Russell's hedge fund program tops $2 billion (Russell.com)

Russell's Hedge Fund Program Tops $2 Billion

TACOMA, Wash. — March 5, 2004 — Russell Investment Group gathered $1 billion from institutional investors for its multi-manager hedge fund program in 2003, and the firm now manages more than $2 billion in this type of investment. The new hedge fund clients are located in countries around the world, primarily in Europe, the United States, Japan and Australia.

"More investors are making the move from considering hedge funds as an addition to their existing asset allocation, to actually investing in them," said Dave Tsujimoto, director of alternative investments at Russell. "Those looking to increase their exposure recognize Russell's ability to serve their needs by researching and combining quality managers in this specialized arena."

Tsujimoto added that institutional investors are looking for a proven track record as well as a diversified, risk-managed offering, backed up by in-depth manager research.

"We believe multi-manager hedge fund investing will become a standard element of most institutional investors' strategic asset allocation and expect continued growth in our multi-manager hedge fund program throughout 2004," Tsujimoto said. "Institutions come to Russell because we offer a predictably high standard of manager research and investment management services, which are especially essential when wrestling with the complicated issues of alternative investing."

About Russell
Russell Investment Group, a global leader in multi-manager investing, provides investment products and services in more than 35 countries. Russell manages more than $100 billion in assets and advises clients worldwide representing more than $1.8 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Auckland and Tokyo.

Contact: Steve Claiborne (253) 594-1858

Russell Investment Group is a registered trade name of Frank Russell Company, a Washington, USA corporation, which operates through subsidiaries worldwide. Frank Russell Company is a subsidiary of The Northwestern Mutual Life Insurance Company.

In general, alternative investments involve a high degree of risk, including potential loss of principal; can be highly illiquid and can charge higher fees than other investments. Hedge strategies and private equity investments are not subject to the same regulatory requirements as registered investment products. Hedge strategies often engage in leveraging and other speculative investment practices that may increase the risk of investment loss.

Diversification does not assure a profit or guarantee against loss in declining markets. RC 3767