BMW Enters Fund Management Business

June 12, 2001 ( - Frank Russell continues to stretch the global reach of its multi-manager product, inking a strategic partnership with BMW Bank GmbH to offer the program to German investors.

The Multi Asset, Multi-Style, Multi-Manager program will be offered through BMW Bank, the financial services arm of BMW Group, the car manufacturing company.

According to the company, this is Russell’s first alliance with a company outside traditional financial product distribution channels such as banks, insurance companies and independent financial advisors.

Russell earlier this year announced a similar multi-manager product in Scandinavia to be offered through DnB Investor, the mutual fund arm of Den Norske Bank in Norway, and Bank Hapoalim, Israel’s leading bank.

The program offered through BMW Bank includes five profile funds, ranging from 100% fixed income to 100% equities. It also marks BMW Bank’s entry into fund management.