Gary Herbert, Brian Kloss join Dreman Value Management

By Paul Deckelman

New York, March 17 - Veteran fixed-income professionals Gary Herbert and Brian Kloss have joined Dreman Value Management, LLC, where they will manage more than $2 billion in high yield and distressed-debt and equity investments. Each has more than 10 years of experience in the field.

Herbert joins Dreman as a managing director and portfolio manager, and comes to the firm from Morgan Stanley, where he was the executive director of the company's Investment Management Group, as well as a portfolio manager and analyst.

Kloss joins Dreman as an assistant portfolio manager, and formerly worked for Gartmore Global Investments and Penn Capital Management. His research background includes such areas as healthcare, chemicals, automotive, gaming and energy.

Dreman Value Management, based in Jersey City, N.J., manages some $18 billion of assets, mostly equity, for institutional, sub-advisory, separately managed and high-net-worth clients. Following founder David Dreman's philosophy of "contrarian value investing," it focuses on undervalued companies that exhibit strong fundamentals, above-market dividend yields and historic earnings growth.

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