Big property industry fund Rei Super has opted to continue its long-standing relationship with Intech Investment Consultants by reappointing the firm for another three years.
The renewal of the $650 million mandate was confirmed yesterday, with Rei chief executive Mal Smith commenting that the recent acquisition of Intech by Skandia would add to the firm’s strong investment capabilities and provide a wider suite of products.
The renewal of the mandate comes after an extensive due diligence process undertaken by Rei Super and continues a six-year relationship between the fund and Intech.
The sovereign wealth fund grew $11.5 billion in the March quarter, according to its latest portfolio update, having previously voiced caution about inflation’s downward trajectory.
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.
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