Global asset manager, AllianceBernstein (AB) has been awarded a $140 million mandate by superannuation fund Prime Super to manage a short-duration global credit portfolio.
The portfolio aims to protect the fund's members' fixed income allocations in an uncertain global interest-rate environment.
Commenting, Prime Super chief executive, Lachlan Baird said "we are looking for a degree of protection from this uncertainty by investing in a portfolio of traditional fixed-income assets with the relatively little duration, or exposure to interest-rate risk, but which has at the same time the potential for returns through a modest exposure to credit".
AB chief investment officer for global credit, Ashish Shah, said the portfolio offers conservative interest-rate risks similar to bank deposits with a more diversified credit risk profile, and high potential return thanks to investment in corporate bonds.
The $170 billion fund has announced an internal promotion to the newly created role.
Blue Owl Capital, a US asset manager with its eye on ‘marquee investors’ like super funds, has announced the appointment of a senior Future Fund executive as its newest managing director.
The Association of Superannuation Funds of Australia has appointed a new director representing industry funds, among a number of other appointments in recent months.
The Association of Superannuation Funds of Australia has tapped an experienced public policy executive as head of policy and advocacy.
Add new comment