Many changes can occur in funds and fund managers, and investors aren't always aware of them. A manager may leave a firm, or alter their investment style. For these reasons, Russell Investments continuously monitors its managers to make sure they stick to their assignment, replacing them if necessary. Russell Investments monitors both qualitative and quantitative aspects of managers: Qualitative   Quantitative Personnel/Administrative   Performance against peer groups Investment philosophy   Performance against benchmarks Decision-making procedures   Transactions Economic and securities research   Portfolio characteristics When Russell Investments changes managers, the changes occur within the fund; this can be a key benefit for those investors subject to capital gains tax who would lose taper relief if they were to have to sell units in one fund and reinvest in units in another, simply because the portfolio manager moved to a different firm. Russell's continuous research approach helps keep the manager turnover rate low - in the 10% to 15% range. This keeps costs down. Approaches to manager or fund selection driven primarily by performance, which is inherently volatile, are susceptible to higher turnover rates and unnecessary costs. Russell Investments provides manager selection advice to clients who collectively represent more than £1.4 trillion in assets. Russell clients are some of the world’s largest investors, and include NSPCC, J Sainsbury's, Shell and a number of governments and central banks. Russell analysts gain in-depth access to the key investment professionals because managers know Russell Investments advises many of the world’s biggest investors on manager selection. Russell’s analysts look beyond performance numbers and uncover the process, personnel, strategy and organisational issues that can affect future performance. Qualitative judgements are confirmed through rigorous quantitative analysis, using proprietary analytical tools to identify how managers add value and manage risk.

Russell Investments Limited. Authorised and Regulated by The Financial Services Authority.

Copyright © Russell Investments Limited 1998 - 2009. All rights reserved. Important Legal and Regulatory Information.