Russell Investments announced today its intent to acquire U.S. One, Inc., a registered investment advisor and ETF provider. U.S. One, Inc. is the investment advisor to the One Fund, an ETF traded on the New York Stock Exchange (NYSE:ONEF). One Fund, a diversified global equity ETF of ETFs, provides exposure to 95% of the world’s stock markets with the objective of long-term investment growth. With this move, Russell has taken another step toward establishing its U.S. exchange-traded funds business.
“Russell continues to build the infrastructure for viable and comprehensive ETF offerings”
A preliminary proxy statement was filed with the Securities and Exchange Commission today related to the replacement of U.S. One, Inc. with Russell Investment Management Company as the investment adviser to the One Fund. A shareholder vote to approve this change is scheduled for mid-February and the acquisition of U.S. One, Inc. by Russell Investments is anticipated to close shortly thereafter.
“Russell continues to build the infrastructure for viable and comprehensive ETF offerings,” said Jim Polisson, managing director of Russell’s global ETF business. “The acquisition of U.S. One provides Russell with a platform to play a unique role in this dynamic and fast moving growth arena. By acquiring U.S. 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.”
The anticipated acquisition of U.S. One, Inc. follows the successful launch of Russell’s ETF business in Australia last year. The Russell High Dividend Australian Shares ETF (ASX:RDV) had U.S. $106 million in assets under management as of December 31, 2010.
Paul Hrabal, President of U.S. One, Inc. will work with Russell Investments as a consultant to the ETF business.
About Russell Investments
Founded in 1936, Russell Investments is a global financial services firm that serves institutional investors, financial advisers and individuals in more than 40 countries. Over the course of its history, Russell’s innovations have come to define many of the practices that are standard in the investment world today, and have earned the company a reputation for excellence and leadership. The firm has $155.4 billion in assets under management, as of December 31, 2010. To see how Russell helps to improve financial security for people, visit www.russell.com.
Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company.
Russell Investments is the owner of the trademarks, service marks and copyrights related to its indexes.
Russell’s indexes are unmanaged and cannot be invested in directly.
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