“The Casey Family Program, a Seattle-based private operating foundation that provides long-term foster care, has hired Tacoma-based Frank Russell Company to provide consulting and investment management services to its Board of Trustees concerning strategic investment policies and management of its $2 billion investment portfolio.Casey’s strategic relationship with Russell allows the organization to focus on its core competencies, assigning Russell the responsibility of developing and implementing investment strategies for the organization’s $2 billion fund. Through investment management subsidiaries and using its proprietary manager-of-managers investment approach, Russell will invest approximately $1.4 billion of the organization’s $2 billion fund.Casey relies on its investment to finance an array of permanency planning programs and services for children and youth. Long-term foster care is the program’s core function.Casey had employed Russell’s investment consulting services for four years prior to establishing this full-service strategic relationship. Casey wanted to access Russell’s portfolio structuring, manager selection, and implementation skills, finding this as a cost-effective outsourcing solution. With this new relationship, Casey will utilize Russell’s advisory and investment management services as an integrated package. Casey will delegate to Russell staff the management of the program’s U.S. equity, international equity, and fixed income portfolios.“Our long-term focus is on improving family welfare, and as our funds have frown we needed to find a way to ensure professional and strategic management of assets on an ongoing basis,” said Richard D. Ford, president of the program’s Board of Trustees. “The research and management capabilities, combined with the long-range performance benefits of Russell funds, led us to broaden our relationship with Frank Russell Company. This allows our board to focus on the primary programs of the agency while Russell takes direct responsibility for selecting and managing the managers in our investment portfolio.”The Casey Family Program is a Seattle-headquartered private operating foundation, established by Jim Casey, founder of United Parcel Service, in 1966. Casey services include adoption, kinship care, guardianship and family reunification. The program has 28 offices in 14 states.”