Frank Russell Wins European Award
London-based Global Pensions magazine has named global investment services firm Frank Russell as Europe's Multi-Manager of the Year. In a rigorous selection process, Russell beat out competitors SEI Investments (Europe), Global Asset Management, and Northern Trust Global Investments. Frank Russell Company provides multi-manager investment products and services in more than 35 countries and has been researching money managers for more than 30 years. Worldwide, Russell manages approximately NZ$150 billion in assets, and advises clients representing around NZ$3 trillion. In New Zealand, Frank Russell Company (N.Z.) Limited advises on more than NZ$12 billion in assets and invests around NZ$1.3 billion for New Zealand investors in Russell Funds.
In citing Russell for the award, the magazine said Russell has achieved outstanding success in its European operations over the past few years.
The assets managed for European clients grew by 88% in 2000, and growth has averaged 123% a year over the past three years, the magazine added.
"Russell can boast strong performance across most asset classes and has continued to refine manager line-up in 28 European funds," Global Pensions said. "Russell's pioneering role in the promotion of the multi-manager concept has borne fruit. Many pension funds now use some form of multi-manager and the format has won acceptance from many consultants."
The magazine added that Russell's multi-manager approach gives pension funds access to investment firms from 15 countries. It brings to its multi-manager offering sophisticated analytical tools and 30 years experience of investment research.
Russell has formed several significant new strategic alliances in Europe in the last twelve months, including BMW Bank in Germany, Den Norske Bank in Norway and Lombard International in the UK. Another alliance, with ArcaCinqueSteele in Italy, which was launched in May 2000, has emerged as one of the most successful investment programmes ever launched in Italy, with AUM of NZ$6 billion by the end of 2000.
The extensive judging process for the Global Pensions competition began by drawing on the views of European pension fund managers and trustees about their service providers. The survey produced a short list of about five nominees in each category.
All those shortlisted were invited to produce submissions outlining their achievements over the year which made them stand out from their peers. A panel of five judges chose the final winner in each of 16 categories.
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