Feb 20 2009 | 1:01am ET

Hedge fund manager David Glancy has joined mutual fund firm Putnam Investments.

Glancy has closed his hedge fund, Andover Capital Advisors. At Putnam, he will serve as managing director and portfolio manager, and has brought four analysts with him.

Glancy is no stranger to the mutual fund world, as a one-time star trader for Fidelity Investments.

“This is familiar territory for David,” Putnam CEO Robert Reynolds said. “He is a master at uncovering diamonds in the rough and has a strong record of generating superior returns for clients.”

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