The assignments were completed as part of Russell’s multiple-manager process, for the company’s more than 150 funds that are available to US investors through intermediaries, such as Raymond James & Associates, A.G. Edwards and Northwestern Mutual.
The Russell mandates involved:
- Brandywine and DePrince getting tapped for large cap value assets in the FRIC Equity III and Equity Income funds, which currently hold approximately $173 million, and
- Goldman Sachs Asset Management getting the nod for a market-oriented equity assignment in the FRIC Equity II and Special Growth funds, which currently hold approximately $1.5 billion
Each year, Russell evaluates more than 1,500 outside investment manager teams.