Russell appoints new managers
Global investment firm, The Russell Investment Group, has added an additional investment manager to both the Russell Australian Property Securities Fund and the hedged Russell International Bond Fund.
Macquarie Investment ManagementjoinsSagittaand SG Hiscock as the third manager within the domestic property securities fund, while London-based Colchester Global Investors replacesDeutsche Asset Managementafter being selected for Russell’s hedged international bond fund.
Macquarie will manage its 35 per cent allocation of the fund using a ‘relative yield’ style, while Colchester, managing 15 per cent of the international bond fund, will invest its allocation utilising a ‘macro value’ style.
Russell’s Australasian chief investment officer, Peter Gunning says it has devoted considerable time and resources to seeking out managers with distinct new global bond investment styles, and as a result has been closely monitoring Colchester through its “on-the-ground” fixed income research in London.
As for Macquarie, Gunning says Russell is highly confident in the property division’s ability to outperform its benchmark.
“Macquarie has a particularly strong and experienced investment team providing considerable depth of research and analysis,” he says.
AUTHOR
Craig Phillips
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
