Strategic Investment Solutions bought back the 19.9% interest it sold to Russell Investment Group in July 2003, said Mike Beasley, SIS co-founder. Terms were not disclosed. Russell will continue to collaborate with SIS on topics such as private equity and asset/liability modeling, and SIS will access to Russell's research. The repurchase "puts us back into the camp of independent consultants ... " Mr. Beasley said.
From the beginning, the relationship was viewed as "an exploratory venture," said Monica Butler, managing director of Russell's U.S. consulting group. "When we looked at what each of our clients valued, there didn't seem to be a great benefit to go any further than we already had in terms of collaboration."
SIS has 33 clients with assets totaling more than $600 billion. Russell manages more than $131 billion in assets and advises clients worldwide with assets totaling $2.3 trillion.