Frank Russell has hired market-oriented managers Jacobs Levy Equity Management and Westpeak Investment Advisors and value manager MFS Institutional Advisors to manage US equities for Canadian institutional investors.

This brings the US equity fund manager of managers line-up to a pair of value managers, two growth managers and two that are market-oriented. The move reflects the global fund manager's desire to improve risk control by diversifying styles, said Russell portfolio manager Tim Hicks. The three managers, which are all based in the US, had been chosen for their stock picking skills, he said.