Queensland’s superannuation fund, LGIAsuper, has awarded Brandywine Global, an affiliate of Legg Mason, a $100 million emerging market debt mandate.
The funds would be invested via the Brandywine Global Sovereign Credit fund, which was first launched in 2012, and invests in bonds with high real yield.
The fund is measured against the Barclays Capital 60/40 Sovereign Credit Index and looks beyond short-term, conventional thinking to rigorously pursue long-term value, the firm said.
According to director of institutional business for Legg Mason, Colin Taylor, the fund managed to achieve results for investors by focussing on assets that were mispriced and trading significantly below measures of fair value.
“Brandywine Global also benefits by identifying investments that its macro research suggests could face positive information surprises,” he added.
“At LGIAsuper we are always looking for new ways to benefit our members and the mandate with Brandywine provides us a new opportunity to do this,” LGIAsuper chief executive, Kate Farrar, said.
“We are excited to see the benefits that this partnership with Brandywine Global will bring.”
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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