MutualFundWire.com: Via a New Quintet, an 89YO AM Enters ETF World
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Tuesday, June 10, 2025

Via a New Quintet, an 89YO AM Enters ETF World


The folks at an 89-year-old, $332-billion-AUM*, multi-manager, private-equity-backed fund firm in the state of Washington are entering the ETF business with their first five exchange-traded funds. A familiar ETF industry veteran is leading the charge.

Edward A. "Ed" Rosenberg
Russell Investments
Head of ETF Product
This morning, Kate El-Hillow, president and chief investment officer of Russell Investments [profile], and Brad Jung, head of advisor and intermediary solutions for North America at Russell, conirmed the recent debut of Russell's first five ETFs:
  • the Russell Emerging Markets Equity Actuve ETF (REMG on the Nasdaq);
  • the Russell Global Equity Active ETF (RGLO);
  • the Russell Global Infrastructure Active ETF (RIFR);
  • the Russell International Developed Equity Active ETF (RINT); and
  • the Russell U.S. Small Cap Equity Active ETF (RUSC).
    • Seattle-based Russell Investment Management, LLC (RIM) serves as investment advisor to RUSC, RINT, RIFT, RGLO, and REMG.

    News of Russell's first ETF launches comes less than three months after the return of a key Russell alumnus who is a veteran of the ETF industry. A spokepserson for Russell confirms that Ed Rosenberg rejoined the fund firm on March 31, 2025 as head of ETF product. Rosenberg now reports to Ravi Arulanantham, global head of product at Russell, the spokesperson confirms.

    RIFR, RINT, and RUSC's inception date was May 13, while RGLO and REMG's inception date was May 29. The new ETFs' expense ratios are:
  • REMG, 64 basis points (baking in a 15bps fee waiver);
  • RGLO, 49bps (baking in a 10bps fee waiver;
  • RUSC, 64bps (baking in a 5bps fee waiver);
  • RIFR, 59bps; and
  • RINT, 49bps (baking in a 10bps fee waiver).
    • All four fee waivers are promised through January 28, 2027.

    Each of the new ETFs has its own subadvisors. RINT and RGLO share their subadvisors, including:
  • Algert Global LL;
  • Intermede Investment Partners Limited and Intermede Global Partners;
  • Pzena Investment Management, LLC; and
  • Wellington Management Company LP.

    • RIFR's subadvisors include:
  • Cohen & Steers Capital Management, Inc.;
  • Cohen & Steers Asia Limited;
  • Cohen & Steers UK Limited; and
  • First Sentier Investors (Australia) IM ltd.

    • RUSC's subadvisors include:
  • Ancora Advisors, LLC;
  • Boston Partners Global Investors, LLC;
  • Calamos Advisors, LLC;
  • Copeland Capital Management, LLC;
  • DePrince, Race & Zollo, Inc.;
  • Jacobs Levy Equity Mnaagmenet, Inc.
  • Lord, Abbett & Co. LLC
  • Penn Capital Management Company, LLC; and
  • Ranger Investment Company, L.P.

    • REMG's subadvisors include:
  • Axiom Investors LLC;
  • Barrow, Hanley, McWhinney & Strauss, LLP;
  • Numeric Investors LLP;
  • Oaktree Fund Advisors, LLC;
  • Pzena Capital Management, LLC; and
  • Sands Capital Management, LLC.

    • Ryan Parker, portfolio manager, customized portfolio solutions and equity, serves on the PM team for each of the 5 Russell ETFs so far.

    REMG's other PM is Soeren Soerensen, senior PM, equity.

    RGLO and RINT's PM team includes Jodan McCall, director, senior PM, equity.

    RIFT's other PM is Patrick Nikowem, director of listed real assets.

    RUSC's other PMs include: Nick Haupt, senior PM, equity; and Megan Roach, senior director, co-head of equity PM.

    El-Hillow describes Russell's 1st five ETFs as "a game-changer as building blocks for advisors and investors looking to maximize exposeu to specialist active management in key global asset classes without the complication of researching managers and constructing portfolios themselves."

    "We designed these ETFs to reflect our disciplined, multi-manager investment process— delivered in a way that's accessible for individual investors," El-Hillo states.

    Jung highlights Russell's "open-architecture approach" to the new ETFs.

    "We are excited to use the ETF structure to deliver our best investment ideas to our advisor and investor partners," Jung states. "We're making it even easier for advisors to deliver sophisticated, active management while spending more time on what truly sets them apart — building stronger client relationships.

    Rosenberg applauds the Russell team for their "strong manager research and ... unique time-tested approach to blending multiple investments into one portfolio."

    "Russell Investments has been researching managers for more than five decades," Rosenberg states.

    RUSC, RINT, RIFT, RGLO, and REMG are actively managed series of Russell Investments Exchange Traded Funds. The new ETFs' other service providers include:
  • ACA's Foreside Fund Services, LLC as distribution;
  • PricewaterhouseCoopers LLP as independent accounting firm;
  • Russell Investments Fund Services, LLC (RIFUS) as administrator; and
  • State Street Bank and Trust Company as custodian, dividend disburing agent, and transfer agent.

    • Rosenberg most recently served as managing director, head of ETFs and funds management at Texas Capital Bank. He joined the bank in 2023 after serving in leadership roles at American Century and Northern Trust. He spent two years with Russell more than a decade ago, and prior to that he spent more than 14 years with Vanguard. He is an alumnus of Muhlenberg College and of Penn State University.

    *As of March 31, 2025.


    Printed from: MFWire.com/story.asp?s=70016

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