ICICI and Russell launch new multi-manager product

Multi-manager funds to be aimed at the banks'' NRI client base.

Asia's layered introduction to multi-manager funds has taken another leap forward with the formation of the region's newest product by India's ICICI Bank and Russell Investment Group. The region's latest multi-manager fund is targeted towards ICICI's client base of Non-Resident Indians NRIs and Persons of Indian Origin PIO's and will be offered through its branch in Singapore.

In addition to taking care of the distribution, ICICI Bank will maintain responsibility for the risk profiling and needs analysis of clients, processing the orders and ongoing client servicing. Russell will select investment managers as well as monitor and manages the portfolio.

The majority of multi-manager funds...

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