Haven Fund directors hired Tocqueville Asset Management to run the $80 million mutual fund, replacing Haven Capital Management. Colin Ferenbach, the funds manager, left Haven and joined Tocqueville in February as managing director and portfolio manager. Mr. Ferenbach will continue to manage the fund using the same midcap GARP style, said Robert W. Kleinschmidt, Tocqueville president and CIO.
A replacement is being sought for Mr. Ferenbach, said Maureen Gibson, Haven Capital manager-marketing and administration. Staff temporarily assumed management of Mr. Ferenbachs institutional separate accounts.