MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 20, 2004 USAA Swaps Subadvisors The board of USAA Investment Management decided to switch subadvisors for two funds in late June, the company disclosed in an SEC filing. On the Growth Fund, the board replaced RCM Global Investors with Loomis Sayles, effective July 1. The board cited the "lack of progress in relative performance of the portion of the Fund managed by Dresdner," as well as Loomis Sayles' large-cap growth record and fees as reasons for the switch. Also fired on June 23 was Westwood Management Corporation. Westwood, formerly subadvisor to the Value Fund, was replaced by Dallas-based Barrow, Hanley, Mewhinney & Strauss. The board cited similar reasons. The Growth Fund has $851.4 million in assets and the Value Fund has $110.1 million in assets. Printed from: MFWire.com/story.asp?s=7643 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |