Retail push signals strategic shift for Russell
RUSSELL Investment Group has made a significant strategic shift to its Australian business, launching a series of multi-manager funds which are targeted exclusively at retail investors.
The funds, available only for investors in Australia, are a departure from Russell’s usual strategy of providing multi-manager products for wholesale, or to very large investors only.
Chris Corneil, director retail investment services for Russell in Australia, said the group had bowed to demand from advisers to “deliver our multi-management expertise directly to investors”.
“The series represents the ultimate embedded advice package, as it offers investors access to the world’s largest and most sophisticated multi-manager at wholesale rates,” he said.
Targeted at Australia’s “growing DIY and high-net-worth sector”, according to Corneil, the series is being offered at a minimum initial investment of $50,000.
It comprises five ready-made diversified funds — conservative, ‘diversified 50’, balanced, growth and high growth — as well as a range of Australian and global single sector funds.
The funds offer access to a spread of approximately 32 specialist managers.
“The funds offer access to some high-octane global fund managers that are simply not accessible — and probably not advisable — for individual investors,” Corneil said.
“But by offering them in a combined multi-style, multi-manager portfolio, they provide access to the return potential of the best higher alpha managers at vastly reduced levels of overall portfolio risk.”
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