Russell Investments is launching a multimanager institutional fund that will invest primarily in frontier-market companies with a demonstrated openness to foreign investors, according to a news release today.
The fund will have some flexibility to invest in listed companies in more developed markets with a significant proportion of operations in frontier markets, which could include countries like Kenya, Nigeria, Jamaica, Trinidad, Croatia, Romania, Jordan, Lebanon and Qatar.
The fund will be available only to qualified employee benefit plans and government plans, the news release said.
The frontier markets look similar in many ways to the emerging markets of the 1980s and 1990s, said Ron Dugan, Russells director of global equity, in the news release. As more investors look for new sources of return, the frontier markets will open new avenues in the global world of investing.
Russell Investments had $136 billion in assets under management as of March 31.