Deals & People March 15, 2010

Russell to Expand Global Alternatives Team

Russell Investments is expanding its manager research and consulting advisory services globally in an effort to deepen capabilities in less traditional strategies such as active commodities, private investments, and higher-alpha-driven strategies.
Reported by

According to a press release, the expansion includes plans to appoint more than 25 new specialist resources to Russell’s global talent pool in Australia, Asia, Japan, Europe, and the Americas. The new resources include senior consultants, senior investment strategists, and manager research analysts.     

In Australia, Nicole Connolly has been appointed as head of alternatives advice. She will be responsible for directing Russell’s alternative strategy for consulting clients and joins Russell from Telstra Super where her most recent role was portfolio manager – alternative assets.   

In addition, several internal moves to alternatives-focused roles include Paul Kreiselmeier, senior research analyst; Leola Ross, senior investment strategist; Lee Kayser, research analyst; and Mark Paris, senior research analyst. These roles reside in the U.S. and are integrated into Russell’s global investment network.

Products March 15, 2010

Schwab Offers Four PIMCO Muni Bond Strategies

Charles Schwab & Co., Inc. is expanding its fixed income offerings with four Municipal Bond Ladder Separately Managed Account (SMA) strategies managed by PIMCO.
Reported by

Schwab said the strategies are designed for fixed income investors seeking tax-advantaged solutions and income generation as well as ongoing professional management.     

According to a press release, investors work with their Schwab consultant or an independent investment adviser to select one of four strategies, each composed of 10 or more rungs for diversification:

  • PIMCO 1-12 Year Municipal Bond Ladder Separately Managed Account Strategy
  • PIMCO 1-18 Year Municipal Bond Ladder Separately Managed Account Strategy
  • PIMCO 1-12 Year California Municipal Bond Ladder Separately Managed Account Strategy
  • PIMCO 1-18 Year California Municipal Bond Ladder Separately Managed Account Strategy

Laddering municipal bonds involves buying municipal bonds that mature at staggered future dates to help minimize overall exposure to interest rate fluctuations while providing tax-exempt income. The Schwab-sponsored PIMCO Municipal Bond Ladder SMAs employ a professionally managed buy-and-hold strategy with a focus on investment selection and ongoing credit monitoring.      

The SMAs have an investment minimum of $250,000 and a program management fee of 0.35% for the first $1 million invested, 0.30% for the next $4 million and 0.25% for investments above $5 million.   

The PIMCO Municipal Bond Ladder strategies are available through Schwab’s Managed Account Connection program.

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