Russell International Property Securities Fund - $A Hedged scores four star S&P rating
SYDNEY, 1 July 2008 – Russell Investments has received a four star S&P rating for the Russell International Property Securities Fund - $A Hedged (RIPSF) in the 2008 S&P International Property – Multi Manager Review.
The rating follows on from the funds fourth consecutive Highly Recommended rating by Lonsec this year and is the first time the fund has been rated by Standard & Poor’s.
Bruce Eidelson, Portfolio Manager for Russell International Property Securities Fund said “The four star rating is the highest rating given by S&P to a multi-manager and is a reflection of the high calibre nature of the fund which offers not only a skilful blend of managers but also strong returns on investment,” he said.
Introduced in December 2004, the RIPSF invests in property trusts and property-related companies listed on international stock exchanges, predominantly in North America, Europe, Asia and Australian property trusts. The fund employs multiple active managers and strategies to enhance returns, reduce risk and seeks to outperform its benchmark.
“The fund has produced strong performance since inception, and returns volatility has been relatively low, with a historical tracking error of around 2.0% pa, which is lower than the funds mandate. This demonstrates that Russell is able to identify good listed-property managers, and subsequently construct portfolios that minimise relative risk,” Mr Eidelson said.
According to Standard & Poor’s, the 4 star rating reflects S&P’s high conviction that the fund will consistently generate risk-adjusted returns in excess of relevant investment objectives and relative to peer funds.
The S&P report states: “The fund's access to dedicated capital-markets and direct-property teams ensures that it captures trends and structural changes in the market. Its skilful blending of managers improves the stability and reliability of investment returns.”
Along with the Russell Global Opportunities Fund and the Russell International Share Fund, this is the third Russell Fund to be rated by S&P for the first time this year and achieve a Four Star Rating.
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