Russell Investments Canada hired East Coast Fund Management as a subadviser to the Russell Global Unconstrained Bond Pool mutual fund.
The hire is part of a restructuring of the fund, which had been called the Russell Core Plus Fixed Income Pool, to an absolute-return strategy from core plus.
East Coast replaces AllianceBernstein, said Greg Nott, Russell Canada chief investment officer and portfolio manager of the mutual fund. The firm was not dropped for performance reasons, he said.
East Coast will manage a credit portfolio for the pool. It is one of three subadvisers for the fund.