Statement from Russell on U.S. ETF business
Seattle, WA August 06, 2012 Russell Investments announced today that it is conducting a strategic review of its direct U.S. ETF business in an effort to focus more exclusively on its core competency delivering multi-asset solutions to institutional investors, financial advisors and individuals globally.
During the strategic review, the investment management team responsible for the firm's U.S. ETFs will remain in place, and the products will continue to pursue their respective investment objectives. However, Russell is scaling back its dedicated U.S. ETF team, primarily based out of the firm's San Francisco and New York City offices.
Russell remains the underlying Index provider for many ETFs around the world, with more than $80 billion in assets under management¹, and will continue its strong partnership with each of these ETF sponsors.
The firm will announce additional details once the strategic review is completed.
About Russell Investments
Russell Investments (Russell) is a global asset manager and one of only a few firms that offer actively managed multi-asset portfolios and services that include advice, investments and implementation. Working with institutional investors, financial advisors and individuals, Russell's core capabilities extend across capital markets insights, manager research, Indexes, portfolio implementation and portfolio construction.
Russell has about $152 billion in assets under management (as of 6/30/2012) and works with 2,400 institutional clients, more than 580 independent distribution partners and advisors, and individual investors globally. For more information about how Russell helps to improve financial security for people, visit www.russell.com or follow us @Russell_News.
Steve Claiborne and Jennifer Tice, 206-505-1858
¹ Source: ETF Industry Association (ETFIA) database using data as of July 31, 2012.