Frank Russell Company of Tacoma, Wash. has chosen New York asset manager TimesSquare Capital Management to co-manage six U.S. bond funds in a program that brings as many as five management firms together to run individual funds, the company said today.
TimesSquare will oversee Frank Russell Trust Companys $5.1 billion Fixed Income I Fund. It will also co-manage that funds namesake, the $1.4 billion Fixed Income I Fund, which is under the purview of Frank Russell Investment Company. In addition, the company will co-manage a $783 million diversified bond fund, the $438 million Fixed Income III Fund, the $652 million Multistrategy Bond Fund and an insurance product called the Core Bond Fund, which has $109 million in assets. TimesSquare now manages some $2.5 billion for Russell.