AVSuper appoints new investment managers
AVSuper's investment committee has appointed two new investment managers following a comprehensive review and due diligence.
Investment management company Martin Currie has been added to the fund's investment portfolio to manage a portion of AVSuper's emerging markets equities portfolio, while GMO will manage a portion of its defensive alternatives portfolio via the GMO Multi-Strategy Trust.
AVSuper investment committee officer Scott Malpass said Martin Currie's investment philosophy included a belief that market inefficiencies could be manipulated to maximise risk-adjusted returns.
"They provide a high-conviction, stock-focused portfolio driven by fundamental research," he said.
He said GMO targeted performance of UBS Australia Bank Bill Index plus 8 per cent with a standard deviation of 5 per cent.
"The Trust uses numerous underlying excess market (alpha) generating sources and seeks to achieve its investment objective with low volatility and correlation to traditional market indices," he said.
In February AVSuper awarded a $75 million mandate to Perpetual to manage a portion of its Australian equities portfolio.
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