DWS Investments hired Pyramis Global Advisors and Henderson Alternative Investment Advisor to subadvise its $388 million DWS Disciplined Market Neutral strategy, effective July 1, according to spokeswoman Pholida Barclay.
Ms. Barclay didn't know how much each would manage.
Also, Owen Fitzpatrick, DWS quantitative portfolio manager who currently runs the DWS Capital Growth strategy, will manage a long/short approach in the market-neutral fund.
The strategy had been subadvised by QS Investors, which was dropped as subadviser from 16 DWS funds earlier this month. Most of those funds will be internally managed.