UK – Capital International has won a mandate to run a UK equity portfolio for the Frank Russell Company within its manager of managers investment structure.
The appointment is specifically an assignment in Russell’s £955m (€1,525m) FRIC UK equity fund, which has five other managers and is open to European investors.
The assignment is in line with Russell’s multiple manager process, which seeks to emphasize stock selection skills whilst providing broad asset diversification in each of its 144 funds.
Says Kathy Nevin, portfolio manager at Russell: “We believe that the addition of Capital International will provide the fund with further diversification and lowering of manager-specific risk.”
London based Capital International is part of the Los Angeles based Capital Group which, with the latest mandate win, now manages seven assignments in Russell’s international funds.