has added six new portfolios to its separately managed account program. The new portfolios will become part of the wirehouse's Fiduciary Services
platform. The platform currently holds $211 billion in assets for nearly 665,000 accounts worldwide, according to Smith Barney.
, the Consulting Group's chief investment officer, said that the changes are part of a continual search for investment management firms that "have successfully demonstrated a commitment to their investment process and delivered real performance over time."
He added that the bear market has put pressure on the investment industry, resulting in an unusual rate of portfolio management changes and consolidation.
The new portfolios are: Advanced Investment Partners
All-Cap Core Equity, Cambiar Investors
Large-Cap Value Equity, Kayne Anderson Rudnick
Small-Cap Sustainable Growth Equity, MDT Advisors Optimum
Q All-Cap Core Equity, Philadelphia International Advisors
International Equity American and Roxbury Capital Management
Small-Cap Growth Equity.
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