MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, July 11, 2012 USAA Drops Batterymarch, Hires Two 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. Printed from: MFWire.com/story.asp?s=40583 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |