Lloyd George Management, a wholly owned subsidiary of BMO Global Asset Management, last month took over sub-advising BMO's Lloyd George Emerging Markets Equity Fund (MIEMX), which bets on a diversified portfolio of common stocks of foreign companies located in emerging market countries.

A spokesperson for the firm, explained that Trilogy Global Advisors was a former sub-advisor to the fund when it was run by M&I Investment Management because M&I Investment did not have emerging markets expertise in-house.

However, BMO acquired M&I Investment management mid-last year, which also included the Marshall funds, including the Marshall Emerging Markets Equity fund. And earlier in the year, BMO had also acquired Lloyd George Asset Management, which specializes in Asian and Global Emerging Markets.

“Because BMO had the Emerging Markets expertise in house when they acquired Marshall funds, it no longer made sense to have the Emerging Markets Equity fund sub-advised,” said the spokesperson.

The $73.7 million fund was launched in December 2008 and has an expense ratio of 118 basis points.

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