WM Advisors Inc., the asset management arm of the Seattle-based thrift company Washington Mutual Inc., recently appointed Randall L. Yoakum as chief investment officer and senior portfolio manager for its mutual fund family.
In the newly created position, Mr. Yoakum, 40, is responsible for equity and fixed-income investments of the WM Group of Funds. He reports to William G. Papesh, the president of WM Advisors.
Mr. Yoakum was previously chairman of the investment committee of WM Advisors and senior portfolio manager for the WM Growth and Income Fund.
The chief investment officer position was created in response to growth in both assets under management and the number of funds, Mr. Papesh said. The WM Group of Funds picked up the assets of two fund families in the past two years after acquisitions by its parent.
Assets under management have increased to $7.8 billion, from $1.8 billion at the end of 1997. The fund family comprises 18 portfolios.