In connection with this, a preliminary proxy statement was filed with the Securities and Exchange Commission related to the replacement of US One, with Russell Investment Management as the investment adviser to the One Fund.
US One, the investment advisor to the One Fund, a diversified equity ETF of ETFs which provides exposure to 95% of the global stock markets with the objective of long-term investment growth.
President of US One, Paul Hrabal, will work with Russell Investments as a consultant to the ETF business.
The acquisition is subject to shareholder approval and is expected to close during February.
Russell global ETF business managing director Jim Polisson said the acquisition of US One provides Russell with a platform to play a unique role in this dynamic and fast moving growth arena.
"By acquiring US One, we can more immediately leverage our proprietary research to extend the options available to investors and include ETFs in our suite of products that we deliver to the marketplace," Polisson said.
