Frank Russell increases value play in Japanese equities

Frank Russell has added Scudder to its existing manager line-up for the $1.2bn Russell Japan equity portfolio it runs. Scudder will manage 22% of the yen-denominated funds, which are domiciled in Japan and Dublin, along with JP Morgan and Jardine Fleming, which each manage 27.5%, and TCW which manages 22.5%. Russell Funds found the level of risk in the fund had been increasing since the start of 1999 and has attributed this to the increased volatility and extreme polarisation of the Japanese equity market. This was exacerbated by the two style-special managers, TCW, a value house and Jar...