POWERED BY MOMENTUM MEDIA
HESTA plans to internally manage 15% of $68b fund
HESTA has announced it will bring its active Australian equities investment management team in-house as part of a move to internalise its investments.
Over the next two years, the $68 billion fund said it hoped to have half of its active Australian equities managed in-house and had appointed Steven Semczyszyn to lead the team.
Semczyszyn was general manager for growth assets and had joined HESTA in 2020 from a chief investment officer role at JCP Investment Partners.
HESTA said this would be followed by the fixed income and cash teams in due course and that it was targeting at least 15% of the total portfolio being internally managed in the short to medium term.
This was part of a ‘hybrid strategy’ combining direct investment with external asset managers.
Chief executive, Debby Blakey, said: “Our internal asset management team will help bring us even closer to capital markets, giving us greater access to cutting-edge global investment thinking. This will help us continue to deliver strong, long-term returns and ensure members’ investments are well positioned for a dynamically changing world.”
The internalisation programme had resulted in changes to the senior leadership team and it expected to make further hires in the fixed income and cash teams.
HESTA chief investment officer, Sonya Sawtell-Rickson said: “Our senior leadership structure has been carefully designed to help deliver the overall investment program and portfolio strategy and is aimed at enhancing an innovative, leading investment team, with plans to support future growth in capability and capacity”.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
Small to medium 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.
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
