|
|
|
|
 |
|
Russell adds new manager to Australian Shares Fund
MIR Investment Management selected as additional 'value' manager
SYDNEY, 21 April, 2005 – Global investment and superannuation specialist, Russell
Investment Group, continues its philosophy of gaining ‘first mover advantage’ announcing today that
Australian equities specialist MIR Investment Management (MIR) will join the manager line-up of
the Russell Australian Shares Fund.
Founded in 2003 by Managing Director Michael Triguboff, MIR is a Sydney-based boutique
investment manager that is wholly-owned by its investment team. Its overall philosophy is to use a
combination of quantitative modeling with fundamental analysis for verification to build portfolios of
stocks showing good value that are expected to outperform in the near term.
Mr Symon Parish, Director of Portfolio Management at Russell Investment Group, said MIR
had been appointed to manage a ‘value’ mandate worth 5 percent (around $185m) of the Russell
Australian Share Fund. “MIR’s relatively concentrated approach aims to deliver strong
outperformance, while its unique process adds further to style diversification within the fund,
complementing the already strong manager line-up,” Mr Parish said.
The $3.7 billion Russell Australian Shares Fund employs multiple investment managers and
strategies (i.e. styles) to reduce risk. Following the appointment of MIR the Fund is now diversified
across six separate manager mandates with the following portfolio weights: BEM (25%), Contango
(10%), Orion (15%), Perennial (23%), ABN AMRO (18%) and MIR (5%). The Fund also invests
directly into the Russell Australian Shares Aggressive Fund (4%), a higher risk/higher return fund
designed to provide an extra ‘kicker’ to performance.
Mr Parish said: “Staying abreast of the best and brightest managers, such as MIR, requires
considerable resources. Russell employs more than 450 professionals in nine countries who just
research and monitor managers, study the capital markets, and construct investment portfolios.”
“Collectively, our researchers conduct more than 5,200 face-to-face meetings with managers
each year. That's one reason why we claim with confidence that no one knows managers like Russell
knows managers”, added Mr. Parish.
MIR is a wholesale manager with minimum investment requirements beyond the reach of
most retail investors. “We are excited to be the first investment vehicle to offer small investors,
superannuation members [via Russell SuperSolution Master Trust], financial planners and their
clients, and corporate super funds (via Russell Implemented Consulting) access to MIR as part of a
diversified multi-manager Australian shares fund,” Mr Parish said.
The Russell Australian Shares Fund has averaged in excess of 11.1%* per annum since
inception in December 1997. Over the two years to 31 March 2005, the fund has returned 24.6%*
per annum.
|
|
|
| |
more INFORMATION |
|
|
|
© Russell Investment Management Ltd 1995-2007. All rights reserved
Advice Warning & Disclaimer
Terms of Use.
Privacy Policy.
Products and services described on this Web site are intended for Australian residents only. Information on this site should not be considered a solicitation to buy or an offer to sell a security to any person. Persons outside Australia may find more information about products and services available within their jurisdictions by going to Russell's Worldwide site.
|
