VicSuper rejigs Australian equities mandates
VicSuper has awarded almost $1 billion in mandates to five Australian equities managers.
AllianceBernstein, Perpetual, Tribeca Investment Partners and SG Hiscock were awarded $165 million each while Vinva received $330 million.
The super fund said the appointments were part of a strategic investment review that had been underway for 18 months and resulted in drawdowns from its BlackRock and SSgA investments.
VicSuper targeted highly active benchmark unaware managers to populate its satellites, which hold approximately 40 per cent of its Australian equities.
"We're pleased to add the expertise and diversity of this range of managers in order to further strengthen fund performance and achieve the best possible outcome for our members," said VicSuper's chief investment officer Oscar Fabian.
"Also, in line with our commitment to sustainability, all of the newly appointed managers integrate environmental, social and governance (ESG) factors into their investment process."
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