The Board of Trustees of Touchstone Funds Group Trust has decided to appoint Forum Securities Limited as sub-advisor to the Touchstone Global Real Estate Fund (TGACX), replacing current interim sub-advisor Russell Implementation Services, a subsidiary of Russell Investments, effective May 24.

Touchstone initially hired Russell as a temporary replacement for Cornerstone Real Estate Advisers in March.

“In selecting Forum Securities as sub-advisor, the Board considered, among other factors, the nature, extent, and quality of the management services proposed by Forum Securities and the experience of the personnel providing those services; the history of Forum Securities’ investment performance relating to the services; and the fees associated with those services,” according to a filing.

The Real Estate Fund bets on real estate equity securities of companies domiciled outside the U.S. or with a majority of their assets or real estate activities outside the U.S. It was launched in September 2009 and managed just over $23 million as of May 24, according to Bloomberg.

Forum Securities Limited is a subsidiary of Forum Holdings and an affiliate of Forum Partners Investment Management. Forum Securities manages private investment accounts for institutions and family offices, with an investment focus on long-only and hedged global real estate public securities strategies. As of March 31, Forum Securities had approximately $400 million of assets under management.

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