Seven senior members of Boston Company Asset Management's investment team have walked out, with the defection creating uncertainty for Advance Asset Management's Australian offerings.
The funds affected by the defections are Advance International Shares Core Fund, Advance International Sharemarket Fund and International Shares Multi-Blend Fund.
Research group Morningstar has placed the Advance funds on hold as a result of the defections.
The portfolio managers, members of the international core and international small-cap equity investment teams, are joining rival US manager Munder Capital Management.
Boston chief investment officer Dave Cameron to lead the two investment teams following the departures.
Boston had US$72.70 billion in assets under management at December 31, US$1.10 billion of this in global equities strategies.
Boston Company Asset Management is a Bank of New York Mellon company.
