ChinaAMC taps Russell to develop FoFs

China Asset Management Company has teamed up with Seattle-based Russell Investments to develop funds of funds. Multi-asset products are viewed as an important way for mutual funds to develop innovative products, said Rachel Wang, Morningstar’s director for manager research in Shenzhen. New products should also help the industry attract new mandates amid declining bond yields and investor jitters following losses in equities last year, industry executives said. The government h…