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, November 20, 2012 USAA Terminates Two Subadvisors to Boost In-House Equity Management USAA Asset Management Company has dropped two subadvisors from a $1.2 billion fund as part of a commitment to enhancing its in-house equity equity management team, an SEC filing revealed today. USAA terminated subadvisory contracts with Loomis Sayles and UBS Global Asset Management, leaving Wellington and Barrow, Hanley, Mewhinney & Strauss as the two subadvisors on the USAA Growth & Income Fund. USAA will add three in-house PMs to the fund as well: John Toohey, The filing states that USAA "has recently committed to growing its internal equity management capabilities with respect to the USAA Funds." And a USAA spokeswoman emailed MFWire a statement clarifying the decision to terminate the the subadvisory relationships and manage the fund's assets in-house. "USAA Investments has recently in-sourced mutual fund assets to take advantage of in-house expertise in large-cap equity markets," the statement read. "This decision will allow USAA Investments to consolidate around our internal areas of strength to help members accomplish their investment goals." Printed from: MFWire.com/story.asp?s=42102 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |