Changes to the Russell Investments Global Shares Fund and Russell Investments Hedged Global Shares Fund

Earlier in the year, Russell Investments added two new managers to their Global Opportunities Funds and removed two managers.  This change flowed through to the Russell Investments Global Shares Fund and Hedged Global Shares Fund, which invest in these two underlying funds.

Here is a summary of key changes to the manager line up and weightings:

  • Janus (Perkins) and Quaero Capital were removed from the manager line up, and replaced with Nissay Asset Management (“Nissay”) and Oaktree Capital Management (“Oaktree”).
  • Numeric Investors’ (“Numeric”) investment mandate was updated to include the manager’s global low-volatility strategy.
  • The managers weights have also changed, see table below.

These changes were effective 31 January 2020.  For more information please contact us: www.iisolutions.co.nz/contact

What effect will these changes have on the Fund?
The Fund’s new manager line up, investment styles and target weights are illustrated below.

Manager Role in the Fund Old weight (%) New weight (%)
Sanders Capital, LLC Global value 17.7 22.0
Janus (Perkins) Global value 10.7 0.0
Numeric Investors Global core, global low volatility 12.2 12.5
Fiera Capital Global growth 12.9 10.3
Wellington Management Company LLP Global growth 9.2 7.7
RWC Partners Emerging markets 7.8 6.1
Oaktree Capital Emerging markets 0.0 9.7
J O Hambro Capital Management UK equity 7.7 6.4
QUAERO CAPITAL Japan equity 4.9 0.0
Nissay Asset Management Japan equity 0.0 5.7
Russell Investments Positioning strategies 16.9 19.6

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Old weights were the actual weights from 30 November 2019.  New weights are the actual weights as of 31 January 2020.

Source: Russell Investments.