NAB Asset Management-linked global equity boutique, Intermede Investment Partners has picked up a mandate from TWU Super.
Confirming the mandate this week, Intermede chief executive, Barry Dargan described it as “significant”.
“We’ve now been managing the same global equities strategy for three years with US$1.8 billion ($2.4 billion) in funds under management (FUM), and this mandate is testament to the quality of the team, the robustness of our process and a proven track record,” he said.
Intermede is a bottom-up, research lead investment manager that looks for companies with demonstrated long-term sustainable competitive advantage, which allows them to continue to deliver higher growth and returns than the industry in which they operate
TWU Super chief investment officer, Andrew Killen, said the fund was pleased to add a high-quality boutique like Intermede to its investment strategy.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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