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.
Anyone expecting an RBA rate cut to trigger a repeat of the six-year property boom we experienced from 2011 needs to think again, according ...
The Reserve Bank has warned of negative equity risks among off-the-plan property buyers and the broader economic consequences of a supply gl...
Australian asset managers will be aggressively buying yield assets as the US Federal Reserve has delayed further interest rate increases for...