While much of the fund industry was packing for late-August vacations last week, a raft of portfolio managers at Deutsche's Scudder Investments were packing up their offices for good. No fewer than three Scudder funds saw their portfolio management teams turn over last week.

On Friday, William Holzer stepped down as portfolio manager of the $788 million Scudder Global Fund as resigned from Scudder. He was replaced by Steve Wreford and Oliver Kratz. The fund also lists Nick Bratt and Peter Crays as members of its portfolio management team.

The day before, Scudder said that Jonathan Wild had replaced Stephen Scott as the co-manager of the $1.4 billion Scudder Technology Fund. Wild joins Anne Meisner on that fund's team. Scott also stepped down from the helm of the $184 million Technology Innovation fund. Stephen Scott is remaining a Scudder employee, but his is leaving the United States to work as an analyst and portfolio manager in Australia. He is making the move personal reasons.

On Tuesday, Kathleen Millard left the $4.8 billion Scudder Growth & Income Fund to pursue opportunities outside of the firm. To co-managers of the fund -- Gregory Adams and Andrew Brudenell -- will continue to run it with Adams taking the lead portfolio manager slot.  

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