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Implementation Services $360 billion transitioned in 2005 "Transition Manager of the Year" — 2006 Plan Sponsor Transition Management Survey Even the best, most innovative investment ideas can fail to meet expectations if implemented poorly. That's what has driven Russell's Implementation Services for over three decades. Russell is unique in offering a complete suite of services to implement your investment strategy and maintain your assets: Event-driven Solutions Policy-driven Solutions Transition Management Interim Management Cash Flow Management Overlay Services Currency Services Liability Driven Investment Commission Recapture Managed Trading Transition Management In 2005 our clients trusted us with transitioning over $360 billion of their assets and awarded us 'Transition Manager of the Year'. Russell offers a service with no hidden fees, industry-leading performance and 25 years experience managing clients' risk and performance when restructuring portfolios or asset classes. A well planned and executed transition strategy can help you: Manage return outcomes Maintain investment exposure Minimise fiduciary risk and administrative workload Interim Management Occasionally fund owners need to have part, or all, of their portfolio managed on an interim basis while they decide on the appropriate investment strategy. For instance, when managers need to be replaced but a replacement has not been chosen. Our global experience in multi-management allows us to assign a dedicated portfolio manager and support infrastructure to manage the portfolio until new managers and/or strategies are formulated. Currency Implementation Research shows that failing to address foreign exchange (FX) transactions can be costly. In particular, the high incidence of uncompetitive execution outcomes can increase costs unnecessarily. Russell adopts the Agency FX Trading approach. In an agency trade, a trusted fiduciary acts as your agent. Russell then gets the best deal possible, with transparent costs, and provides you the ability to periodically review your agent's results, and provide appropriate feedback. Cash Flow Management and Overlay Services Much of our industry is focused on improving results via new sources of return. Hedge funds, portable alpha and real return assets such as commodities have leapt to the forefront of investment strategies being added to portfolios. The sobering fact is that not all investors will succeed with these approaches. Russell's experience has been that reducing slippage embedded in the existing portfolio, while lacking the allure of new strategies, represents "low-hanging fruit" for many investors. Alternative approaches to reducing frictional cash, maintaining one's asset allocation and cash flow management, have become a viable source of administrative alpha. Russell structures programs that minimises slippage and improves the investment of new cash-flows. Commission Recapture The Russell Commission Recapture program has helped save clients over US$1 billion since its inception in 1969. The Russell difference is an independent global broker network in over 85 countries and no internal trading desk which eliminates any potential conflict of interest. Managed Trading Managed trading is the next evolution in multi-manager implementation. The trading function is examined from a "macro portfolio" perspective in the process making the trading function efficient and stripping out unnecessary trading inefficiencies and costs. Liability Driven Investment One of the biggest challenges faced by pension funds is the management of their defined benefit liabilities in their current portfolio. Russell has experience in devising and implementing strategies to manage and control these future liabilities. For more information contact: Chris Briant Director of Sales, Institutional Investment Services +61 2 9229 5111 or Contact us via the online form

Download PDF Download a copy of Russell's Institutional Heritage   Related Info Transition Management Earns Top Rankings Russell has attained several industry-leading rankings in the 2007 transition management surveys sponsored by Plan Sponsor and Global Investor magazines. » More

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