Russell Investments has seen assets under management at its EMEA fiduciary management business reach £7bn ($11.3bn), with £1bn of new business coming in over the last 12 months.
The asset manager said fiduciary clients range in size from schemes with assets of more than £2bn to smaller funds with assets under £7m, and believes there is growing demand from smaller schemes.
Shamindra Perera, who heads the Russell EMEA fiduciary management team, said interest was growing among funds on the lower end of the scale.
"Given their resource constraints, the benefits of fiduciary management are even more compelling for small to mid-sized funds," he added. "Clients are seeing the benefits not just in improved governance and asset management but in their funding levels. This is primarily due to improved ability to respond quickly to the changing markets.
"The team has access to a diverse range of expertise from investment strategy design and asset allocation, through multi asset, multi manager investments to derivatives overlays, transition management, FX and other implementation services.
"While there are other firms that can claim to have some expertise in each of these areas, Russell is unique in that we offer independent, market leading solutions in all of these areas."
As a result of growing interest in the service, Russell has expanded its EMEA fiduciary management team with the appointments of Gary Yeaman from Shell Asset Management; Sarah Zambonini from Aon and Henk Radder from Russell's consulting team.
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