The appointment is in addition to the fund's current manager, FAF Advisors, essentially changing the character of the fund from a single-manager to a multi-manager fund.
Macquarie has a longer investment horizon than FAF, which reduces the funds average turnover.
Its portfolio has an average turnover of 50-60 per cent a year, compared to 100 per cent for FAF.
Macquarie does have a more concentrated portfolio at 40-70 stocks, compared to 100-125 stocks in FAF's portfolio.
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"Our analysis shows that the addition of Macquarie materially reduces the aggregate tracking error of the fund, while increasing the beta," the company said.
