The Touchstone Global Real Estate Fund is getting a new sub-advisor.
According to a regulatory filing, the fund is swapping out Cornerstone Real Estate Advisers for Russell Implementation Services. Russell will serve as an interim sub-advisor, effective Feb. 22. “In selecting Russell as interim sub-advisor, the Board [of Trustees] considered, among other factors, Russell’s experience and record in transition management and the benefits of a longer period of time to choose a permanent sub-advisor to the fund,” according to the filing.
The $22 million fund was launched in September 2009 and sports an expense ratio of 214 basis points.