Russell plans ETF business with US One takeover

The move is part of Russell's strategy to establish a US ETF business, having launched its first ETF in Australia last year. The One Fund is an ETF of ETFs, investing in a diversified portfolio of over 5000 large- and small-cap equities. The fund is currently weighted 69% in US, 5.8% in Japanese and 5.6% in UK securities. Almost half of its assets are invested in the Vanguard Large-Cap ETF, with a fifth going to Vanguard's Small Cap ETF and another fifth to the Vanguard Europe Pacific ETF. One Fund's prospectus reveals that it is based on US One's long-term, buy-and-hold approach to...