Russell Investments gains $1.9 billion implemented consulting client
- Tasmania’s superannuation commission selects firm to help manage defined benefit assets
Sydney, 19 April 2017 – Global asset manager Russell Investments today announced that the Tasmanian Public Sector Superannuation Commission has selected the firm as its implemented investment consultant to help manage AUD$1.9 billion in defined benefit assets.
“We look forward to working closely with Tasmania’s Office of the Superannuation Commission to help them achieve strong investment outcomes for their members,” said Jodie Hampshire, managing director, head of Australian Institutional at Russell Investments. “Our role will feature investment consulting and implementation advice as well as the delivery of cutting-edge, multi-asset investment strategies to deliver strong outcomes for each defined benefit scheme in the fund, in accordance with the commission’s needs.”
After an extensive selection process in concert with structural changes to the management of public sector superannuation, the Director of the Office of the Superannuation Commission Adrian Christian said they turned to Russell Investments in large part due to the firm’s long-established superannuation heritage and significant experience in implemented consulting, particularly with complex defined benefit funds. “Russell Investments offers the necessary capabilities, global reach and experience to help us deliver solid, repeatable investment performance,” he added.
Russell Investments, which pioneered the concept of implemented consulting services in Australia in 1997, has witnessed an increasing demand for their service over the past three years with a 45% growth in implemented consulting clients. Globally, Russell Investments has AUD$356 billion in assets under management as of 31/12/2016.
“Our ability to offer an array of multi-asset investment solutions, specifically tailored to reflect the specific needs of each client, is resonating in the superannuation community,” Ms Hampshire said. “This includes a range of funds drawing on the firm’s core capabilities, such as manager research and factor exposures, in order to offer cutting-edge investment solutions, e.g. tax-managed, to deliver value for our clients.”
Pete Gunning, chief executive for the Asia-Pacific region at Russell Investments, highlighted that increasing interest in the firm’s implemented consulting model is driven in large part by the market’s dynamic nature. “In today’s volatile market environment investors need to be equipped with access to diverse, effective and nimble investment strategies. With our world-class, multi-asset investment capabilities we’re well-positioned to assist superannuation funds achieve their investment outcome objectives.”
About Russell Investments
Russell Investments, a global asset manager, offers multi-asset portfolios and services which include advice, investments and implementation. Russell Investments stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, asset allocation, portfolio implementation and factor exposures—to help each achieve their desired investment outcomes. The firm has more than AUD$356 billion in assets under management (as of 31/12/2016).
Headquartered in Seattle, Washington, Russell Investments operates globally with 21 offices, providing investment services in the world’s major financial centers such as London, Paris, Amsterdam, Sydney, Tokyo, Shanghai, Toronto and New York. For more information about how Russell Investments helps to improve financial security for people, visit https://russellinvestments.com/au/
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First Used: February 2017