Ticker Talk

Frank “Quint” Slattery, the top-performing U.S. mutual fund manager during the last year, quit Pilgrim Baxter & Associates on Tuesday. The 27-year-old Slattery, who managed PBHG New Opportunities since its February 1999 inception and PBHG Select Equity for five months, will be replaced by a group led by Chief Investment Officer Gary Pilgrim. “It is a blow to them,” said Russel Kinnel of fund tracker Morningstar Inc. “They’ve lost a number of their top managers, and they aren’t that big.” New Opportunities returned 415% in the last 12 months, ranking No. 1 among 5,855 U.S. stock funds tracked by Bloomberg News. Select Equity ranked No. 5, returning 207%. . . . Stockjungle.com Inc., the Culver City-based mutual fund company whose novel Community Intelligence Fund uses input from its “online community” in managing the portfolio, said its Pure Play Internet and Market Leaders Growth funds will have access to the same information. . . . Warburg Dillon Read shelved one initial public offering Tuesday and cut the value of two others as demand for new biotech and drug issues remained shaky. Drugabuse Sciences Inc. put off its $60-million IPO indefinitely, Rigel Pharmaceuticals Inc. cut its deal to $90 million from as much as $108 million, and Adolor Inc. cut its offering to $60 million from as much as $84 million.