United States $401 Billion Asset Manager Russell Investments Appointed to Manage $8.6 Billion FX Overlay Mandate for Singapore $34 Billion Insurer Income Insurance, FX Overlay Provides Enhanced Transparency Over FX Exposures in Asset Classes & Regions to Enable More Effective Management of Currency Risk (Improve Returns, Manage Risk & Reduce Cost)
27th May 2026 | Hong Kong
United States asset manager Russell Investments ($401 billion AUM) has been appointed to manage $8.6 billion FX (Foreign Exchange) overlay mandate for Singapore insurer Income Insurance ($34 billion AUM). FX overlay provides enhanced transparency over FX exposures in asset classes & regions to enable more effective management of currency risk (Improve returns, manage risk & reduce cost). Announcement (27/5/26): “Russell Investments has been appointed by Income Insurance, one of Singapore’s leading composite insurers, to manage an $8.6 billion1 foreign exchange (FX) overlay mandate across its global investment portfolio. Income Insurance manages a diversified $33.6 billion multi-asset investment programme spanning bonds, equities, and private assets and serving close to 1.4 million customers. Under the mandate, Russell Investments will deliver a customised FX overlay programme to manage Income Insurance’s currency exposures in line with its overall investment objectives. The solution provides enhanced transparency over FX exposures across asset classes and regions, enabling more effective management of currency risk. Russell Investments will also support overlay implementation through a streamlined operating model, leveraging straight-through processing (STP) and direct integration of custodian data. Russell Investments’ currency capabilities include an agency-only model with multi-venue access to more than 25 banks and 50 streaming liquidity providers. In 2025, Russell traded over $630 billion in FX and over 190 currency pairs. Income Insurance’s selection is the latest in a string of leading Asia institutions choosing Russell Investments for implementation solutions that improve returns, better manage risk and reduce cost. In 2025, Mitsubishi Corporation Pension Fund tapped Russell Investments for Enhanced Portfolio Implementation (EPI), reducing manager fees by 30%, lowering trading costs, and shortening reporting time from 9 hours to 90 minutes.”
“ United States $401 Billion Asset Manager Russell Investments Appointed to Manage $8.6 Billion FX Overlay Mandate for Singapore $34 Billion Insurer Income Insurance, FX Overlay Provides Enhanced Transparency Over FX Exposures in Asset Classes & Regions to Enable More Effective Management of Currency Risk (Improve Returns, Manage Risk & Reduce Cost) “
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David Chua, Chief Investment Officer, Income Insurance: “Russell Investments stood out for its portfolio hedging and implementation expertise. The proposed solution aligns with Income Insurance’s investment model towards operating efficiencies and execution capabilities.”
Jason Edgar, Head of Asia-Pacific at Russell Investments: “We are proud to serve one of Asia’s leading insurers and see Income Insurance’s appointment as a clear sign of the rising demand for currency solutions. Delivering efficient implementation to improve returns for insurers and family offices is a core part of our continued expansion in Asia.”
Alistair Martyres, Director, Customised Portfolio Solutions, Asia-Pacific at Russell Investments: “Institutional investors are placing greater emphasis on how currency exposures are managed within complex global portfolios. FX management has become an increasingly important component of portfolio implementation and risk management. A disciplined overlay programme can provide greater transparency across currency exposures while supporting more efficient and consistent execution.”
Russell Investments – Russell Investments is a leading global investment solutions partner providing a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Since 1936, Russell Investments has been building a legacy of continuous innovation to deliver exceptional value to clients, working every day to improve people’s financial security. The firm has USD$401 billion in assets under management (as of 5/12/26) for clients in 31 countries. Headquartered in Seattle, Washington, Russell Investments has offices in 17 cities around the world. Russell Investments’ ownership is composed of a majority stake held by funds managed by TA Associates Management, L.P., with a significant minority stake held by funds managed by Reverence Capital Partners, L.P. Certain of Russell Investments’ employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.
Income Insurance – Income Insurance Limited (“Income Insurance”) is one of the leading composite insurers in Singapore, offering life, health and general insurance. Established in 1970, the company serves the protection, savings and investment needs of individuals, families and businesses. Income Insurance has more than 1.4 million customers and approximately S$43 billion in assets under management as at 31 December 2023.
United States $401 Billion Asset Manager Russell Investments Appointed to Manage $8.6 Billion FX Overlay Mandate for Singapore $34 Billion Insurer Income Insurance, FX Overlay Provides Enhanced Transparency Over FX Exposures in Asset Classes & Regions to Enable More Effective Management of Currency Risk (Improve Returns, Manage Risk & Reduce Cost)
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