Russell Investments is consolidating its line of mutual funds. Emii.com reports that the company plans to merge five retail funds with five institutional funds. A spokeswoman for Russel told the pub that the company hopes the mergers will make it easier for clients and advisors to understand the funds' strategies. The new funds created by the merger will be available in A, C, S and I shares.

Russell also announced today that its CEO, Craig Ueland would be exiting the company. 

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