Avista Corp. Hires Russell to Manage its Defined Benefit Plan.Business Editors TACOMA, Wash.--(BUSINESS WIRE)--March 15, 2000 Spokane-based Avista Corp. (NYSE NYSE See: New York Stock Exchange :AVA Ava, in the Bible Ava (ā`və), in the Bible, an unidentified city of Mesopotamia, perhaps the same as Ivah. Its inhabitants are called Avites. ) has hired Frank Russell Frank Russell may refer to the following people:
The new relationship between two leading Washington companies marks the first time Avista Corp. has outsourced the management of its entire retirement plan. The fund assignment aims at strengthening overall long-term plan performance for 1,968 Avista employees and retirees. "The Russell philosophy, particularly the company's manager-of-managers approach to investment management, makes good long-term sense to us," said Avista's Ronald R. Peterson, vice president and treasurer. Avista Corp. will employ Frank Russell Trust Company's services for investment management, custody, trusteeship, performance reporting, and asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. advice. "This relationship allows us to focus on Avista's core business and leverage Frank Russell's experience and resources to deal with all the intricacies of selecting the best investment managers," Peterson said. "Russell will implement our investment program within policy guidelines established by our investment committee." Avista Corp. is an energy, information and technology company whose utility and subsidiary operations focus on delivering superior products and providing innovative solutions to business and residential customers throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Avista Corp.'s affiliate companies include Avista Utilities, which operates the company's electric and natural gas generation, transmission and distribution business. Avista's non-regulated businesses include Avista Advantage, Avista Labs, Avista Communications, Avista Energy, Avista Energy Canada, Ltd., Avista Power, Avista Development and Pentzer Corporation. Avista Corp.'s stock is traded under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "AVA." For more information about Avista Corp. and its affiliate businesses, visit the corporate website at www.avistacorp.com. Frank Russell Company, one of the world's leading investment management and advisory firms, provides investment advice, analytical tools and investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company to institutional and individual investors in more than 30 countries. Russell's investment management business employs a manager-of-managers approach with $60 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . The company has retainer consulting relationships with clients representing more than US$1 trillion worldwide. Russell became a subsidiary of The Northwestern Mutual Life Insurance Company in January, 1999. Founded in 1936, Russell is headquartered in Tacoma, Wash., and has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information on Russell, visit the corporate website at www.russell.com. Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation. All other trademarks mentioned in this document are the property of their respective owners. Frank Russell Company, a Washington, USA corporation, operates through subsidiaries worldwide. |
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