Diversified Investment Advisors hired Aeltus Investment Management and Credit Suisse Asset Management to manage the Diversified Growth & Income Fund, and added INVESCO to the management team of the Diversified Special Equity Fund.
Aeltus and Credit Suisse replace Putnam, which was terminated, said Diversified spokeswoman Wendy Daniels. She would not give a reason for the termination. Aeltus and Credit Suisse each will manage 50% of the $984 million portfolio with Aeltus as a structured core manager and Credit Suisse as an active core manager.
INVESCO joins four other managers of the Special Equity Fund: Goldman Sachs, Husic, RS Investment Management and Westport. Each will manage 20% of the fund. Ms. Daniels said INVESCO was added because of the growth of the $1.4 billion fund.