POWERED BY MOMENTUM MEDIA
CBA gives $200m mandate to UK equity firm
The Commonwealth Bank of Australia has awarded a $200 million global equity mandate to London-based equity firm Ardevora Asset Management.
The superannuation fund mandate will be managed by Ardevora founder Jeremy Lang, and partners William Pattisson, Gianluca Monaco and Ben Fitchew.
Ardevora was formed five years ago and has US$1.5 billion of assets under management.
It runs four specialist equity strategies: global long-only, global long/short, UK long/short and UK equity income.
The firm uses cognitive psychology to exploit biases in three participants in the equity markets: company management, analysts and investors.
"We are extremely proud to be working with the CBA and it is a strong validation of the process we follow," Lang said.
Recommended for you
Infrastructure well-positioned to hedge against global uncertainty, says investment chief.
The fund manager remains positive on the outlook for gold and believes ongoing market volatility will provide opportunities to acquire small-cap stocks in promising sectors.
T. Rowe Price Group VP said investment strategies must adapt to an ageing population, as Australians outlive their retirement savings.
The international asset manager expects AI will reach a point in the near future where it can autonomously manage investments within certain parameters set by fund managers.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
