Norwalk, Conn.-based The Managers Funds, a member of the Affiliated Managers Group of Boston, recently announced that Osprey Partners Investment Management of Shrewsbury, N.J., was selected as sub-advisor to the Managers Value Fund, a domestic mid-to-large cap value equity fund.
Osprey Partners took over its portion of the fund, which has one other co-portfolio manager, the day of the announcement. Launched in June 1984, Managers Value Fund seeks long-term capital appreciation, with income as a secondary objective, through investment in a diversified portfolio of equity securities.
Osprey Partners will implement a bottom-up value investment style to identify undervalued companies to invest in. The firm was founded in 1998, but the core investment professionals at the firm, led by John Liang, managing partner and CIO, have been together for eight years. Liang and his team were previously employed at Fox Asset Management of Little Silver, N.J.
"We like the combination of Osprey Partners with Armstrong Shaw Inc., the fund's other co-portfolio manager. Within our multi-advisor structure, it's important for us to identify managers who follow different investment strategies within the same broad asset class. While both co-managers fall in the mid/large capitalization value category, their investment processes and strategies are distinctly different and should provide our shareholders with the enhanced diversification they expect," said Tom Hoffman, director of research of The Managers Funds, in a statement.
Founded in 1983, The Managers Funds' mutual funds provide banks, investment advisors, retirement plans and retail investors with a wide range of U.S. and non-U.S. equity and fixed income strategies. All of the firm's funds are managed by one or more independent investment advisors selected and monitored by The Managers Funds.
AMG has made investments in 15 affiliates, which collectively account for roughly $74 billion in assets under management.