Guggenheim Portfolio Manager Michal Resigns After Investigation

(Bloomberg) -- James Michal, a managing director at Guggenheim Investments, resigned after an investigation at the firm regarding his behavior unrelated to his duties as a portfolio manager, according to a statement to employees on Monday that was seen by Bloomberg.

Michal, 35, was on a medical leave, the company said last week. Guggenheim didn’t disclose details of the investigation or his alleged conduct.

Guggenheim Investments, a unit of Guggenheim Partners headed by Scott Minerd, oversaw about $250 billion in assets as of Dec. 31.

Michal was a co-manager of Guggenheim’s largest mutual funds, including the $9.26 billion Total Return Bond, $6.66 billion Macro Opportunities and $3.55 billion Floating Rate Strategies funds, according to a prospectus filed Feb. 5.

Michal couldn’t immediately be reached for comment. He didn’t reply to phone and email messages left last week and Monday.

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