Frank Russell Investments (UK) Ltd., a unit of Frank Russell Co., has launched a multimanager U.K. Equity Fund. The fund has raised $16 million from three investors since its Aug. 1 launch. The fund is denominated in sterling, and is benchmarked against the FT-SE-A All Share Index. Managers of the fund are GMO Woolley, Schroders Investment Management and LGT Asset Management, all based in London.
The UK Equity Fund is a subfund of the Frank Russell Unit Trust, a U.K. authorized unit trust that provides investors with a tax-efficient structure. The launch completes Russell's coverage of world equity markets.