Fidelity International has picked up a $150 million Australian equities mandate from State Super Financial Services.
Fidelity head of Australian equities Paul Taylor will manage the mandate, which has an inception date of September 1.
Fidelity managing director Michael Ohlsson said the mandate underlined Fidelity’s commitment to growing its presence in the institutional market.
Dan Farmer, chief investment officer of MLC Asset Management, has detailed how its super fund allocations have evolved and whether the fund will consider investing in bitcoin.
Australia’s superannuation capital has been positioned to play a larger role in south-east Asia’s economic development under a new government-backed deal.
Superannuation funds have become the dominant force behind Australia’s private markets boom, fuelling unprecedented growth and reshaping manager operations.
Reserve Bank governor Michele Bullock has said the central bank sees private demand picking up over the next year, taking over from public demand.