VicSuper has awarded $3.8 billion in index investment mandates to BlackRock Investment Management.
BlackRock will manage Australian equity, fixed income, cash and global fixed income indexes for the superannuation fund.
BlackRock Australia chief executive Damien Frawley said VicSuper's decision to outsource its investment management at a time when other funds were insourcing was a testament to BlackRock's organisational culture.
"The relationship between BlackRock and VicSuper has grown out of important shared values. We are both signatories to the United Nations-backed Principles for Responsible Investment and act on the belief that excellent corporate governance is essential for sustainable value-creation," Frawley said.
The announcement of the first BlackRock mandates for VicSuper coincided with 40th anniversary of BlackRock's invention of the first index fund in 1971, said Frawley.
