RS Funds Replaces a Longtime Manager

Ron Elijah’s long tenure as manager of RS Value + Growth and RS Information Age funds has ended.

San Francisco-based RS Funds said late Thursday that Elijah and co-manager Rod Berry, who was a sub-advisor of the funds under a contract that expired Tuesday, have been replaced by in-house managers.

Jim Callinan, who runs several other funds including RS Internet Age, will manage the $143-million Information Age with Steve Bishop. John Wallace, manager of RS Diversified Growth, will lead a team running the $382-million Value + Growth.

“The change is a good one for investors,” said Morningstar analyst Christopher Traulsen, adding that Elijah, who ran Value + Growth since 1992 and Information Age since 1995, built a stellar record in the early to mid-1990s but has fallen back in the last five years.

Information Age, a technology sector fund, was down 21.8% year to date through Thursday, ranking in the top 26% of its peer group, according to Morningstar. Value + Growth was down 16.4%, landing in the bottom 9% of its large-cap blend category.