Oak Value Fund, an $85 million mutual fund run out of Chapel Hill, has a new name and new owner.

In June, Oak Value Capital Management announced that it had agreed to be bought for an undisclosed amount by RS Investments, a San Francisco-based firm.

Today the companies announced that the Oak Value Fund, which is listed under the ticker symbol "OAKVX," has been renamed the RS Capital Appreciation Fund, and will trade under the symbol "RCAPX."

Oak Value will keep its Chapel Hill offices, and portfolio managers Larry D. Coats Jr., Christy L. Phillips and David R. Carr Jr., have joined RS Investments.

The stock-picking pros who run the Oak Value Fund out of Chapel Hill got a nice plug in the latest issue of Barron's.

The profile emphasizes how the team led by three co-managers -- Larry Coats, David Carr and Christy Phillips -- spends a great amount of time "fishing" for the right publicly traded companies to find the best values. The story points out that the strategy has paid off, with Oak Value up 19 percent this year. That's better than its peer group of mutual funds.

The Barron's story returns several times to the fishing metaphor (headline: "Angling for Returns"), and mentions that Coats is an avid fisherman. The magazine even ran a photo of Coats casting in a bucolic stream.

One minor issue: Coats is an avid salt-water fly fisherman who usually fishes at the coast. But Barron's "was too cheap to send a photographer all the way down there," Coats said in a phone interview this week. "They asked me if we could find water closer, so we shot over by Jordan Lake."