Colonial First State Global Asset Management wins $500m mandate

Colonial First State Global Asset Management (CFSGAM) has secured global mandates of more than US$500 million after being included on Russell Investments' Global Listed Infrastructure multi-manager platform.

The mandates which stretch across Australia, Canada and the United States represent the team's first North American win and the first win for CFSGAM Australia since obtaining its Securities and Exchange Commission (SEC) licence in January 2012, said CFSGAM managing director Americas, James Twiss.

Twiss said the deal, which came after 18 months of due diligence by Russell Investments, would position the team for strong growth in 2013.

"Since June 2011 we have held Russell's highest rating for our Global Listed Infrastructure Fund. 

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"The strength of our capability, highly experienced team and rigour of our security-selection process played a key role in Russell's decision to appoint us," he said.

CFSGAM head of global listed infrastructure Peter Meany said that the volatile and uncertain nature of markets post-2007 had given the team the opportunity to showcase the asset class's defensive nature, as well as the team's disciplined investment process and skills as active managers. 

He said the fund had seen increasing demand from investors wanting to go back into equity markets without adding significant risk.

"The outlook for global listed infrastructure remains positive. 

"The sector offers structural growth, real income and lower volatility," he said.