The latest in funds and investments in North America.

OneAmerica®, Russell Investments
OneAmerica®, the US mutual insurance holding company, and global asset manager Russell Investments have launched a Personalized Retirement Accounts solution to support defined contribution plan clients.

The solution can account for assets that are outside of the employer’s retirement plan. PRA also features a personalized investing approach, a 3(38) fiduciary component over the participant’s asset allocation and an outsourced investment solution.

“This is a great way for financial advisors to change the conversation from funds, fees and fiduciary to retirement readiness,” Jay Breitenkamp, business development director, defined contribution, advisor and intermediary solutions, with Russell Investments, said. “We believe the Personalized Retirement Accounts solution is an upgrade to the retirement savings experience for the plan sponsor because we view it as a big ‘easy button’ for participants in that PRA does it for them when they may not have the time, interest or inclination to do it themselves.”

From a recent survey by OneAmerica® of more than 12,000 OneAmerica-serviced retirement plan participants, respondents indicated that their top financial concern is not having enough for retirement.

RMG
RMG, the investment banking, fund management, and advisory firm has held the final closing of $64 million of its Israel-based RMGP Biopharma Investment Fund. The organization said it has added “significant” institutional, family office and strategic life science investors from South Korea, the US, Europe and Israel.

The closing continues the strategic collaboration of RMG, the fund's manager, with the FutuRx Biopharma incubator and its partners, OrbiMed Israel, Johnson & Johnson Innovation, and Takeda Ventures - who jointly established FutuRx in cooperation with the Israel Innovation Authority.

The capital supports development of biotherapeutics in areas including oncology, central nervous system disorders, orphan diseases and others.

The initial closing was held in May 2017. To date, its portfolio consists of 11 companies, representing investments in both seed and follow-on rounds, including the recent BiomX Series B financing. The BiomX financing illustrates RMG's ability to support continued investment in FutuRx companies at more advanced stages of development.

RMG concentrates on life sciences and has a 27-year track record.