Government agency, ACT Treasury has hired the Russell Investment Group (Russell) as its asset consultant replacing Frontier Investment Consulting.
Under a five-year agreement, Russell will provide advice to the government department's two accounts, the Superannuation Provision Account (SPA) and the Territory Banking Account (TBA).
Russell will develop and implement investment objectives, strategies, benchmarks, fund manager research and investment advice for the two schemes.
"Russell's access to global capital market and investment manager research and its comprehensive client advice were compelling features in forming the ultimate decision," ACT Treasury's central financing unit manager Pat McAuliffe said.
Globally Russell manages over $2.5 trillion in institutional assets.
The ACT Department of Treasury manages the investment assets on behalf of the Australian Capital Territory.
