A new Portland, Ore.-based investment shop has bagged its first sub-advisory mandate courtesy of its affiliate.

Robert Marvin, Brian Smoluch and David Swank, former portfolio managers of the small cap growth team at Roxbury Capital Management, earlier this year broke away and formed Hood River Capital Management. The trio last month picked up their first mandate: a subadvisory agreement to manage the formerly named Roxbury Small-Cap Growth Fund.

Shareholders of the $60 million fund, which launched on January 2, 2003, approved the new agreement at a special shareholders meeting held on May 30, according to a regulatory filing. The fund’s name has been changed to the Roxbury/Hood River Small-Cap Growth Fund.

Jon Foust, director of marketing and client service at Roxbury, was not immediately available to comment on the fund’s “new” sub-advisors.

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