Fremont Investment Advisors has replaced the manager for its Fremont International Growth Fund. Jarislowsky Fraser Limited (JFL), a Canadian Firm with $19.6 billion under management, will take over the management of the fund effective tomorrow.
FRL replaces Capital Guardian Trust, which has managed the fund since 1998. The fund has yielded a three-year annualized return of 11.04%, placing it in the 87 th percentile of its category, and a year-to-date return of 11.41%, placing it in the 94 th percentile of its category, according to Morningstar. The fund currently has about $34 million in assets.
Fremont chose JFL after a three-month manager search. The firm reviewed the quantitative performance of several firms and conducted due diligence meetings with firms whose performance stood out, according to the company.
"As a result of this extremely thorough process, in which we evaluated all aspects of the firms investment process, including risk controls, we are convinced that JFL provides remarkeable added value not previously available to U.S. mutual fund investors," said Fremont CEO Nancy Tengler.
Fremont, which sponsors the Fremont Funds, a family of 13 no-load mutual funds, manages roughly $6 billion for individual and institutional investors.