Investors Mutual has won a new mandate from Russell Investment Management covering several hundred million dollars in assets.
The fund manager has been appointed to manage the Australian equity component of several multi-manager portfolios.
"We are delighted to have won such a significant mandate following extensive due diligence by the Russell research team over the past 12 months," Investors Mutual investment director Anton Tagliaferro said.
"It is a significant institutional win for IML (Investors Mutual Limited) and everybody at the company is delighted by this success."
The appointment by Russell took the firm's funds under management to more than $3 billion as at 30 June 2012.
The firm also recently appointed Gary Horton as its new head of institutional sales.
Horton previously held senior roles at ANZ, Westpac and Wellington Management.
The appointment would allow the investment team to continue to focus on investing clients' money in accordance with Investors Mutual's value investment philosophy, Tagliaferro said.
