USAA [profile] 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.

MFWire'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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