Russell pushes buttons for advisor market
Russell Investments is pushing all the hot buttons when it comes to the advisor market.
Sunday, December 12, 2021, 9:13 a.m.
In its most recent move, it lowered fees, opted for sustainability, added more ESG-embraced infrastructure.
The company revamped its Russell Investments PIE multi-manager line of funds to further strengthen the investment and value proposition for local financial advisers, their clients and small institutional investors.
“We have significantly improved our local fund offering through lower costs, better tax efficiency and the introduction of new funds,” said Matt Arnold, director of Russell Investments New Zealand.
The two new funds are a Sustainable Global Shares fund and a Hedged Global Listed Infrastructure Fund.
He says the equity fund will be one of the cheapest equity funds available to local investors, and that it will be available in both currency hedged and unhedged formats.
To achieve the sustainable label, it will be based on Russell’s exclusive carbon intensity reduction strategy which favors companies with strong environmental, social and governance (ESG) characteristics.
“This index-based global equity fund aims to reduce carbon emissions and achieve a better ESG profile. The fund also aims to reduce exposure to fossil fuel reserves relative to the benchmark, ”Russell said in a statement.
Russell Business Development Director Scott O’Ryan said the fund is “designed to improve tax efficiency compared to commonly used Australian index funds, while taking significant steps to reduce the carbon footprint and improve the ESG characteristics of their portfolios “.
The new infrastructure funds provide diversified and actively managed exposure to the listed infrastructure sector, which has historically provided investors with a unique blend of income and capital growth. This fund should be available during the first quarter of 2022.
“Global listed infrastructure provides investors with exposure to a sector of the global economy that is experiencing secular long-term growth,” said O’Ryan.
Arnold says the company has cut fees for its current multi-manager funds.
He says this has been achieved by “leveraging the global scale and purchasing power of the company.”
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