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.
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.
Read more:
Short the UK banks, says Martin Currie
Inflation 'complacency' a risk: Ardea IM
Bravura wins LGIAsuper contract
Election limbo won't hurt AAA rating: Moody's
New research has shown that uncertainty about the future is leading older Australians to cut back on everyday necessities and travel, with 6...
While protests continue across America and the world, the finance sector is failing to combat racism and inequality. ...
Australia’s largest financial institutions have joined forces to develop key climate risk modelling standards. ...
Subscribe to our newsletter
Get notifications in real-time for staying up to date with content that matters to you.
