State Street wins $10 billion in QSuper mandates
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State Street Global Advisors has been awarded three passive equity mandates by QSuper with a total value of around $10 billion.
The Australian Equities Index mandate, International Equities Index mandate and Global Real Estate Investment Trust (REIT) Index mandate all include a tax-aware component, according to State Street.
The deal reflects growing interest among superannuation funds in tax-aware mandates, while there has also been a strong market trend towards passive equities, according to State Street’s senior managing director in Australia, Rob Goodlad.
“Passive management has become a highly specialised skill and there are now a range of advanced beta strategies designed to capture unique returns, diversify portfolios or express specific investment views that aren’t achievable simply by tracking market capitalisation weighted indices,” Goodlad said.
An increase in State Street’s assets under management over the past year was mostly due to additional mandates, which could be partially attributed to the reliability of passive management in volatile markets, he added.
AUTHOR
Mike Taylor
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