Products July 8, 2010

Russell Launches Multi-Manager Commodity Strategies Fund

 Russell Investments has launched what it says is the first U.S. multi-manager mutual fund with a specific commodities mandate.
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Russell has also added the Commodity Strategies Fund as a new underlying fund to its asset allocation strategies, including LifePoints Funds, Target Date Series and Target Portfolio Series. The fund also is available as a standalone fund for advisers who wish to provide their clients with exposure to energy, industrial metals, livestock, precious metals, grains and softs.

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According to the announcement, the Russell Commodity Strategies Fund is a new mutual fund that will pursue a commodities strategy with the aim of delivering portfolio diversification and exposure to the long-term performance of global commodity markets.  Russell initiated the fund by bringing together two investment managers from separate investment management firms with what was described as “extensive commodities experience”; Credit Suisse Asset Management and Goldman Sachs Asset Management. Both managers have tailored mandates in order to meet the fund’s investment objective, according to the announcement.

The new commodities strategy fund will invest in commodities-linked securities, derivative instruments, cash and fixed income securities that together are intended to provide clients with exposure to the performance of the collateralized commodity futures markets. In addition, Russell says that the fund will invest in a wholly-owned offshore subsidiary that will invest in commodity-linked swaps and other investments in which the fund cannot directly invest for tax reasons.

 “In the continued search for better diversification and broader global opportunities, some investors are looking beyond traditional markets to commodities and real assets. While volatile on their own, when included as a small part of a well-diversified portfolio, a commodities strategy has the potential to lower a portfolio’s overall long-term volatility,” said James Ind, portfolio manager at Russell. “Russell already offers commodities strategies to clients in other markets around the world as well as U.S. foundations and endowments, and now we can provide U.S. retail clients with the opportunity to invest in these strategic assets.”

Additional information about the Russell Commodity Strategies Fund is available at: www.russell.com/us/Investment_Products/Russell_Funds/Commodity_Strategies_overview.asp

Products July 8, 2010

Schneider Downs Wealth Management Advisors, LP Renames Retirement Unit

 

Schneider Downs Wealth Management Advisors, LP has announced a name change for its retirement plan division.

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The firm, an independent investment advisory firm serving both individuals and retirement plan sponsors, says that its retirement plan division will be called SD Retirement Plan Solutions (SD-RPS), effective July 1.  The firm has offices in both Pittsburgh, Pennsylvania and Columbus, Ohio. 

SD-RPS provides plan design guidance, investment advice, retirement income planning, plan administration and concierge type access to financial products and services, and provides service to more than 10,000 retirement plan participants and individual clients in 26 states. 

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“The name change better reflects the independent, unbiased and fiduciary-based solutions for retirement plan and planning issues upon which our division and firm is built,” explains Karl Kunkle, co-managing partner of Schneider Downs Wealth Management Advisors, LP. “When coupled with the expertise and resources of our SD Personal Financial Services (PFS) division, we believe we have a value proposition worthy of consideration by anyone serious about improving their retirement planning outcomes.” 

“We are committed to providing plan sponsors turn-key, cutting-edge and cost-effective retirement plan solutions that help attract, retain and reward key employees while working to provide retirement plan security for all plan participants,” says Jeff Acheson, partner, SDWMA. “Our goal is to steadily advance our presence not only in Pennsylvania, Ohio and West Virginia, but continue to be recognized as an industry leader on the national level as well.”   

SD-RPS is integrated with Schneider Downs & Co., Inc., a regional accounting, tax and business advisory services firm.  Combined, the companies host more than 330 employees, 34 of which are shareholders and partners. 

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