AVSuper has awarded Perpetual Investments a $75 million Australian equities mandate for its concentrated equities strategy.
The strategy is a broad capitalisation Australian equities portfolio which holds a small number of stocks across a range of sectors, according to portfolio manager Paul Skamvougeras.
The public offer fund undertook a comprehensive review of its Australian equities mandates last November, which resulted in a $100 million mandate to Cooper Investors and the cessation of a mandate with AllianceBernstein.
Investa Property Group also received $50 million as older property assets were wound down, AVSuper chief executive Michelle Griffiths said.
AVSuper has $1.4 billion in funds under management and 6100 members.
