FINANCE: Schroders expands global funds range following alliance

Schroders Private Bank has formed an alliance with the Frank Russell Company to offer charities a wider range of global funds.

Under the deal, Schroders' 280 charity clients will have access to Russell's funds, comprising a selection of investment managers, managing segregated portfolios. Usually charity investors would not have access to funds designed for large institutional investors.

The funds will be used, together with Schroders own funds, to construct charity client portfolios, a practice known as open architecture or multi-manager.

Sally Tennant, chief executive of Schroders, said: "This alliance plays to both our strengths - we provide innovative, bespoke investment solutions, Russell is renowned for its expertise in researching and selecting the best managers. We believe that such as openness of funds and services is the next step for private banks - particularly as choice and objectivity become more sought after."

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