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Deals & People January 12, 2011
Russell to Acquire ETF Provider
Russell Investments announced its intent to acquire U.S. One,
Inc., a registered investment adviser (RIA) and exchange-traded fund (ETF) provider.
Reported by Rebecca Moore
U.S. One, Inc. is the investment adviser to the One Fund, a diversified global equity ETF of ETFs traded on the New York Stock Exchange (NYSE Ticker: ONEF) that provides exposure to 95% of the world’s stock markets with the objective of long-term investment growth, according to the announcement.
A preliminary proxy statement was filed with the Securities and Exchange Commission related to the replacement of U.S. 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 U.S. One, Inc. by Russell Investments is anticipated to close shortly thereafter.
Paul Hrabal, President of U.S. One, Inc. will work with Russell Investments as a consultant to the ETF business.