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
Pendal Group has closed the December quarter with a $5 billion increase to its funds under management, a rise of 5.4 per cent. ...
Citigroup has formed a single wealth unit, consolidating its global consumer banking and institutional clients divisions. ...
IOOF’s deputy chief investment officer has been named in a sexual harassment complaint in a case echoing the allegations that rocked AMP t...
Get notifications in real-time for staying up to date with content that matters to you.
Read More