TWUSuper has awarded $210 million in new mandates as part of changes to its strategic asset allocation approved late last year.
TWUSuper chief investment officer, Andrew Kellen said the new mandates, made as part of a decision to make allocations to both new asset sectors and alternative investment strategies, involved Calibre Capital ($25 million) and AMP Capital Select Property Portfolio ($25 million) in Opportunistic Property, Russell Investment Group ($50 million) in Global REITs, Warakirri Absolute Return Fund ($50 million) and Welling Management Company ($60 million) in a Global Total Return Cash Portfolio.
Killen said that the new mandates were likely to be just the beginning of a number of changes to be implemented over the course of this year.
“With the investment review approving the use of new asset classes and alternative investment strategies, we are working with Mercer to identify the best managers available as we implement the new strategic asset allocation,” he said.
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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