Russell launches Ucits IV fund

multi_asset2Russell Investments is to launch a Ucits IV single manager fund to be run by German boutique managers Mack & Weise Vermögensverwaltung. The OpenWorld Dynamic Assets fund has the flexibility to invest in global equities, short-dated government fixed income, cash and commodities, primarily precious metals. Faisal Rahman, the manager, and Russell’s investment research team have selected Martin Mack and Herwig Weise, founding partners of Mack & Weise, to manage the fund. “The launch of this new fund will mean there are ten of the Dublin-based UCITS IV funds in the range with each fund appointing one manager to run a segregated mandate,” a joint statement says. “The OpenWorld Dynamic Assets fund will complement the others in the range to offer specialist portfolio building blocks.” ©2011 funds europe

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