Netwealth’s $400m mandate goes to Russell Investments
Non-institutional platform provider, Netwealth, has appointed Russell Investments as its new manager for their actively managed diversified funds.
Russell Investments would help investors achieve their long-term objectives, and weather the prevailing market conditions, Netwealth said.
The funds equated to over $400 million and formed part of the Netwealth global specialist series that covered four risk profiles, ranging from conservative to high growth.
Netwealth joint managing director, Matt Heine, said: "Netwealth's award winning technology, coupled with Russell Investments' highly rated multi-asset expertise, is a very compelling proposition".
Russell Investments' dynamic approach to investing would help Netwealth's investors through the low return and highly volatile environment, he said.
Investors and advisers were demanding much more robust multi-asset funds, and demand would only increase as the world headed in to an increasingly challenging market, with significant downside risk, Russell Investments said,
Recommended for you
Clime Investment Management has welcomed an independent director to its board, which follows a series of recent appointments at the company.
Ethical investment manager Australian Ethical has cited the ongoing challenging market environment for its modest decrease in assets over the latest quarter.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
VanEck is to list two ETFs on the ASX next week, one investing in residential mortgage-backed securities and the other in Indian companies.
