Large Queensland fund QSuper has handed the QIC Global Fixed Interest (GFI) fund a US$100 million mandate.
The mandate was confirmed by QIC this week, with the managing director of the fixed interest boutique, Susan Buckley, saying it reflected the strong relationship that existed with QSuper.
“It is another sign of confidence in a fund that is recognised as one of the most innovative of its type,” she said.
QSuper chief investment officer Brad Holzberger said while his fund’s investment program had changed, it still had a strong belief in alpha streams, which had proven to be uncorrelated to beta and had added value regardless of market direction.
“GFI’s active strategies are one of the high conviction strategies QSuper has actively sought to maintain,” he said. “By restructuring our existing mandate to allocate capital to the GFI Alpha Fund, it allows us to package up fixed income alpha streams into an investment vehicle with a strong track record.”
