Columbia Threadneedle Investments hired Crabel Capital Management as a subadviser for its $526 million Multi-Manager Alternatives Strategies Fund.
The fund's board of trustees approved the addition of Crabel at its Sept. 16 meeting, confirmed Elizabeth Kennedy, Columbia Threadneedle spokeswoman.
At that same meeting, the board approved terminating AQR Capital Management as a subadviser to the fund.
Both actions will be effective on or about Jan. 12, the filing said. Ms. Kennedy did not provide a reason for terminating AQR.
Crabel will run its managed futures strategy for the multimanager absolute-return fund, according to an SEC filing Friday.
The Multi-Manager Alternatives Strategies Fund's other subadvisers are AlphaSimplex Group, Manulife Investment Management, TCW Group and Water Island Capital, according to a fact sheet posted on Columbia's website.
As of Sept. 30, the allocation to AQR Capital's strategy was 12.6%, or about $66 million, of the overall portfolio.
