GESB issues new mandates
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| Sharon Hicks
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West-Australian fund GESB has rearranged its international equities mandates.
The fund announced this week it had appointed Fidelity, Edinburgh Partners and Sarasin & Partners to help manage the $2.5 billion international equities portfolio.
The fund said it had issued the mandates following a review of its external managers and was now focused on ensuring a diversified mix of styles and processes.
Commenting on the move, GESB chief investment officer Sharon Hicks said each of the new managers brought different style characteristics.
“This diversity will afford us the flexibility to optimise our style exposures, ensuring we can remain responsive to the market and deliver sound investment returns over the long term for our members,” she said.
Hicks said the mandates brought the fund’s total number of international equities managers to eight with GMO, Lazard, Genesis Investment Management, Newton Investment Management and State Street Global Advisors already on the roster.
AUTHOR
Mike Taylor
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