Investment manager Russell has dumped two of its international equities mangers, replacing them with global fund manager ClariVest Asset Management.
Investment manager Russell has dumped two of its international equities mangers, replacing them with global fund manager ClariVest Asset Management.
Managers Jacobs Levy and Altrinsic will no longer manage 15 per cent of the Russell International Shares Fund.
Other managers in the line-up include Icap (17 per cent), MFS (15 per cent), Bernstein (15 per cent), Alliance (15 per cent), Turner (13 per cent) and the Russell Global Opportunities Fund (10 per cent).
Russell has also added global manager Harris to its Global Opportunities Fund.
Harris will manage 10 per cent of a large cap mandate. Other managers in the fund include MFS (30 per cent), Arrowstreet (25 per cent), T Rowe Price (25 per cent) and Axiom (10 per cent).
Russell has more than $259 billion in assets under management.
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A former colleague of mine once offered the opinion that industry superannuation funds are reconstructed socialists - despite their union influence, these funds have grown and benefited from a global capitalist world.... read more »
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