Russell Investments Exchange Traded Funds added disclosure that RIM managed over $50.4 billion in proprietary registered fund portfolios as of December 31, 2025, alongside terms for Russell Investments’ proposed acquisition. Investors face a Shareholder vote because the transaction would automatically terminate the current advisory agreement and require approval of a replacement.

Key Highlights

  • Fees under the proposed New Advisory Agreement would not exceed the rates currently in effect.
  • Shareholders will consider permitting RIM to modify affiliated subadvisory agreements without shareholder approval.
  • The transaction would automatically terminate the current advisory agreement if completed, and shareholders will vote on a replacement agreement.
  • California Public Employees’ Retirement System is part of the consortium, with no expected material change to day-to-day fund management.

The transaction would automatically terminate the current advisory agreement between Russell Investment Management, LLC and the trust if it is completed. Shareholders will be asked to approve a replacement agreement. The prospectus says the transaction is not expected to materially change the funds’ day-to-day management.

Proposed Ownership Change Added

California Public Employees’ Retirement System is also part of the consortium. The proposed ownership change is not expected to produce any material change in how the funds are managed day to day. The proposed replacement agreement would allow RIM to continue providing investment advisory services to the funds.

Shareholder Vote on Advisory Terms

The agreement will be submitted to fund shareholders for approval at a special meeting expected to take place on or about November 24, 2026. Shareholders recorded as owners on September 1, 2026, will be asked to vote. Under the proposed agreement, RIM would provide advisory services on the same terms as the existing agreement, apart from the effective and termination dates. Fees under the New Advisory Agreement would not exceed those currently in effect for each fund. The prospectus also states that RIM remains the adviser, with no change to the funds’ investment objective, strategy or benchmark.

The Board also approved a separate proposal for shareholders to consider at the special meeting. Shareholders of record will receive a proxy statement with further information about the New Advisory Agreement and the additional subadvisory proposal.