MLC has rebalanced its global shares strategy, leading to the addition of Delaware Investments and the removal of Capital International.
Delaware Investment’s allocation within the strategy is now 11.5 per cent, and Capital International has gone from 8.5 per cent to zero.
MLC head of equities Jonathan Armitage said while the global shares strategy had outperformed in the weak and volatile markets of recent years, "we’re always looking for ways to improve".
"We need to do better than the market in all conditions, and we’re now rebalancing the strategy so it can outperform in rising as well as falling markets", said Armitage.
"Delaware Investments’ Focus Growth Team is an outstanding addition to our manager line-up. While we’ve had a long and successful relationship with Capital International, we think Delaware Investments can better deliver on the strategy’s current requirements," he said.
The changes will affect the MLC Global Share Fund, the MLC Hedged Global Share Fund and global shares strategies in the MLC Horizon Series and MLC Long-Term Absolute Return Portfolio.
Capital International has been retained as the emerging markets manager in the MLC Long-Term Absolute Return Portfolio, added Armitage.
