Boston-based Loomis Sayles & Company LP was selected to sub-advise three Managers Funds, effective Wednesday, May 19.

Daniel Fuss, vice chairman of Loomis Sayles will lead investment teams managing the Managers Fixed Income and Managers High Yield Funds and the fixed income portion of the Managers Balanced Fund. Chicago Equity Partners will continue to manage the equity portion of the Balanced Fund.

The Managers Funds LLC is based in Norwalk, Connecticut. Since acquiring the Conseco Fund Group in April, it has offered 27 equity and fixed income mutual funds. Prior to that, it offered 19 funds.

The three funds Loomis Sayles will sub-advise were among those acquired from Conseco, which was renamed 40/86 Advisors. 40/86 was the previous advisor for the funds.

A Managers Funds spokesperson said the decision to seek a new sub-adviser was related to the "departure of a number of senior advisors from 40/86. That's always a red flag."  

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