Wamco Set to Lose Job Managing Money for Russell Bond Fund.

Western Asset Management Co. (Wamco) is losing its role as a subadviser to the Russell Strategic Bond Fund after experiencing investor redemptions and a federal investigation into one of its star traders. The fund is winding down its allocation to Wamco and expects to terminate its role by the end of the year. Wamco has also been removed as the subadviser for six mutual funds by SEI Investments Management Group. The Russell Strategic Bond Fund has struggled in recent years, with declining assets and poor performance. Wamco's overall assets have also been affected by significant outflows. [Extracted from the article]