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North American Funds Names New Sub-Adviser

North American Funds of Boston, has named Global Alliance Value Investors as the sub-adviser for its North American Equity Income Fund. Global Alliance will assume all investment management responsibilities for the fund.

T. Rowe Price was previously the sub-adviser on the fund. Brad Gallagher, the president of CypressTree Investments, the adviser and distributor of North American Funds, declined to say why the company dismissed T. Rowe Price.