Tower Australia outsources A$2.6 billion in multi-manager funds

The investment house picks Russell to build a specialist range of branded funds.

Tower Australia has appointed Russell Investment Group to manage its A$2.6 billion Australian multi-manager investment product range.

The pair will work together to develop a special range of Tower-branded multi-manager products, with Tower assigned to manage the partnership and Russell given overall responsibility for investorsÆ funds.

CEO of Tower Investment, Graham Evans, says Russell was picked from a string of candidates because of its strong local focus in Australia.

Meanwhile, Alan Schoenheimer, managing director for Russell in Australasia, says ôMulti-manager...

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