The four new funds, as well as the existing family of LifePoints products, will be available to plan sponsors of 401(k) plans via Russell’s new distribution partner, AUL. Under the terms of an agreement, AUL will distribute Russell funds via its independent broker network of 14,000 advisors. AUL will be responsible for managing the plan administration needs of clients, including maintaining account records for DC plans and their participants, communicating periodically with DC plan participants and providing information to and answering questions from participants
Russell will be responsible for the delivery of its multi-manager investment approach, via the company’s LifePoints family of funds. This includes the research and selection of investment managers, as well as monitoring of the managers (including manager replacement when necessary) and automatic daily rebalancing of the funds.
“The addition of AUL as one of our Retirement Alliances distribution partners is an immediate enhancement of our reach to plan sponsors in the US. By working with them, we are able to make available a broader array of 401(k) plans the same institutional-quality investment approach and fiduciary oversight that our largest institutional clients currently use,” said Matthew Smith, managing director, Retirement Alliances, Russell Investment Group.