Russell to consult Australian territory funds

ACT Treasury, Canberra, Australia, hired Russell Investment Group as the new asset consultant for its A$2.1 billion (US$1.8 billion) Superannuation Provision Account and A$900 million Territory Banking Account., replacing incumbent Frontier Investment Consulting, whose contract had expired. The treasury of the Australian Capital Territory is required to review and seek bids for consultants when each contract expires. Seven consulting firms responded to the latest RFP, according to Investment & Technology newspaper.