UniSuper is in the process of diversifying its manager mix in some of its asset classes, as it prepares to launch single asset class options for members early next year.
David St. John, UniSuper chief investment officer, said the fund was looking to add another manager in international fixed interest. Currently the fund’s $1.1 billion in international fixed interest is managed by Blackrock. UniSuper recently added Perennial Investment Partners to its Australian fixed interest line-up, splitting its $2.7 billion in that asset class between the new manager ($1.3 billion), and existing managers Macquarie Funds Management ($1.3 billion) and Super Loans Trust ($10.5 million). St. John said the fund was planning on launching six new single asset class options and an SRI balanced option. The fund’s existing seven investment options are cash, capital stable, conservative balanced, balanced, growth, socially responsible shares and shares.
19/09/2006
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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