Russell Implementation Services has been selected by Qantas Superannuation to offer foreign exchange (FX) services, Pensions & Investments reports. The subsidiary of Russell Investments will offer FX services to the fund’s active global equity and alternative investments.
The $6 billion fund outsourced the foreign exchange services mandate to save up to $1 million every year. The FX model was set up in 2003 and has passed $86 million in total cost savings for global equities funds and other institutional clients until now, adds Financial Standard.
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