James Michal, a Guggenheim Investments portfolio manager, has resigned from the firm following an investigation into his behavior, the Wall Street Journal reports.
Last week it was reported that Michal had taken a medical leave of absence and stepped away from managing the $9.3 billion Guggenheim Total Return Bond fund.
However, it has now been reported that he has resigned from the firm with immediate effect.
The WSJ cited a memo sent to Guggenheim Investments employees by Anne Walsh, the firm's chief investment officer for fixed income, which said the issue 'regarding his deportment was not related to his duties as a portfolio manager.'
To read the full WSJ story, click here.
The Total Return Bond Fund is managed by a team of portfolio managers consisting of global chief investment officer Scott Minerd, Walsh, Adam Bloch and Steven H. Brown.
Michal was also named on the $323.7 million Wilshire Income Opportunities fund, $2.8 billion Guggenheim Limited Duration fund, $400.7 million Guggenheim Investment Grade Bond fund, $3.6 billion Guggenheim Floating Rate Strategies fund and $ 6.7 billion Guggenheim Macro Opportunities fund.