Kimberly Campbell, portfolio manager of the Columbia Managed Municipals Fund and the Columbia Tax-Exempt Fund, and Kurt Havnaer, who heads up the Columbia High-Yield Fund, are both back on the job, even as their co-worker Christopher Legallet, who went on leave at the same time as them, remains out of the office, Dow Jones reports.

Legallet was either the portfolio manager or co-portfolio manager of at least four Columbia international funds, including the Columbia International Equity, Columbia Newport Asia Pacific, Columbia Newport Greater China and Columbia Newport Tiger funds.

Last month, Columbia Funds, the FleetBoston unit prior to its merger with Bank of America, was part of the two firms’ $675 million settlement with regulators for improper fund trades.

A company spokesman would not comment specifically why the three were put on leave, only to say that it was related to the market timing probe and after an internal review, Columbia was "comfortable" to have Campbell and Havnaer back in place.

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