A Russell press release said it is the $8.4-billion pension fund’s new Aggregate Exposure Manager. “When the State Investment Commission began to evaluate its consultant relationships, we felt it was important to have a separate implementation manager to improve the fund’s efficiency and reduce our costs of operation. We now have in place a flexible platform that allows us to respond quickly to changes in the plan’s strategic asset allocation,” said Rhode Island General Treasurer Frank Caprio, in the announcement.
According to Russell, aggregate exposure management aims to provide institutional investors with improved fiduciary oversight, a mechanism to earn administrative alpha through implementation efficiencies, and a platform to capture the early-adopter’s advantage associated with new investment strategies.
For more information, go to www.russell.com .