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.
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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