Russell Investments is reviewing its direct US exchange-traded fund business in an effort to focus more exclusively on its core competency – delivering multi-asset solutions to institutional investors, financial advisors and individuals globally.

During the review, the investment management team responsible for the firm's US ETFs will remain in place, and the products will continue to pursue their respective investment objectives.

However, Russell is scaling back its dedicated US ETF team, primarily based out of the firm's San Francisco and New York City offices.

Russell remains the underlying index provider for many ETFs around the world, with more than USD80bn in assets under management, and will continue its partnership with each of these ETF sponsors. The firm will announce additional details once the review is completed.