Multi-Manager Funds Planned for Japan
July 26, 1999
Frank Russell Co. of Tacoma, Wash. has teamed up with The Bank of Tokyo-Mitsubishi of Tokyo to create a family of multi-manager funds. This will be the first time that multi-manager funds have been available to individual investors in Japan.
The two companies have created the M-CUBE Russell Investment Program, which includes four investment trusts. Such trusts are analogous to mutual funds. The program was introduced July 8 at 48 Bank of Tokyo-Mitsubishi branches and is expected to be available at all 327 branches in Japan by the end of the year.