Multi-manager Frank Russell has opened an office in Geneva as part of its European growth strategy. Anthony Acampora, who joined Russell recently from Tendler Berentz International, will head up the new office with a mandate to bring in new Swiss institutional clients as well as continue to provide a full range of services to existing clients.
The new office complements the new European distribution partnerships that Russell formed last year with BMW Bank in Germany, Ahorro Corporación in Spain, Bank Hapoalim in Israel and Scottish Widows in the UK. In addition, Russell was awarded 18 new institutional mandates across Europe during 2001 for its multi-manager funds.
Comments Frédéric Jolly, managing director of Europe, Middle East and Africa at Russell: “This has been a year of tremendous growth for Russell’s European operations. This Geneva base will allow us to better focus on growing our business, especially in institutional and private banking, in this region.”
Elsewhere, Russell has selected Singapore-based APS Asset Management to manage two assignments within its manager-of-managers investment complex. The assignments in question are the A$337m (e198m) FRIC Pacific Basin Equity fund and the A$93m MSMM Pacific Basin Equity fund.
Says Symon Parish, portfolio manager at Russell: “The addition of APS will provide the fund with further diversification, principally due to its smaller capitalisation focus and valuation sensitivities.”
Russell evaluates more than 1,500 external investment managers globally as part of its continual research process, with 100 or so being selected for specific assignments within Russell’s multi-manager funds.
Russell provides multi-manager investment products and services in more than 35 countries and manages around e75bn in assets, of which e14bn is managed from Europe.