Deanna Loughnane has left Morgan Stanley Investment Management in West Conshohocken, Pa., where she was a senior high-yield portfolio manager sharing responsibility for an estimated $5 billion junk portfolio, according to a sell-side salesman who covers the account. The reason for Loughnane's departure could not be determined and she could not be reached. The firm is looking for a replacement, according to the sell-sider. Calls to Gordon Loery, executive director and lead high-yield portfolio manager, were not returned.
The largest of the funds co-managed by Loughnane for which performance data could be determined, was the $647 million Van Kampen High Income Corporate Bond Fund. The fund, which she had co-managed since July 2001, returned -9.42% in 2002 and 13.24% year to date in 2003, according to Bloomberg data.