Diversified Investment Advisors terminated Institutional Capital Corp. as subadviser of the $524 million Diversified Balanced Fund. Hired as replacements were Aeltus Investment Management, which will manage an active portfolio of stocks from within the S&P 500 index; and Payden & Rygel, which will manage domestic and global fixed-income. Officials at Institutional Capital declined comment regarding the termination.
Diversified Investment Advisors terminated Institutional Capital Corp...
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