Komal S. Sri-Kumar is stepping down from his role as chief global strategist at TCW Group and starting his own consulting firm, Peter Viles, TCW spokesman, said Friday.
However, Mr. Sri-Kumar has signed a three-year agreement with TCW to continue to serve as a portfolio manager on the $700 million TCW Comprehensive Asset Allocation Strategy and the $16.1 million TCW Global Conservative Allocation fund, a retail mutual fund, Mr. Viles said.
Mr. Sri-Kumar was unavailable for comment.
Two other mutual funds for which Mr. Sri-Kumar served as a portfolio manager — the TCW Global Flexible Allocation Fund and the TCW Global Moderate Allocation Fund — are being liquidated, according to a Dec. 18 notice on the TCW website. The liquidation will take place on or about Feb. 18, according to the notice.
No reason was given for the liquidation, but the two funds combined had only $10 million in assets under management as of Dec. 20, according to information published on the TCW website.