QIC has changed the shape of its manager line up for the QIC International Equities Small Companies Fund, with the appointment of Skyhawk and ClariVest to replace Denver and AQR.

The company announced today that it had delivered two new mandates totalling $68 million, with $31 million to be allocated to Skyhawk and $37 million to ClariVest.

Commenting on the move, QIC senior portfolio manager Greg Clarke said the change in allocation was part of a strategy to allocate funds with managers that best fit the fund’s future objectives.

“QIC is seeding a new global small cap mandate with ClariVest, a boutique, quantitative manager based in San Diego,” he said. “In addition, we are investing with Skyhawk – a high conviction fundamental manager that uses stages in corporate lifecycles to create an investment thesis around each stock.”