TWUSuper has awarded $210 million in new mandates as part of changes to its strategic asset allocation approved late last year.
TWUSuper chief investment officer, Andrew Kellen said the new mandates, made as part of a decision to make allocations to both new asset sectors and alternative investment strategies, involved Calibre Capital ($25 million) and AMP Capital Select Property Portfolio ($25 million) in Opportunistic Property, Russell Investment Group ($50 million) in Global REITs, Warakirri Absolute Return Fund ($50 million) and Welling Management Company ($60 million) in a Global Total Return Cash Portfolio.
Killen said that the new mandates were likely to be just the beginning of a number of changes to be implemented over the course of this year.
“With the investment review approving the use of new asset classes and alternative investment strategies, we are working with Mercer to identify the best managers available as we implement the new strategic asset allocation,” he said.
