Frank Russell Canada Ltd. announced Monday that is has selected Greystone Managed Investments Inc. to manage a portion of its Canadian equity assets in the Sovereign Canadian Equity Pool and the Russell Canadian Equity Fund.

“Greystone is a great complement to the other managers because of their focus on finding companies with high market-relative, sustainable earnings growth and momentum characteristics. But, they combine this stock-selection skill with an attention to reasonable valuation to help avoid excessively risky situations,” said Timothy Hicks, Russell Canada’s chief investment officer.

Greystone will respectively manage 20% of the Sovereign Canadian Equity Pool and 20% of the Russell Canadian Equity Fund.

Greystone joins an already strong Canadian equity manager line-up that includes Sanford C. Bernstein & Co., LLC, State Street Global Advisors, Laketon Investment Management, Ltd., Cypress Capital Management, Inc., and Guardian Capital, Ltd.

The Sovereign Canadian Equity Pool has approximately $840 million in assets, and is one of the primary multi-manager investment pools to the Sovereign Investment Program. Launched in January, 1993, Sovereign was the first multi-style, multi-manager investment program in the country.

The Russell Canadian Equity Fund has approximately $1,015 million in assets and it is directly available to institutional investors and also to individual investors through the LifePoints Portfolios program. Russell creates diversified portfolios of managers and investment styles that are designed to manage risk and provide consistent performance over the long term.

Both funds are available to Canadian individual investors through RBC Investments, ScotiaMcLeod and TD Waterhouse Canada Inc.