First American Funds
has two new sub-advisors for its International Fund
. Altrinsic Global Advisors
and Hansberger Global Investors
will be taking over management of the fund from J.P. Morgan Investment Management
, according to an SEC filing
. The move will be voted on by shareholders September 18.
The International fund's board of directors also recommended that the fund's shareholders approve a "manager-of-managers" structure for the fund. This will allow First American to "engage sub-advisors and materially amend sub-advisory agreements" with approval from the board of directors only.
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