POWERED BY MOMENTUM MEDIA
Energy Super takes power back in international mandate shuffle
Energy Super has taken direct control of its international equities portfolio, after reallocating $700 million in mandates to four new managers and away from AMP Capital.
AMP Capital will continue to manage its socially responsible investments portfolio while Harding Loevner, Longview Partners, Sands Capital Management and Schroders will step in to take over management of its international equities.
Schroders already had a hand in the $4.6 billion industry funds' foreign stock holdings as a manager under AMP Capital.
The appointment will provide direct mandate and control, lower fees and more diversification, the fund said.
According to Energy Super chief executive Robyn Petrou, the fund has reached a scale where it was appropriate to take ownership of direct mandates.
"This is because this has the potential to deliver better control over the investment strategy, cost savings and after-tax outcomes, while still keeping the style and asset allocation required," she said.
"At the most fundamental level, Energy Super seeks to work with experienced, cost-effective and prudent investment managers who can help us maximise returns to members."
The fund has 49,000 members across Australia.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
