AustralianSuper has announced a “significant expansion” of its international equities team, welcoming three senior investment management executives to its London office.
Steve Kelly and Anu Narula have been named co-heads of the fund’s High Growth Global Equity Strategy while Colin Moar has been appointed senior portfolio manager, technology equities.
Prior to joining AustralianSuper, Kelly spent three decades at AXA Investment Managers, where he specialised in US equities, working as a fund manager on the firm’s American Growth and US Responsible Growth funds.
Narula makes the move from Mirabaud Asset Management, where he spent over a decade as head of global equities, prior to being named partner in 2022. His résumé also includes roles at AXA Investment Managers, Cadwyn Capital, and Morley Fund Management.
Meanwhile, Moar joins from Barings, where he was a director and investment manager in the technology sector team. His résumé also includes fund manager and analyst roles at RWC Partners, Polar Capital Partners, HSBC Asset Management, and Aviva Investors.
According to AustralianSuper, the three appointments mark a milestone in its international expansion as it continues to internalise the management of over $110 billion in international equities, its single largest asset class allocation.
Approximately a third of the fund’s international equities portfolio is currently internally managed; however, it has flagged intentions to increase this “to a significant majority” over the next seven years.
This, it said, is aimed at creating greater cost efficiency at scale and generating stronger returns to the benefit of members.
More broadly, it expects 70 per cent of all member assets to be managed internally by its investment team by 2030.
“These high calibre appointments are a springboard to further growing our global equities platform, as we continue to expand our overall international investment capability,” said Mark Hargraves, head of international equities at the fund.
“As the fund’s single largest asset class allocation, international equities is integral to providing members with exposure to public markets globally. We believe this enhanced in-house capability and commitment to active management will reduce costs and help generate sustainable long-term performance for 3.4 million members.”
AustralianSuper was the only Australian fund to break the top 20 in the latest Global Top 300 Pension Funds report, moving up two positions this year to rank 16th in terms of total assets.
It manages over $340 billion on behalf of more than 3.4 million members.
Last month, the fund also announced a slew of hires to support its offshore expansion in North America, with Mikaël Limpalaër named head of Americas while Maria Reed took on the role of head of fund services.
Damien Mitchell and Andrew Osborne joined as senior investment directors in real assets.
Additionally, Nick Ward, head of private credit, relocated to New York, and Matthew Choi was also appointed senior investment director, private credit.
