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
Ryan Riedler, head of ASX core strategy, Australian equities at Cbus, says the fund will look to generate alpha locally through engagement and that internalisation will help it strengthen its connection with other market participants, as well as its brokers and service providers.
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