UniSuper has this week announced the outcome of its review of Australian shares investment arrangement, naming four new Australian shares managers.
The big superannuation fund announced the four new managers as being ABN AMRO Asset Management, Constellation Capital Management Limited, Concord Capital Limited and Herschel Asset Management Limited.
The new appointments sees the removal of UBS Global Asset Management and Alpha Investment Management.
Commenting on the appointments, UniSuper’s Chief Executive Ann Byrne said they were consistent with diversifying the fund’s Australian shares investment structure.
She said it would allow the fund managers to invest on their convictions without excessive volatility in the fund’s total returns.
“We expect the combination of diversity and conviction to result in the best possible investment outcomes for members,” she said.
UniSuper’s total allocation to Australian shares is worth $5.2 billion, or around 41 per cent of total assets.
The transition to the new managers was managed by UniSuper’s Investment Department and executed by State Street and Trust Company.
