AssetMark Investment Services hired Copper Rock Capital Partners as subadviser to the $144 million AssetMark Small/Mid Cap Growth Fund, replacing Transamerica Investment Management, said Ken Bakar, AssetMark's director of marketing. Transamerica was terminated because four of its growth equity portfolio managers left in March, Mr. Bakar said. Transamerica spokeswoman Elizabeth Grice said the firm had no comment.
AssetMark provides small-cap to midcap growth equity management for pension and profit-sharing plans, institutional investors, investment limited partnerships and mutual funds. AssetMark has $5 billion in assets under management.
Wilshire Associates assisted in the hiring, Mr. Bakar said.