Russell Investments on Tuesday shuffled the subadviser lineups for four of the firm's multimanager fund offerings, according to information on the company's website.
Sustainable Growth will run a target 13% allocation of the $3.7 billion Russell U.S. Core Equity fund, or roughly $480 million. Montag & Caldwell had managed an 11% target allocation in the fund; MFS, a 10% target; and First Eagle, a 5% target.
Lazard Asset Management saw its target allocation to the U.S. Core Equity fund rise to 18% from 12%, and Institutional Capital, to 21% from 13%.
Meanwhile, Falcon Point Capital will manage a target 10% allocation for the $1.4 billion Russell U.S. Small & Mid Cap fund, and Huber Capital Management, EAM Investors and PENN Capital Management will handle 5% each. Tygh Capital had managed 15%. ClariVest Asset Management had its allocation cut to 10% from 15%, and Ranger Investment Management's allocation fell to 12.5% from 16%.
NWQ Investment will run 17% of the $429 million Russell Tax-Managed U.S. Large Cap fund. Palisades Investment Partners had managed a 15% allocation. Sustainable Growth, which likewise serves as a subadviser for the fund, saw its allocation rise to 14% from 12%.
Logan Circle will run up to 30% of its $1.7 billion Russell Investment Grade Bond fund.
Reasons for the changes were not given. Russell spokeswoman Jennifer Tice couldn't immediately be reached for comment.