MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 7, 2001 Diversified Assigns $750 Million Retirement plan specialist Diversified Investment Advisors has added three subadvisors to its roster. The firms join existing subadvisors for the Diversified Growth & Income Fund and the Diversified Special Equity Fund. "We've achieved outstanding success using the multi-manager approach in other funds and we expect it to benefit investors in this Fund as well," said Tom Schlossberg, Diversified's president and chief executive officer. Aeltus Investment Management and Credit Suisse Asset Management will both take mandates as subadvisors on the $450 million Growth & Income Fund. The two firms replace Putnam Investments which had been subadvisor since November 1995. Aeltus will serve as the "structured" core manager of the fund. In that role its mission will be to control volatility from the fund's benchmark. Credit Suisse will serve as an active core manager, aiming at producing alpha. The fund has been lagging those in its peer group in recent periods, according to data provided by Morningstar. The rating firm has dropped it from five to three stars. Meanwhile, INVESCO will act as co-manager of the $337 million Special Equity Fund. The fund already offers four other sub-advisors: Goldman Sachs Asset Management; Husic Capital Management; RS Investment Management and Westport Asset Management. Each sub-advisor will manage approximately 20% of total fund assets. INVESCO was added as a structured small cap core manager to bring an added layer of risk control to the fund's portfolio. Printed from: MFWire.com/story.asp?s=26832 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |