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Netwealth awards $400m mandate

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By Killian Plastow
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2 minute read

Platform provider Netwealth has announced a new fund manager for its actively managed diversified funds.

Russell Investments will take control of $400 million within Netwwealth's Global Specialist Series, with the transition expected to be finished in August 2016.

Netwealth joint managing director Matt Heine described the collaboration as a “compelling proposition” given Russell Investments' extensive “multi-asset expertise”.

“With today’s low returns and high volatility environment, we believe Russell Investments’ dynamic approach to investing will help our investors weather these market conditions and provide them with a greater chance of meeting their long-term goals,” Mr Heine said.

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Russell Investments' managing director of private client services, Siva Sivakumaran, said the company is pleased to have been chosen to manage the funds, which currently have more than $400 million in assets.

“Russell Investments was delighted to be selected by Netwealth in this highly competitive environment,” Mr Sivakumaran said.

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Netwealth awards $400m mandate

Platform provider Netwealth has announced a new fund manager for its actively managed diversified funds.

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