Amerindo Funds hired Munder Capital Management to manage the Amerindo Technology Fund, said Jacqueline Condie, a Munder Capital spokeswoman. John Salak, a spokesman for Amerindo, did not return a call by press time seeking comment. Munder Capital will assume day-to-day management of the fund immediately. A team of managers, including Kenneth Smith, Munder Capital's director of technology investing, and Tom Wald, a senior portfolio manager, will advise the fund. Alberto Vilar and Gary Tanaka, co-founders of the fund's previous manager, Amerindo Investment Advisors, were removed from their duties as CEO and president, respectively, after being charged with fraud in late May.
Munder Capital has $36.7 billion in assets under management.