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Rating:FAF Makes Sub-Advisor Switch Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 09, 2008

FAF Makes Sub-Advisor Switch

Reported by Erin Kello

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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