Frank Russell Canada Ltd. has appointed Connor, Clark & Lunn Investment Management Ltd. (CC&L) as a new manager in the Sovereign Canadian Equity Pool and Russell Canadian Equity Fund.

CC&L replaces State Street Global Advisors as manager of these funds.

“CC&L employ a proprietary, quantitative approach designed to exploit inefficiencies in the Canadian stock market,” says Timothy Hicks, chief investment officer of Russell Canada.

“We view this manager change as an enhancement to the existing manager line-up. In our opinion, CC&L’s Q-Core strategy provides for enhanced future return potential across several dimensions, notably: investment staff, portfolio construction, security selection, and research,” hicks adds.

CC&L will manage 25% of the Sovereign Canadian Equity Pool and 25% of the Russell Canadian Equity Fund. CC&L joins an already strong Canadian equity manager line-up that includes Sanford C. Bernstein & Co., LLC, Greystone Managed Investments, Laketon Investment Management, Ltd., Cypress Capital Management, Inc., and Guardian Capital, Ltd.

The Sovereign Canadian Equity Pool has approximately $973 million in assets, and is one of the primary multi-manager investment pools to the Sovereign Investment Program.

The Russell Canadian Equity Fund has approximately $1,495 million in assets and it is directly available to institutional investors and also to individual investors through the LifePoints Portfolios program. Both funds are available to individual investors through RBC Investments, ScotiaMcLeod, TD Waterhouse Canada Inc. and Richardson Partners Financial Ltd.