MINNEAPOLIS, March 5, 2007 (PRIME NEWSWIRE) -- Cornerstone Capital Management, Inc., a Minneapolis-based investment management firm, announced today that it has been awarded a "Hire" ranking from the Russell Investment Group, the world's largest institutional money management consultant.
The recommendation, the highest of Russell's four-tier system, culminated a nine-month long evaluation by Russell, which involved a series of face-to-face interviews as well as extensive analysis of the firm's performance track record, performance attribution, and trading history.
"I'm delighted that we were able to earn the confidence and endorsement of such a prestigious firm as the Russell Investment Group," said Andrew S. Wyatt, chief executive officer of Cornerstone. "In my 21 years in the investment industry, this was the most thorough due diligence process I or any of my colleagues had ever experienced, and the process served to validate our work, our track record and the superb team of analysts we've put together here at Cornerstone."
Russell, known worldwide for its Russell market indices, makes investment manager recommendations to its worldwide base of pension and endowment funds and other large pools of managed assets, which together totals more than $2.4 trillion. The firm ranks managers on a four-tier basis: Four represents Russell's recommendation that the manager be hired; three is a "retain," if the investment firm is already managing money; two designates "monitor," and one "dismiss."
"Cornerstone is one of a small group of domestic stock market large capitalization growth managers in the U.S. who have Russell's 'hire' rating," said Thomas G. Kamp, Cornerstone's president and chief investment officer. "I can't say how proud I am of the team of investment professionals we've put in place over the past year. The quality of our investment research and the investment results are exciting."
About Cornerstone Capital, Inc.
Cornerstone Capital Management, Inc. was founded in 1993 in Minneapolis, Minnesota and is an SEC registered investment advisor. Cornerstone is composed of three divisions: Institutional Investment Management, Private Wealth Management, and the Keystone Mutual Funds.
Investment services include management of US Large Cap Growth equities, tax-exempt and taxable fixed income, and balanced portfolios.
About Russell Investment Group
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in 44 countries. Russell manages more than $190 billion in assets (as of Dec. 31, 2006) and advises clients worldwide representing more than $2.4 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland, and Tokyo.