The MIR mandate was a customised long/short strategy, and one of the smallest mandates the manager had with Russell Investments.
"We have taken the opportunity to build further conviction in the current manager line-up," Russell Investments chief investment officer for Australasia Symon Parish said.
"Specifically, we have increased exposure to our highest conviction managers."
MIR formerly held a 15 per cent strategic weighting within the fund.
Quest Asset Partners and Plato Investment Management's strategic weightings within the Russell product were boosted to 20 per cent each from 15 per cent each.
L1 Capital and Orbis Investment Management's strategic weightings were increased to 7.5 per cent each from 5 per cent each.
Fortis Investments and Paradice Investment Management held their 15 per cent and 10 per cent weighting within the fund respectively.
