Russell named largest global multi-manager
Frank Russell Companyhas been named the largest global multi-manager investment house in Cerulli Associates’ July report.
The report states that the total world multi-manager assets under management stood at US$489 billion at the end of last year, and have grown at a rate of 15 per cent since 1999. Excluding fund-of-fund investment vehicles, the market is $260 billion (AUD) strong, of which Russell is reported to have a 26 per cent slice.
And its slice of manager-of manager markets outside of the US is larger, with 34 per cent of the market share. Growth in this sector has leapt ahead by 43 per cent over the last four years.
Australia and New Zealand represents the third largest marketplace for such multi-manager products, the report says. However, Russell in this market is second to MLC in terms of size of manager-of-manager groups.
Elsewhere, Russell enjoys the top spot in the UK market, with a 58 per cent share, and claims that it manages “the bulk of manager-of-manager products in Japan”.
“The strong growth in the multi-manager segment in the past three years is not surprising,” Frank Russell Company chairman Mike Phillips says. “Investors everywhere are realising that having a single investment manager run your money is as strange as having a single stock in your portfolio.”
AUTHOR
Lachlan Gilbert
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
