Russell Investments Reviewing ETF Operations

Russell Investments, the index provider for some of the largest ETFs, announced it is reviewing its own ETF business. According to a statement, the firm is "conducting a strategic review of its direct U.S. ETF business in an effort to focus more exclusively on its core competency – delivering multi-asset solutions to institutional investors, financial advisors and individuals globally." The investment teams responsible for the Russell ETFs will remain in place during the review and the funds will continue trading, but Russell is scaling back its dedicated U.S. ETF team the firm said in the statement. ETFs using Russell indexes have more than $80 billion in AUM, according to the statement. Russell currently sponsors 26 ETFs, including the Russell 1000 Low Volatility ETF LVOL, the newly minted Russell High Dividend Yield ETF HDIV, the Russell Developed ex-U.S. Low Beta ETF XLBT, the Russell Small Cap Contrarian ETF SCTR and the Russell Consistent Growth ETF CONG.