Frank "Quint" Slattery is leaving Pilgrim Baxter Associates of Wayne, Pa., and his post as fund manager to the PBHG Select Equity Fund and the PBHG New Opportunities Fund to "pursue other opportunities," the company announced earlier this week. A team of portfolio managers headed by Gary Pilgrim, chief investment officer, will manage both funds.

Slattery began managing the PBHG Select Equity Fund last November and managed the PBHG New Opportunities Fund since it was introduced in February 1999. The Select Equity Fund had a 160 percent return last year, according to Morningstar of Chicago, a fund rating service.

The company declined to comment on Slattery's future plans. However, The Wall Street Journal reported that Slattery is leaving to start a venture-capital and investment-management firm.

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