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Russell plans to acquire ETF provider US One


Russell Investments plans to acquire US One, Inc, the investment advisor to the One Fund, an ETF traded on the New York Stock Exchange (NYSE Ticker: ONEF).

One Fund, a diversified global equity ETF of ETFs, provides exposure to 95% of the world’s stock markets with the objective of long-term investment growth. With this move, Russell has taken another step toward establishing its US exchange-traded funds business.

A preliminary proxy statement was filed with the Securities and Exchange Commission today related to the replacement of US One, Inc with Russell Investment Management Company as the investment adviser to the One Fund. A shareholder vote to approve this change is scheduled for mid-February and the acquisition of US One, Inc by Russell Investments is anticipated to close shortly thereafter.

“Russell continues to build the infrastructure for viable and comprehensive ETF offerings,” says Jim Polisson, managing director of Russell’s global ETF business. “The acquisition of US One provides Russell with a platform to play a unique role in this dynamic and fast moving growth arena. By acquiring US One, we can more immediately leverage our proprietary research to extend the options available to investors and include ETFs in our suite of products that we deliver to the marketplace.”

The anticipated acquisition of US One, Inc follows the successful launch of Russell’s ETF business in Australia last year. The Russell High Dividend Australian Shares ETF (ASX ticker: RDV) had U.S. $106 million in assets under management as of December 31, 2010.

Paul Hrabal, President of U.S. One, Inc. will work with Russell Investments as a consultant to the ETF business.

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