Roland Nick Whitridge retired as manager of the $1.3 billion Babson Value Fund, which he has managed since its inception in 1984. Mr. Whitridge is retiring for health reasons. Tony Maramarco, senior vice president, is replacing Mr. Whitridge as the funds manager. Mr. Maramarco also will replace Mr. Whitridge in managing the value components of the Babson Shadow Stock Fund. Catherine Ryan will continue to assist with management of the fund. Lance James, who also helped manage the Shadow Stock Fund, will now concentrate on managing the two small-cap funds he also oversees.