Liberty Asset Management hired Pzena Investment Management to subadvise the $1 billion Liberty All-Star Equity Fund, effective Oct. 15. Pzena will replace Oppenheimer Capital. Fred Wofford, Liberty's vice president of operations, declined to detail the reasons for the termination. The fund has more than $1 billion in assets for retail clients.
The fund's other subadvisers are Boston Partners Asset Management, Mastrapasqua Asset Management, Schneider Capital Management and TCW Investment Management Co.
