Russell issues new mandates

Russell Investment Group has appointed two new global managers to the Russell International Shares Fund — and Alliance .

The company said the new managers would be responsible for 10 per cent of the fund, increasing the weighting of global mandates to 30 per cent at the expense of Europe, Australasia and Far East (EAFE) and US equity mandates.

Russell portfolio manager said the move towards global mandates helps facilitate a freer stock selection environment.

“Global equity managers have shifted their focus from country lines to sector lines, allowing them to pick the best ideas on a global basis,” she said. “Global managers typically take a more aggressive position on stocks and sectors, meaning the potential for higher returns is increased.”