Most investors seek the best risk/return trade-offs that help meet their goals. While there is little debate that asset allocation, or the question of what to invest in, has the largest impact on total returns, the question of how to invest, especially within asset classes, has been a source of ongoing debate.

At Russell Investments, we have continually adapted our investment approach to keep pace with the evolution of investment vehicles designed to help investors meet their objectives. The goal has always been to use the full spectrum of available tools within a total portfolio management approach. We believe this integrated process requires a well-informed set of investment beliefs, an open-architecture approach that can source the best active managers and strategies, and accountability for all portfolio exposures.

In this paper, we frame an approach to using the full spectrum of investment options as part of a total portfolio management approach.

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