Russell, the global multi-manager, has appointed T&D Asset Management, the Japanese equity manager, to run $250m (€202.5m) of assets marking the first mandate win outside its domestic market for T&D.

T&D will manage 10% of the assets in Russell's three Japan equity funds, which manage a total $2.5bn. In each fund T&D joins four other managers that run the assets - Societe Generale Asset Management, Barclays Global Investors, Martin Currie and Jardine Fleming.