One of Australia’s largest corporate superannuation funds, Telstra Super, has handed a $50 million Asian market equity mandate to Treasury Asia Asset Management.
The mandate, announced late last month, will see Treasury Asia Asset Management adopt its active management approach to Asia-Pacific equity portfolios.
Confirming the mandate, the managing director of Treasury Group Limited, David Cooper, said the company was pleased to have been appointed to the investment mandate.
He said the company’s approach was based on a predominantly bottom-up stock picking approach with a mid to large capitalisation bias.
While not having a strategic asset allocation might be ‘uncomfortable’ for some investors, the Future Fund believes its unique investment approach helps the fund capture long-term value ahead of the curve.
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.
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