Fidelity Investments hired Wellington Management as a subadviser for its $15.2 billion Strategic Advisers International Fund, an international equity fund.
Wellington joins Arrowstreet Capital; Causeway Capital Management; Massachusetts Financial Services; T. Rowe Price Associates; Thompson, Siegel & Walmsley; and William Blair Investment Management as external subadvisers for the fund, according to a June 9 filing with the Securities and Exchange Commission.
Wellington had about $1.18 trillion in assets under management as of March 31, the filing noted.
A spokeswoman for Fidelity confirmed in an email that Wellington has been retained as an additional subadviser for the fund and did not replace another subadviser.
For the year ended May 31, the Strategic Advisers International Fund returned 2.6%, underperforming the 3.3% return of its primary benchmark, the MSCI EAFE index, according to Fidelity's website.
As of March 31, Fidelity had $11.1 trillion in assets under administration and $4.2 trillion in total discretionary assets, according to the company's website.
