Russell Investment Group has selected Picton Mahoney Asset Management to manage a portion of its equity assets in the Russell Canadian Equity Fund and the Sovereign Canadian Equity Pool.

Picton Mahoney will manage growth portfolios within each fund. As part of this change, Cypress Capital Management Ltd. and Laketon Investment Management Ltd. are no longer managers in these funds.

“Picton Mahoney fills the growth niche in our Canadian equity offerings by constructing a portfolio of stocks that demonstrate strong market-relative earnings and revenue acceleration, positive earnings estimate revisions and earnings surprise, and improving relative strength. The firm is especially valued for its momentum strategy, comprehensive security selection, and portfolio construction capabilities,” said Timothy Hicks, chief investment officer of Russell Canada, in a release.

Russell has assigned Picton Mahoney 20% of each fund. According to Russell, Picton Mahoney’s approach is an ideal complement to its current line-up fund managers.