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.”
By Madhu Kalia
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up
The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.