Important Information
Should you have any queries on the information below, please do not hesitate to contact us on +44 (0)207 024 6000 or email us.
Copyright 1995-2023 Russell Investments Limited. All Rights Reserved.
You acknowledge that you understand and agree to the following terms and conditions (“Terms and Conditions”) and Privacy Policy. If you do not agree to the Terms and Conditions and the Privacy Policy, you are not authorised to access and use this website.
Disclaimer
Russell Investments Limited, Russell Investments Implementation Services Limited, Russell Systems Limited and their affiliates (together “Russell Investments”) have prepared
the information contained in this website (“Information”) solely for informative purposes and have obtained the Information from sources that they believe to be reliable, notwithstanding this the Information
is not intended to amount to advice on which reliance should be placed and Russell Investments makes no guarantees, representations or warranties (whether express or implied), and accepts no liability (where legally permitted)
as to the Information’s accuracy and completeness.
Any opinions expressed are those of Russell Investments, are not a statement of fact and they do not constitute investment advice and are subject to change.
Restrictions on Distribution
The Information is not intended for distribution to retail clients. This website is not intended for distribution to, or use by any person or entity that is a resident of or located
in any jurisdiction where such distribution or use would be in contravention of law or regulation or which would subject Russell Investments to any registration or licensing requirement in that jurisdiction.
This website and the Information are publications of Russell Investments and are not intended to constitute legal, tax, accounting, securities, or investment advice, nor any opinion regarding the appropriateness or suitability of any investment. This website shall not constitute an offer or a solicitation of an offer to buy or sell any investment product or service to any person or entity in any jurisdiction.
Investment products named in the Russell Worldwide site are only available to residents of countries where offers of such products are permitted by law. Where permitted, prospectuses for funds can be obtained by contacting Russell through the respective country websites.
Risk Warnings
The value of investments and the income from them may fall as well as rise and is not guaranteed. You may not get back the amount that you originally invested. There is no guarantee that any target
or projected figures will be met and any forecast or projection is for illustrative purposes only. Any simulated figures and estimated figures are for illustrative purposes only. Any past performance figures are not a guide to
future performance. Russell Investments makes no guarantee, representation or warranty (whether express or implied) regarding future performance. Any reference to returns linked to currencies may increase or decrease as a result
of currency fluctuations. Any references to tax treatments depend on the circumstances of the individual client and may be subject to change in the future.
Privacy Policy
Russell Investments’ Privacy Policy forms a part of these Terms and Conditions, and is incorporated by reference. Please review this Privacy Policy to understand the controls we have in
place to ensure the security of your information. Visit the Privacy Policy
Liability
To the extent permitted by law, Russell Investments shall not be liable for any damages or losses of any kind including but not limited to direct or indirect losses, damages or special, incidental
or consequential losses (including but not limited to loss of profits, loss of business, loss of income or revenue, loss of anticipated savings, loss of data, loss of goodwill or trading losses) or losses due to tort (including
negligence), breach of contract or otherwise, arising out of or in connection with access to, reliance on or use of this website and/or the Information (whether in whole or part) or to any links the website contains, or due to
the inability for such access, reliance or use, even if Russell Investments has been advised of the possibility of such damages or losses. This doesn’t affect Russell Investments liability for death or personal injury or
any other liability which cannot be excluded under applicable law.
Confidentiality
When using this website data may be transmitted over an open network which may allow such communications to be intercepted by third parties. As a result Russell Investments cannot guarantee the
confidentiality of any communication or data that you may transmit to Russell Investments through this website.
Linking Websites
You may only display links or hyperlinks on your websites to any website owned by Russell Investments if you have entered into a prior written agreement with Russell Investments addressing such
use of links or hyperlinks. You are prohibited from framing the content of this website in any way or any other activity including but not limited to referencing “Russell Investments” or “Russell” as a metatag,
that may create a misimpression or confusion among users with respect to sponsorship or affiliation.
This website may contain links or hyperlinks to other websites operated by third parties. Should you use such links or hyperlinks you leave this website at your risk. Russell Investments accepts no liability and provides no representation or warranty (whether express or implied) as to the completeness or accuracy of any information contained in such websites nor to the operators of or the products or services contained in such websites.
Intellectual Property Rights
This website and the Information are owned by Russell Investments and are protected by applicable copyrights, trademarks, service marks and other intellectual property rights.
All such rights are reserved.
You are only permitted to use this website for personal non-commercial use only, and your use of this website, including the downloading of any parts of this website or the Information shall not transfer any title to any software or information from this website to you. You may only reproduce, distribute or re-publish any Information with the express prior written agreement of Russell Investments.
If you print off, copy or download any part of this website in breach of these terms, your right to use this website will cease immediately and you must, at Russell Investments option, return or destroy any copies of the materials you have made.
Amendment
Russell Investments may amend these Terms and Conditions and Privacy Notice from time to time and without prior notice. Russell Investments reserves the right at any time and without notice to change, amend, or cease publication of the whole
or any part of the Information.
Severability
If any provision of these Terms and Conditions are deemed unlawful or are unenforceable, then that provision shall be deemed severable from these Terms and Conditions and shall not affect the enforceability
of the remaining provisions.
Governing Law and Jurisdiction
These Terms and Conditions are governed by the laws of England and Wales. The exclusive place of jurisdiction is England and Wales.
The following material relates to Russell Investments funds, which have obtained "Reporting Fund" status from the HM Revenue & Customs in the United Kingdom under the Offshore Funds (Tax) Regulations 2009. The material is aimed at existing investors, and is not sufficient to enable prospective clients to make an investment decision. The material is aimed at existing investors, and is not sufficient to enable prospective clients to make an investment decision. More detailed information about these funds is available in the Key Investor Information Document (KIID).
| Complex | Download |
|---|---|
| OpenWorld plc | View PDF |
| Russell Investments Company plc | View PDF |
| Russell Investments Company II plc | View PDF |
| Russell Investments Company III plc | View PDF |
| Russell Investments Company IV plc | View PDF |
| Russell Investments Company V plc | View PDF |
| Russell Investments Qualifying Investor Alternative Funds plc | View PDF |
| Multi-Style, Multi-Manager Funds plc | View PDF |
| Russell Investments Institutional Funds plc | View PDF |
Set out below is the way in which Russell Investments Limited and Russell Investments Implementation Services Limited (together, “Russell Investments”), will integrate Sustainability Risks into investment decisions from 10 March 2021.
Russell Investments’ policy is to integrate sustainability risks in its investment solutions by identifying, evaluating and managing relevant risks in our sub-adviser review process, portfolio management and through implementing proprietary solutions. We believe sustainability risks are most relevant to investment outcomes when they exhibit financial materiality, and, like all investment risks, are incorporated by balancing expected risk with expected reward. In managing investment solutions, we consider financially-material sustainability risks in the context of expected rewards using a blend of inputs from sources including, but not limited to, sub-adviser, third-party data sources and Russell Investments propriety analysis.
Sustainability Risks will be considered in all investment decisions except for investments in certain asset classes or where a strategy or service does not support the integration of Sustainability Risks¹
There may be circumstances in which Sustainability Risks will not be relevant to investments decisions including but not limited to:
- Where the purpose of the investment is to achieve one or more specific outcome(s) e.g. placing derivative trades to manage liquidity.
- In respect of certain instruments or asset classes e.g. Sustainability Risks are unlikely to affect the value of reserve currency.
- Performance of bespoke mandates which exclude Sustainability Risks or environmental, social or governance (ESG) characteristics.
- Services which are performed by Russell Investments with limited discretion.
Where investment decisions are taken by sub-advisers, each sub-adviser will be responsible for identifying and considering Sustainability Risks and opportunities of investments and determining, in their opinion, whether they are, or could potentially be, financially material. Sub-advisers will be held accountable for monitoring and disclosing Sustainability Risks to Russell Investments on an ongoing basis.
Furthermore, we incorporate bespoke Sustainability Risks based on clients’ requirements for customised mandates. As well, we seek to collaborate with our advisory clients to consider, monitor and manage Sustainability Risk priorities in their portfolios.
More information on Russell Investments responsible investing practices can be found here.
“Sustainability Risks” are defined by Russell Investments as financially-material risks related to environmental, social or governance issues that are relevant to our investment practice.
¹ Russell Investments Sustainability Risks Policy does not apply to: (i) transition management, interim management, FX, Currency Overlay and certain EPI Services; (ii) outsourced security trading services; (iii) passive and certain systematic strategies; (iv) unlisted securities; and (v) cash equitization, cash management, currency hedging, derivative overlays and certain direct investing strategies.
The EU Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector, “SFDR” or the “Disclosure Regulation”, comes into effect on 10 March 2021. SFDR is part of the EU financial policy framework of regulatory measures aimed at mobilising finance for sustainable growth and channelling private investment to the transition to a climate-neutral economy. SFDR imposes transparency and disclosure requirements on Russell Investments Ireland Limited (“Russell Investments”) including in relation to the integration of sustainability risks in investment decisions. Set out below is the way in which Russell Investments will integrate Sustainability Risks into investment decisions from 10 March 2021.
Russell Investments’ policy is to integrate sustainability risks in its investment solutions by identifying, evaluating and managing relevant risks in our sub-adviser review process, portfolio management and through implementing proprietary solutions. We believe sustainability risks are most relevant to investment outcomes when they exhibit financial materiality, and, like all investment risks, are incorporated by balancing expected risk with expected reward. In managing investment solutions, we consider financially-material sustainability risks in the context of expected rewards using a blend of inputs from sources including, but not limited to, sub-adviser, third-party data sources and Russell Investments propriety analysis.
Sustainability Risks will be considered in all investment decisions except for investments in certain asset classes or where a strategy or service does not support the integration of Sustainability Risks1 .
There may be circumstances in which Sustainability Risks will not be relevant to investments decisions including but not limited to:
-
Where the purpose of the investment is to achieve one or more specific outcome(s) e.g. placing derivative trades to manage liquidity.
-
In respect of certain instruments or asset classes e.g. Sustainability Risks are unlikely to affect the value of reserve currency.
-
Performance of bespoke mandates which exclude Sustainability Risks or environmental, social or governance (ESG) characteristics.
-
Services which are performed by Russell Investments with limited discretion.
Where investment decisions are taken by sub-advisers, each sub-adviser will be responsible for identifying and considering Sustainability Risks and opportunities of investments and determining, in their opinion, whether they are, or could potentially be, financially material. Sub-advisers will be held accountable for monitoring and disclosing Sustainability Risks to Russell Investments on an ongoing basis.
Furthermore, we incorporate bespoke Sustainability Risks based on clients’ requirements for customised mandates. As well, we seek to collaborate with our advisory clients to consider, monitor and manage Sustainability Risk priorities in their portfolios.
More information on Russell Investments responsible investing practices can be found here.
"Sustainability Risks" are defined by Russell Investments as financially-material risks related to environmental, social or governance issues that are relevant to our investment practice.
1 Russell Investments Sustainability Risks Policy does not apply to: (i) transition management, interim management, FX, Currency Overlay and certain EPI Services; (ii) outsourced security trading services; (iii) passive and certain systematic strategies; (iv) unlisted securities; and (v) cash equitisation, cash management, currency hedging, derivative overlays and certain direct investing strategies.
Set out below is the way in which Russell Investments Limited, Russell Investments Implementation Services Limited and Russell Investments Ireland Limited (together, “Russell Investments”), consider the adverse impacts of its activities on sustainability factors.
Russell Investments is steward of its clients’ capital and takes seriously its commitment to respond to the mandates entrusted to it by its clients. As standard practice across its portfolios, Russell Investments seeks to identify and manage financially material sustainability risks as detailed in its Sustainability Risk Policy. Adverse impacts and financially material sustainability risks are not mutually exclusive, and those adverse impacts that overlap with sustainability risks are considered as standard operating procedure.
Russell Investments also monitors and reports on a limited number of metrics related to adverse impacts in the equity asset class, and for a limited number of portfolios outside of equities. In addition to monitoring and reporting, there are also circumstances where Russell Investments incorporates explicit management of adverse impacts into a mandate.
Russell Investments differentiates between two levels of response to adverse impacts. The first is measuring and reporting on adverse impacts. The second is explicitly managing adverse impacts.
a) Monitoring and reporting on adverse impacts
Russell Investments considers some specific adverse impacts metrices for the equity asset class as standard practice and these metrices are monitored for all equity portfolios. This includes monitoring carbon emissions and an overall ESG score. This information is made available to investment teams for their consideration and is an input into quarterly calls with its subadvisors for the consideration of such subadvisors. It is also made available to clients. Russell Investments actively investigates data offerings in other asset classes and will seek to expand reporting and monitoring of adverse impact metrices to other metrics and asset classes over time as data availability and quality permits.
b) Managing Adverse Impacts
Where agreed with a client or clearly stated in a fund’s objectives, Russell Investments explicitly manages some investment portfolios to reduce one or more adverse impacts. Russell Investments employs various methodologies to do this including:
i. screening certain types of investments that are considered to have an adverse impact; or
ii. centralised implementation of multi-manager portfolios, enabling Russell Investments to use an overlay to reduce certain adverse impacts by shifting weight out of those securities with the highest adverse impacts.