The new group will deliver Russell LifePoints Funds directly to defined contribution plan sponsors as well as to financial professionals advising DC plan sponsors, according to the announcement.
In addition,Russell is launching Class R shares for its LifePoints Target Portfolio and Target Date Funds, which will be available to retirement plans and platforms beginning March 1, 2006. Russell offers nine fund-of-funds portfolios – risk based and target date based – that are continually rebalanced and monitored by Russell’s investment process.
The newly organized Russell Retirement Services is comprised of associates from both the institutional and individual investor sides of Russell’s business. It is led by Matt Smith, managing director, who has spearheaded Russell’s DC plan services for several years by working closely with third-party intermediaries and other DC specialist firms. In this new role, Smith will oversee a broader bridge of services and products to fulfill the range of DC plan needs across the client spectrum.
More information can be found at www.russell.com .