Wellington just beat out Mesirow for a value fund sub-advisory mandate. Last week Transamerica Asset Management filed to replace Mesirow Financial Investment Management with Wellington Management Company as sub-advisor for the Transamerica Partners Small Value and Transamerica Partners Institutional Small Value funds, effective July 9. (They hold $36.33 million and $31.93 million, respectively.)

Transamerica will pay Wellington 55 basis points for its services. Wellington's Timothy McCormack (senior vice president, equity portfolio manager) will PM the funds, with involvement from Shaun Pedersen (vice president, equity portfolio manager).

The move may not surprise many fundsters, as Transamerica has switched several sub-advisory mandates to Wellington recently. Wellington already manages part fo the Transamerica Partners Large Growth Portfolio (see The MFWire, 8/14/2009Transamerica Equity Fund, preferring Wellington (see The MFWire, 2/9/2010). Also this spring, Transamerica hired Wellington to sub-advise the brand new Transamerica WMC Diversified Growth Fund (see The MFWire, 4/13/2010). 

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