Calvert Group hired Grantham, Mayo, Van Otterloo and State Street Global Advisors as subadvisers on separate mutual funds. GMO will manage the Calvert World Values International Equity Fund, replacing Aberdeen Asset Management, formerly Murray Johnstone. SSgA will manage the Calvert Social Investment Balanced Fund, replacing NCM Capital Management. SSgA will manage the equity portion of the fund with Brown Capital Management.
SSgA was a better fit with Brown because of its more quantitative, low-risk approach, according to SEC filings. Aberdeen was replaced because GMOs style better fit the goals of high total return with limited volatility, according to the filings.