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Hedge fund names healthcare specialist president
FWR Staff
10 June 2008
Palo Alto Investors partner Yun to take on more executive responsibilities. Hedge-fund manager Palo Alto Investors (PAI) has a new president in Joon Yun, a long-time partner of the firm and a resident expert on investing in the healthcare sector. As a result of the move, Yun will be assuming some of the managerial responsibilities of PAI's founder William Edwards, who will continue as the firm's CEO and chairman of its board.
Perform and innovate "This promotion is an acknowledgement of Dr. Yun's remarkable contribution to our overall success, and of his equally remarkable leadership abilities and tactical innovations, which have made us a leader in the industry," says Edwards. "This transition enhances the leadership team, makes the firm organizationally more effective, and positions us to achieve our goal of delivering sustained high returns."
Yun will continue to co-manage Palo Alto's Healthcare Funds with healthcare analyst Patrick Lee.
A physician by training, Yun joined Palo Alto Investors in 1998. Before that, he was a member of the clinical faculty in the Department of Radiology at Stanford, Calif.-based Stanford University.
"We have an exceptionally strong client base and a 19-year track record that we believe places us in the top tier of all U.S. equity-investment managers," says Yun. "My goal is to continue to perform and innovate in ways that will allow us to continue to serve our clients."
Palo Alto, Calif.-based PAI has 22 professionals on staff and manages more than $1.5 billion in assets. -FWR
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