Auscoal cuts Alliance Bernstein for two new mandates
Auscoal Super has added an investment manager to both its international shares and fixed interest portfolios, at the expense of Alliance Bernstein.
US-based global small cap company investment manager Copper Rock Capital Partners will add diversification to the international portfolio, Auscoal stated.
The Putnam Advisory Company, a large global bonds manager specialising across a range of global fixed interest securities, has been added to the fixed interest portfolio.
Auscoal chief executive Bruce Watson said he expected Copper Rock to “generate alpha through its quant/fundamental approach to security selection in the less efficient global small cap market and further diversify the international equity sector’s risks.”
The Putnam appointment was the result of Auscoal looking for a high quality manager with the skills to rotate through the various sectors of the global bond market, Watson added.
“The depth of Putnam’s team and their expertise in securitised loans was particularly attractive to Auscoal Super,” Watson said.
The funds for the new investments were sourced from a combination of redeeming an existing mandate with Alliance Bernstein, asset allocation rebalancing and cash inflows, the fund stated.
Recommended for you
Dan Farmer, chief investment officer of MLC Asset Management, has detailed how its super fund allocations have evolved and whether the fund will consider investing in bitcoin.
Australia’s superannuation capital has been positioned to play a larger role in south-east Asia’s economic development under a new government-backed deal.
Superannuation funds have become the dominant force behind Australia’s private markets boom, fuelling unprecedented growth and reshaping manager operations.
Reserve Bank governor Michele Bullock has said the central bank sees private demand picking up over the next year, taking over from public demand.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
121.06 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Smarter Money Long-Short Credit Investor USD
68.96 3 y p.a(%)
