Transamerica Asset Management Group has hired Wellington Management as the new sub-adviser of the Transamerica Equity Fund. Effective April 9, Wellington will take over portfolio management duties from Transamerica Investment Management and the fund will be renamed Transamerica WMC Diversified Growth Fund.

"We select the best manager we can for portfolio improvement and asset growth," John Carter, president and CEO of Transamerica Asset Management, in an interview.

This is the fourth fund that Wellington would be sub-advising for Transamerica,

Transamerica operates a total of 100 funds and has relationships with 35 sub-advisors. 

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