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
MetLife has committed to shrink its greenhouse gas emissions by 30 per cent from 2019 levels, originate $20 billion in green investments and...
The government is staring down the barrel of massive budget deficits for the foreseeable future, but more spending will be needed to grow th...
The majority of active funds had worse performances than their respective benchmark indices in the first half of the year, according to the ...
Subscribe to our newsletter
Copyright © 2020 Investor Daily
Get notifications in real-time for staying up to date with content that matters to you.
Read More