] brass has decided to terminate the contract of one subadvisor on its $1.1 billion Small Cap Stock Fund
and bring on two new ones. The change was effective as of close of business Tuesday. [SEC filing
Boston-based institutional money manager Batterymarch Financial Management
is the unlucky subadvisor.
Meanwhile, the lucky two subadvisors hired for the mandate are Denver-based Cambiar Investors
and Granahan Investment Management
, based in Waltham, Massachusets.
Boston-based Wellington Management
will stay on as a subadvisor to the fund.
's calls to USAA and Batterymarch were not returned by press time. Both Cambiar and Granahan declined to comment.
The three-star-rated USAA Small Cap Stock Fund has approximately $1.1 billion in AUM, according to Morningstar's most recent data
. The filing did not describe how the two new subadvisors would split the assets.
Cambiar's three-PM team on this fund will be led by company president Brian Barish
. Gary Hatton
and Jane White
, Granahan's co-founders and its CIO and CEO, respectively, will head up Granahan's portion of the management team.
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