Russell issues new mandates
Russell Investment Group has issued two new mandates adding ClariVest Asset Management to its International Shares Fund and Harris Associates to the Global Opportunities Fund.
ClariVest will manage approximately 15 per cent of the Russell International Shares Fund alongside existing managers ICAP, MFS, Bernstein, Alliance, Turner, and Russell Global Opportunities Fund.
The mandate has come at the cost of Jacobs Levy and Altrinsic.
The Harris Associates mandate will see allocated a 10 per cent large cap portfolio alongside existing managers MFS, Arrowstreet, T Rowe Price and Axiom.
Commenting on the moves today, Russell Portfolio manager Phil Hoffman said the ClariVest appointment enhanced the International Shares Fund quantitative exposure globally.
AUTHOR
Mike Taylor
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