BGI wins Asset Super mandate
Barclays Global Investors (BGI) has emerged a winner in the last phases of Asset Super’s investment restructuring process.
The superannuation fund announced this week that BGI had replaced State Street Global Asset Management in handling the fund’s $120 million Australian Fixed Interest mandate.
Announcing the completion of the investment restructuring process, Asset Super chief executive John Paul said the move to BGI had been based on the manager's fixed income experience and track record.
He said the fund had also consolidated its Australian equity managers, with the Challenger portfolio totalling $50 million being redistributed amongst four existing managers — Tyndall, Quest, Integrity and Alleron.
Paul said the transition was completed in early August and reduced the total number of Australian equity managers from six to five.
“These last two transitions have completed a process which began when the trustees appointed Mercer as asset consultants in July last year,” he said.
AUTHOR
Mike Taylor
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