IOOF Holdings, Melbourne, Australia, hired Russell Investments as consultant.
Russell will assist the financial services firm with investment strategy, asset allocation and portfolio efficiency. IOOF has A$10 billion (US $8.97 billion) in manager-of-managers portfolios.
Beyond investment consulting and manager research, Steve Merlicek, IOOF chief investment officer, said his firm would “look to take advantage of Russell’s dynamic range of portfolio efficiency strategies … Russell’s strategic tilting capabilities and its strong actuarial practice are also areas which may be useful for the group.”
Michael Bailey is editor of Investment & Technology, Sydney.