The firm said it is planning to develop more retail products with focus on both growth and income, as it sees a growing demand for both types in the UK.

Russell’s £760 million ($1.18 billion) Multi Asset Growth Strategy Fund, launched in December 2009, is set to be the basis for a new retail equivalent, the firm said. The growth-focused fund aims to achieve equity-like returns, but with two-thirds of the volatility of the equity markets.

Demand for income will be met by a new product, of which few details were disclosed.

Seattle-headquartered Russell Investments, which services both institutions and individuals, had $152 billion in assets under management at the end of June.