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AV Super re-jigs property, Australian equities
AV Super has awarded a $100 million mandate to specialist equity fund manager Cooper Investors and a further $50 million mandate to Investa Property Group.
The fund underwent a comprehensive review to re-jig some of its Australian equity allocations, resulting in the termination of a mandate with Alliance Bernstein.
Cooper Investors will manage a concentrated Australian listed securities portfolio of between 20 to 45 stocks, with a focus on ASX200 companies.
AV Super had also needed to reallocate to property as older property assets were wound down, AV Super chief executive Michelle Griffiths said.
Investa specialises in purchasing and leasing prime office space across mainly Melbourne, Sydney and Brisbane.
AV Super investment officer Scott Malpass announced the appointment of the two new fund managers.
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