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Tasplan adjusts infrastructure exposure
Tasmanian-based industry fund Tasplan has made an adjustment to its investment strategy, responding to concerns by its investment consultant Mercer that it is overweight Australian equities.
Tasplan investment manager Mark Williams said the fund had launched notice with AMP that it would be diversifying out of the AMP Infrastructure Equity Fund. The super fund has begun its search for a global infrastructure manager.
"Mercer will provide a recommendation at the next board meeting for a manager. They've narrowed it down to a short-list of managers based on their research, and then we'll select a manager based on that," Williams said.
Tasplan will remain invested in the IFM Australian Infrastructure Fund, which is concentrated in Pacific Hydro, he added.
AAS will continue to provide Tasplan with administration services, after a new five-year contract was signed effective 1 April 2011, according to Tasplan chief executive Neil Cassidy.
When it came to member engagement, Cassidy said Tasplan's social media strategy was "well ahead of everyone else in the industry".
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