Perpetual Investments has been awarded a $300 million mandate by State Super Financial Services to manage part of its enhanced cash portfolio.
Perpetual Investments’ credit and fixed income team, headed by Michael Korber, currently manages $3.3 billion in assets across its range of enhanced cash strategies.
General manager of institutional business at Perpetual Investments Warwick Boys said the mandate served as an acknowledgement of the strength of its team.
He said it confirmed the appetite for enhanced cash offerings within institutional portfolios.
“We are delighted to have been awarded this mandate by State Super Financial Services. It shows our commitment to partnering with institutions to provide tailored solutions which will meet their objectives,” Boys said.
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
Aware Super has outlined its systematic approach to corporate engagement as institutional investors increasingly assert their influence on company boards and take on an active stewardship role.
The country’s second-largest super fund has completed its fourth SFT this past financial year and welcomes almost 5,000 new members.
The corporate fund has announced it is seeking a suitable merger partner as the number of corporate super funds in Australia continues to dwindle.
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