Major Western Australian-based public sector fund the Government Employees Superannuation Board (GESB) has awarded Mellon Global Investments Australia a significant global equity mandate, to be managed by Mellon subsidiary Newton Investment Management.

Announcing the mandate, GESB chief executive Michele Dolin said it was a part of a broader strategy and was expected to be an important contributor to overall fund performance.

The Newton methodology utilises a bottom-up stock selection process, with the company being regarded as a pioneer in thematic investment.

Mellon Global Investments managing director James Gruver said Newton had nearly 30 years experience investing on a global thematic basis, and its global equity strategy had outperformed the benchmark in each of the past 10 calendar years.