Russell Index ETFs Nearer To Launch

May 16, 2011

Russell looks closer to launching 'investment discipline' lineup of index ETFs.

Russell Investments, the Seattle-based money management and indexing firm, filed paperwork with the Securities and Exchange Commission suggesting it is near to launching a lineup of eight so-called investment-discipline ETFs.

The company unveiled ticker symbols and annual expense ratios for the ETFs, which often suggests that the launch of the funds may come soon, if not imminently. The company first put the funds into registration almost a year ago in a lengthy filing that detailed a total of 17 new funds.

The ETFs, their tickers and their annual expense ratios are:

  • Russell Aggressive Growth ETF (NYSEArca: AGRG), 0.37 percent
  • Russell Consistent Growth ETF (NYSEArca: CONG), 0.37 percent
  • Russell Growth at a Reasonable Price ETF (NYSEArca: GRPC), 0.37 percent
  • Russell Contrarian ETF (NYSEArca: CNTR), 0.37 percent
  • Russell Equity Income ETF (NYSEArca: EQIN), 0.37 percent
  • Russell Low P/E ETF (NYSEArca: LWP), 0.37 percent
  • Russell Small & Mid Cap Defensive Value ETF (NYSEArca: SMDV), 0.45 percent
  • Russell Small Cap Defensive Value ETF (NYSEArca: SCEQ), 0.49 percent

 

Russell may be a latecomer to actually marketing exchange-traded funds, but it has clearly signaled it aims to offer a comprehensive lineup of funds. The company’s strategy also includes actively managed funds as well. It gained permission to market active ETFs through its acquisition of Reno, Nev.-based U.S. One, the small startup behind the fund-of-funds global equity ETF, the One Fund (NYSEArca: ONEF).

Last year, Russell hired Greg Friedman, a former high-ranking executive at San Francisco-based iShares, the world’s biggest ETF firm. Friedman left at the time that Lee Kranefuss stepped down from his post as iShares’ chairman. Russell’s ETF arm is also based in San Francisco.

Related Indexes Launched

Separately, the company today launched a family of related Russell Investment Discipline Indexes.

It said the new indexes include:

  • Russell U.S. Large Cap Aggressive Growth Index
  • Russell U.S. Large Cap Consistent Growth Index
  • Russell U.S. Large Cap Growth at a Reasonable Price (GARP) Index
  • Russell U.S. Large Cap Equity Income Index
  • Russell U.S. Large Cap Low P/E Index
  • Russell U.S. Large Cap Contrarian Index.

“These new indexes represent the performance and risk of some of the most commonly used investment strategies, and they will provide additional tools to gain exposure to these strategies through index-linked investment products,” Rolf Agather, managing director of index research and innovation at Russell, said in a press release.

 

 

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