Diamond Hill Announces Investment Strategy Updates

COLUMBUS, Ohio, Sept. 29, 2014 /PRNewswire/ -- Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) announced the following updates to four of its existing strategies effective February 28, 2015.  As a normal part of its succession planning and resource allocation process, the company periodically reviews the resources assigned to all of its strategies.  The results of the most recent review are outlined below.

Strategic Income
John McClain, CFA will join Bill Zox as portfolio manager of the Diamond Hill Strategic Income strategy.  Mr. McClain joined Diamond Hill as a credit analyst in June 2014 and has made an immediate contribution to the strategy.  He has six years of related experience in the high yield market.  With the addition of Mr. McClain, Austin Hawley, CFA will step down as assistant portfolio manager for the strategy.

Financial Long-Short
Austin Hawley, CFA and John Loesch, CFA will join Chris Bingaman as portfolio managers of the Diamond Hill Financial Long-Short strategy.  Both Mr. Hawley and Mr. Loesch currently serve as assistant portfolio managers for the Financial Long-Short strategy.  Mr. Hawley joined Diamond Hill in August 2008 and has 15 years of investment experience.  He also serves as Co-Director of Research and Financial sector leader.  Mr. Loesch joined Diamond Hill in May 2007 and has 13 years of investment experience.    

Long-Short
Chuck Bath, CFA will move from portfolio manager to assistant portfolio manager of the Diamond Hill Long-Short strategy. Ric Dillon and Chris Bingaman will continue to serve as portfolio managers for the Long-Short strategy.  Mr. Dillon has been with the firm and the Long-Short strategy since inception and has 37 years of investment experience.  Mr. Bingaman joined Diamond Hill in March 2001 and has 24 years of investment experience.  He has been part of the Long-Short strategy since 2007.

Large Cap
Austin Hawley, CFA will replace Rick Snowdon as assistant portfolio manager of the Diamond Hill Large Cap and Large Cap Concentrated strategies.  Chuck Bath will continue to serve as portfolio manager for the Large Cap strategy.  Mr. Bath joined Diamond Hill in September 2002 and has 32 years of investment experience.   

"To fulfill our fiduciary duty to our clients, it is important that we align and add depth to our internal resources to deliver long-term value and provide adequate long-term succession plans for each investment strategy," said Chris Welch, Co-Chief Investment Officer.  "We believe these changes strengthen the resources dedicated to our strategies.   Our long-term investment philosophy and process has not and will not change.  The investment objective for each of the affected strategies is also unchanged.  We remain committed to providing investment strategies that deliver lasting value through a shared commitment to our intrinsic value-based investment philosophy, long-term perspective, disciplined approach and alignment with our clients' interests."

About Diamond Hill:
We are an independent investment management firm with significant employee ownership and $14.7 billion in assets under management as of August 31, 2014.  We provide investment management services to institutions and individuals through institutional separate accounts, mutual funds, and private investment funds.  Our entire investment team shares the same intrinsic value investment philosophy focused on absolute returns, and our interests are firmly aligned with our clients through significant investment in our strategies.  For more information visit diamond-hill.com.

SOURCE Diamond Hill Investment Group, Inc.