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Nikko wins TWU Super mandate
Fund manager Nikko Asset Management has won a key mandate from industry fund, TWUSuper.
The fund manager confirmed this week it had been awarded a mandate for its long-running Australian Equities Comparative Value Analysis strategy.
Confirming the mandate, TWU Super chief investment officer, Andrew Killen said the fund's board had been impressed by Nikko AM's team which had been consistent in delivering excess returns over a long period of time.
Nikko AM's head of equities, Brad Potter said the company was delighted to have received the mandate and recognized the competitive nature of the Australian market.
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Despite tariff challenges and a weaker US dollar, the investment manager remains optimistic that Asian markets, both big and small, stand to benefit.
The uncertainty surrounding US trade policy is weighing down global growth prospects, KPMG warns.
The US and Europe trade deal represents a significant step forward in resolving trade conflict, but markets have largely priced in the good news already, says the asset manager.
The Australian sharemarket is back to overvalued following the sharp rally since April, but many sectors still offer attractive stocks, according to the research firm.
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