First State Super has awarded Neuberger Berman a $1.6 billion mandate to provide non-market risk premia in emerging market equities with controlled cost.
First State Super said it may eventually move the portfolio in-house alongside other strategies managed internally.
Neuberger Berman Australia joint managing director, Lucas Rooney, said: "First State Super liked our approach to factor based equity investing, which shows low correlation to competitors."
"Research projects in areas where we have strong expertise, that go on to form part of clients' portfolios, are not uncommon for NB, as is helping clients who are building out internal capability," he said.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
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