Bennelong will manage 14 per cent of the portfolio and BlackRock will manage 10 per cent.
BlackRock would adopt a long/short strategy for the fund, taking a 115 per cent long position with the ability to short 15 per cent of its stocks, AMP Capital Investors senior investment specialist David Dix said.
Although the equity team from Bennelong is relatively new, Dix said the group had a long history working together at ING.
"We thought the team at Bennelong have a long, stable history together and have achieved consistent and stable returns," he said.
The firm also redeemed its holdings from Lazard Asset Management.
Dix said the decision was based on portfolio construction issues.
Bennelong and BlackRock join AMP Capital Investors, Ausbil Dexia, JF Capital Partners, Platypus Asset Management and Tyndall Asset Management in the manager line-up.
The Future Directions Australian Share Fund also includes exposure to the Future Directions Australian Small Companies Fund.
