Russell comes up with new PIE funds

Russell Investments has established a new partnership with local investment management company Implemented Investment Solutions led by industry veteran Anthony Edmonds.

Thursday, May 19th 2011, 7:23AM

The companies will offer a suite of tax efficient Portfolio Investment Entities (PIEs) called the Russell Investment Funds. The new PIE funds provide Kiwi investors with access to Russell's suite of global multi-manager funds on a tax effective basis for the first time.

The funds have been specifically tailored to meet the needs of local New Zealand investors and backed by the manager research and investment strategies that drive Russell's KiwiSaver products.

Implemented Investment Solutions' managing director Anthony Edmonds said giving access to Russell Investments' global expertise and solutions via a locally owned boutique offers New Zealand investors the best of both worlds.

"We have leveraged our own Kiwi investment ingenuity to enhance Russell's global investment proposition by adding the tax benefits associated with PIEs. We are focused on meeting the needs of New Zealand investors, and the new funds take in to account unique market requirements including tax, legislative requirements, portfolio construction and currency hedging.

"In addition to our PIE funds, we are also making some of Russell's offshore funds accessible to retail investment adviser groups and their clients," Edmonds said.

Globally Russell Investments manages more than $198 billion and has been investing funds on behalf of clients since 1969. Director of Business Operations for Russell in New Zealand, Alister van der Maas, said the launch of the new funds marked a significant milestone for the firm in the local market.

"We are committed to making Russell's investment solutions more accessible to New Zealand investors and recognise the importance of delivering tailored products to the local market. We have had positive feedback from clients and will be working on further developments and opportunities ahead of the launch of the PIE funds in June. We are confident that Anthony Edmonds' strong track record of building and distributing funds will bring many benefits to local investors," van der Maas said.

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