HESTA has re-worked a significant portion of its international equities portfolio, awarding $300 million in mandates to three global long/short equities managers.
The managers are: Acadian, which won a $110 million mandate, and AXA Rosenberg and AQR, which both won $95 million mandates. The managers have been appointed with the expectation that they outperform the benchmark by 5 per cent and thus drive “;HESTA’s strong growth in assets”;, HESTA investments and governance manager, Robert Fowler, said. The mandates represent 10 per cent of the fund’s international equities allocation. HESTA now holds $12 billion in funds under management, up from $9.8 billion at the beginning of the financial year.
20 March 2007 00:00
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Investments
Asset owners are right to be concerned about private credit fund suspensions and redemption queues, Blue Owl head of alternative credit Ivan Zinn told the Investment Magazine Fiduciary Investors Symposium, but he thinks that two years from now they’ll be looked back on as nothing more than a “speed bump” on a highway of growth and strong returns.
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