Jana Investment Advisers has appointed New York-based value manager Pzena Investment Management to a $140 million global equities mandate.
Pzena was established in 1995 by Richard Pzena and uses fundamental analysis to pick undervalued stocks.
In Australia it also manages a $132 million global equities mandate for Intech and a $633.5 million global equities mandate for the Victorian Funds Management Corporation.
BT Financial is also invested in Pzena's funds.