Morningstar announced its 2005 Fund Managers of the Year on Wednesday, honoring the managers of four funds not just for their performance, but for demonstrating good governance by investing their own money in their funds, cutting fees and working to keep transaction costs and taxes low.

Tying as Domestic Stock Fund Managers of the Year were Christopher Davis and and Ken Charles Feinberg of the Selected American Shares and Davis New York Venture funds. Morningstar's pick for International Stock Fund Managers of the year were Robert Lyon, Matthew Pickering and Jerrold Senser of the ICAP International Fund. Finally, the four portfolio managers of the Metropolitan West Total Return Bond Fund were named the Fixed Income Fund Managers of the Year. They are: Tad Rivelle, Laird Landmann, Stephen Kane and David Lippman.

"This year's winners are longtime Morningstar favorites," said Kunal Kapoor, director of mutual fund analysis for Morningstar. "We've recommended these managers for years, and they have long been on the Morningstar Analyst Picks list."

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