Russell and South African black empowerment group to offer multi-manager investment product (Russell.com)

Russell and South African black empowerment group to offer multi-manager investment product

TACOMA, Wash. — Russell Investment Group and a leading South African black and women empowerment group have agreed to work together to offer a new multi-manager international investment product to South African institutional investors. The group, Women Investment Portfolio Holdings (WIPHOLD), offers financial services through WipCapital, a wholly owned subsidiary, and through associate firms in South Africa.

The multi-manager investment product will provide South African institutional investors with international diversification using the expertise of leading global investment managers blended together in multi-manager portfolios. (Note to editors: These South African-based products will not be offered to U.S. investors).

"WIPHOLD is a significant and well-regarded financial services player in South Africa," said Frederic Jolly, CEO for Europe, Middle East and Africa. "We believe that we can build a successful institutional business with them. We also recognize the importance of black economic empowerment in South Africa and are pleased to make our contribution to their efforts."

Russell opened an office in Johannesburg in 2000 and has since attracted US$1 billion in assets from individual and institutional clients. The agreement with WIPHOLD augments existing Russell relationships with Investment Solutions and Stanlib Wealth Management.

About Russell
Russell Investment Group, global leader in multi-manager investing, provides investment products and services in more than 35 countries. Russell manages more than $95 billion in assets and advises clients worldwide representing more than $1.6 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.

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.

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