Russell in Spanish multi-manager alliance
SPAIN – Frank Russell Company has formed a strategic partnership with major Spanish financial organisation, Ahorro Corporación, to provide a comprehensive multi-management investment programme to retail investors.
The programme, called AC MultiEstrellas Selección, is based on Russell’s multi-asset, multi-style, multi-manager programme and has five profile funds, ranging from a 20% equity, 80% fixed income split to a 90% equity, 10% fixed income split, with a minimum investment level of Pta1m (€6,000).
This latest partnership agreement complements Russell’s agreements earlier this year with BMW Bank in Germany, Den Norske Bank in Norway and Bank Hapoalim in Israel. Other partnerships include Société Générale and Crédit du Nord in France and ARCA SGR in Italy.
Altogether, Frank Russell has raised over €8bn in the last three years through these partnerships.
Ahorro Corporación incorporates 43 of Spain’s main savings banks and its network of more than 7,200 branches makes it Spain’s largest distribution channel.