Russell Investment Group has appointed two new global managers to the Russell International Shares Fund — and Alliance .
The company said the new managers would be responsible for 10 per cent of the fund, increasing the weighting of global mandates to 30 per cent at the expense of Europe, Australasia and Far East (EAFE) and US equity mandates.
Russell portfolio manager said the move towards global mandates helps facilitate a freer stock selection environment.
“Global equity managers have shifted their focus from country lines to sector lines, allowing them to pick the best ideas on a global basis,” she said. “Global managers typically take a more aggressive position on stocks and sectors, meaning the potential for higher returns is increased.”
The sovereign wealth fund grew $11.5 billion in the March quarter, according to its latest portfolio update, having previously voiced caution about inflation’s downward trajectory.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
Add new comment