Frank Russell Trust Co. hired Strong Capital Management to manage $1.8 billion in growth equities for the Equity One commingled fund and the Diversified Equity mutual fund, which use identical manager-of managers strategies and have total assets of $3.2 billion. Strong is a new addition to the portfolios.
Russell also hired Barclays Global Investors to manage a structured core value mandate. Russell spokesman Chris Phillips said he could not say how large the mandate is, but added BGI was hired for diversification.
Turner Investment Partners was hired to manage a concentrated large-cap portfolio to slightly change the strategys mandate to add a major concentrated, sector-neutral element, said Mr. Phillips. Mr. Phillips could not say how large the mandate was and would not name the manager Turner replaced.