Russell Investment Group selected MFS Institutional Advisors to manage 26% of the Russell Overseas Equity Fund, one of the underlying equity funds in its LifePoints asset allocation portfolio, and 25% of the Sovereign Overseas Equity Pool, said Susi McCord, spokeswoman for Russell. MFS, which will manage the money in a growth style, replaces Pyramis Global Advisors. The firm also hired Clarivest Asset Management to subadvise on the Russell Global Equity Fund, according to a news release. Clarivest is an addition to the fund's lineup of existing managers, according to the release, and will manage 30% of the fund. Alliance Capital will manage 30%; MFS Institutional, 20%; and Altrinsic Global Advisors, the remaining 20%.