Global fund managers Frank Russell Company (FRIC) has hired Suffolk Capital Management to handle parts of five US small cap growth funds.
New York-based Suffolk will manage assignments in the Russell’s $96m US Small Cap Fund and the MSMM $476 US Small Cap Fund, mainly European investor vehicles.
Suffolk joins Barclays Global Investors, TimesSquare, West Peak, Next Century Growth, Systematic, David J. Greene and Jacobs Levy as part of the multi-manager complex.
Additionally, the firm will also manage two other US vehicles - the $745m Special Growth Fund and Russell’s $840m Equity II Fund, where it joins eight other unnamed managers.
The recent wins bring Suffolk’s total assets under management with Russell to $1.4bn, including an assignment for Russell Insurance Funds and other large and small cap equity products.
Commenting on the appointment Erik Ogard, portfolio manager, said: “Suffolk employs a dedicated team of stock analysts whose sole purpose is to determine whether recent positive earnings estimate revisions are likely to impact the stock’s future price performance.”
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