The $1.95 billion TWU Super Fund has decided to appoint both of the global tactical asset allocation (TAA) managers it had shortlisted after beauty parades last month.
Mellon Capital has been assigned $35 million and Barclays Global Investors (BGI) $25 million, after asset consultant Mercer advised TWU Super’s investment committee to spread global TAA’s high risk across two managers. TWU Super chief investment officer, Andrew Killen, said both managers targeted annual outperformance of 15 per cent above cash. He said the main diffferences between the two global TAA trusts was that Mellon’s had a more concise range of bets, while BGI’s included exposure to commodities.
As super fund CIOs return to work for 2025, all eyes are on two things: Donald Trump’s presidency, and inflation. But they’re not the only issues that will drive investment decisions and returns, and some of them may present an unfamiliar set of challenges for a cohort of investment professionals that has grown up experiencing a particular set of market and economic conditions.
Simon HoyleJanuary 7, 2025
