London, 9 December 2021 — Sheffield Mutual today announced the appointment of Russell Investments, a global investment solutions provider, as its Outsourced Chief Investment Officer (OCIO) partner to provide customised support, advice and implementation for its £100 million portfolio.
A leading independent mutual organisation, Sheffield Mutual has been providing savings and investment support to improve the financial wellbeing of its members since 1892.
Russell Investments will take responsibility for Sheffield Mutual’s investment portfolio, utilising its OCIO capabilities to consolidate existing manager relationships and improve investment and governance outcomes in line with the mutual’s long-term investment objectives.
In particular, Russell Investments will focus on enhancing Sheffield Mutual’s strategic asset allocation and delivering strong risk-adjusted returns through increased portfolio diversification, both on a geographic basis and via exposure to new asset classes.
Russell Investments will also incorporate ESG investments, including its global low carbon solution, to reduce the portfolio’s carbon footprint, whilst providing specialist insights on key ESG regulatory changes and their impact on the mutual’s overall investment strategy.
Commenting on the appointment, Jamie Bellamy, Chief Executive Officer at Sheffield Mutual, said:
“We are extremely excited about the partnership with Russell Investments and the value that the team can bring to the Society and its members. Diversification of our investments has been a strategy of ours for several years and we see the OCIO support from Russell Investments as the next step. We are also very conscious that increased engagement around environmental, social and governance matters with the organisations that we invest our members’ money in is essential and Russell Investments have demonstrated their capabilities in this area.”
Jim Leggate, Managing Director, Head of UK Institutional, Middle East & Africa at Russell Investments, added:
“In an increasingly complex investment landscape, it is important that mutuals and their members have access to best-in-class strategic advice and implementation capabilities. We continue to see strong demand from asset owners for innovative, customised solutions tailored to meet their specific needs.
We are delighted to build our relationship with Sheffield Mutual. Both firms share a common purpose of improving people’s financial security and we are committed to leveraging the extensive expertise of our highly experienced team to deliver exceptional value and an investment solution that meets their long-term goals.”
Dawn Gregory, Sheffield Mutual
01226 741 000
Stephanie Ramos, Russell Investments
0 207 02 46 446
About Sheffield Mutual
Sheffield Mutual Friendly Society has been improving the financial wellbeing of its members' since 1892
Sheffield Mutual was originally established to provide funeral and sickness benefit schemes to its members in times of financial hardship. Whilst remaining passionate about their heritage and mutual status, the products and services have been developed to include a simple range of trusted savings, investment and protection plans - with a particular emphasis on tax-efficient savings and investment policies.
Being an independent mutual organisation, Sheffield Mutual have no shareholders to satisfy. This means that success can be shared with our members through attractive investment returns and good service.
About Russell Investments
Russell Investments is a leading global investment solutions firm with £245 billion in assets under management (as of 30/09/2021) for clients in 31 countries. The firm provides a wide range of investment capabilities to institutional investors, financial intermediaries and individual investors around the world. Building on an 85-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve people’s financial security. Headquartered in Seattle, Washington, Russell Investments has offices in 19 cities around the world, including in New York, London, Tokyo, and Shanghai. For more information, please visit www.russellinvestments.com.
Issued by Russell Investments Limited. Company No. 02086230 and Russell Investments Implementation Services Limited Company No. 3049880.Registered in England and Wales with registered office at: Rex House, 10 Regent Street, London SW1Y 4PE. Telephone +44 (0)20 7024 6000. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN.