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TORONTO, Jan. 14, 2014 /CNW/ - Russell Investments Canada Limited (Russell) announces that the proposed changes to the investment objective of two of its funds, Russell Enhanced Canadian Growth & Income Portfolio and Russell Enhanced Canadian Growth & Income Class Portfolio (the "Funds"), were approved by securityholders at a special meeting this week.
The investment objective change is effective January 14, 2014.
Russell, a leading global provider of multi-asset solutions, had asked securityholders to approve a change that would allow the Funds to include primarily foreign as well as Canadian equities in their strategic allocation. With the securityholder approval, the Funds will now have the ability to adopt a global approach to participate in more foreign investment opportunities and increase overall diversification. To reflect this, it is intended that the name of each Fund will change to "Russell Multi-Asset Growth & Income" and "Russell Multi-Asset Growth & Income Class".
A Management Information Circular with full details about the proposed changes was mailed in December to investors of record.
About Russell Investments
Russell Investments (Russell) is a global asset manager and one of only a few firms that offer actively managed multi-asset portfolios and services that include advice, investments and implementation. Working with institutional investors, financial advisors and individuals, Russell's core capabilities extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes.
Russell has more than C$253.7 billion* in assets under management (as of 9/30/2013) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has US$2.4 trillion in assets under advisement (as of 6/30/2013). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than US$1.4 trillion in 2012 through its implementation services business. Russell also calculates approximately 700,000 benchmarks daily covering 98% of the investable market globally, which includes more than 80 countries and more than 10,000 securities. Approximately US$4.1 trillion in assets are benchmarked to the Russell Indexes.
Russell is headquartered in Seattle, Washington, USA, and has offices around the world including Amsterdam, Auckland, Beijing, Chicago, Frankfurt, London, Melbourne, Milan, New York, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information about how Russell helps to improve financial security for people, visit www.russell.com or follow @Russell_News.
*includes more than US$70 billion of derivative overlay assets under management not included prior to June 30, 2013
Nothing in this publication is intended to constitute legal, tax, securities or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. This information is made available on an "as is" basis. Russell Investments Canada Limited does not make any warranty or representation regarding the information.
Russell Investments and the Russell Investments logo are either trademarks or registered trademarks of Frank Russell Company, used under license by Russell Investments Canada Limited.
Russell Investments Canada Limited is a wholly owned subsidiary of Frank Russell Company and was established in 1985. Russell Investments Canada Limited and its affiliates, including Frank Russell Company, are collectively known as "Russell Investments".
Copyright © Russell Investments Canada Limited 2014. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments.
SOURCE: Russell Investments Canada Limited
For further information: Rob Baird, 416.640.2476; Beja Rodeck, 905.885.5945