TOWER appoints Russell to manage $2.6 billion multi-manager funds

TOWER Investment today announced the appointment of Russell Investment Management (Russell) to manage its multi-manager investment product range.  This is an exciting development for TOWER, its advisers and customers.

TOWER Investment’s strategy is to be a leading provider of simple, packaged investment solutions by partnering with some of the best manufacturers to deliver easy-to-understand, well serviced offerings to our advisers in the superannuation, retirement and managed funds markets.  TOWER and Russell will be working closely to provide effective, simple and consistently performing products to assist advisers in meeting the needs of TOWER clients.

Bringing a highly rated, global investment capability to our advisers and their clients is also a major priority.

Our partnership with Russell places us firmly on track to achieve our strategic goals over the next few years.

Russell is the ‘preferred’ and only ‘highly recommended’ multi-manager as rated by independent research house, Lonsec (2006 + 2005). Russell manages over A$3.2 trillion in assets under advice worldwide but retains a strong local focus in Australia – and will be working closely with TOWER and our adviser network. Building a partnership with our key advisers is the key to our success.

We are very excited about our new partnership and will be communicating progress of the transition to Russell regularly in the coming months.

A copy of the media release which is being issued tomorrow is available here for your information.

We look forward to continuing to work with you. Thank you for your ongoing support.

Regards

Grahame Evans
CEO, TOWER Investment

Disclaimer
This document has been prepared to be used by financial planners and advisers only. It is not to be provided to individual clients. The information contained in this document is general information only and cannot be considered to be financial advice. The information does not take account of the investment objectives, financial situation or particular needs of any particular client. To the extent permissible by law, TOWER Australia Limited (ABN 70 050 109 450, AFSL 237848) and its related companies (TOWER) specifically disclaims any liability that may arise for any direct, indirect, incidental, consequential or special damages that may arise from the access to or use of this document. No liability is accepted by TOWER for errors and omissions or for loss or damage suffered as a result of reliance on this document.

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TOWER Australia Ltd
A.B.N. 70 050 109 450
AFSL Number 237848