UniSuper has decided to move its remaining $630 million passively managed international shares portfolio into an enhanced mandate, transferring the money from State Street Global Advisors’ (SSgA) management to that of Barclays Global Investors (BGI).
However, UniSuper says the ongoing management of its other $630 million enhanced passive mandate in international shares will continue with SSgA.
The fund also reveals that it is close to completing a major review of both its hedge funds and property portfolios combined with looking at the potential cost-savings which might flow from a directed brokerage arrangement.
UniSuper CEO Ann Byrne says the latest move into enhanced passive has been spurred on by the success of the fund’s earlier shift into enhanced passive management for international and Australian shares. It is also in line, she says, with UniSuper’s objective of seeking greater value above market benchmarks after costs.
The review had involved an analysis of both the features and potential returns available in passive and enhanced strategies.
