Russell has appointed T Rowe Price International (TRPI) to its Global Opportunities Fund.
Growth manager TRPI will manage 15 per cent of the global equities fund, at the expense of Axiom, who see their share of the fund drop from 25 to 10 per cent. In dollar terms there has been no change to Axiom's holdings.
"The adding of TRPI is a function of how the fund has been growing and we have now reached a size where the time was right to add another manager," Russell portfolio manager Kathy Cave said.
"TRPI's style of fundamental growth investing will complement the investment strategies already operating within the fund," Cave said.
The other managers are MFS, who focuses on fundamental research on companies with good cash flow and earnings prospects at relatively low valuations, who manage 40 per cent of the fund and Arrowstreet, a quantitative manager, with 35 per cent. Axiom's style is to analyse companies with better than expected fundamental momentum.
Russell's Global Opportunities Fund has $771 million in Australian sourced funds under management and was launched in December 2004.
