The Queensland Investment Corporation (QIC) global fixed interest team has secured $2 billion worth of new mandates in the past two years, sourced primarily from institutional clients based in NSW and Victoria.
Two NSW-based superannuation funds, Local Government Super and Energy Industry Super, were among the 30 funds who recently apportioned 40 wholesale mandates to QIC’s global fixed income division. The money was for cash-enhanced, global fixed interest alpha and Australian fixed interest core plus funds mandates. A spokesperson for QIC said the $50 billion manager had seen an increasing amount of interest in its cash-plus vehicles. “If you can add alpha on that, it’s attractive,” the spokesperson said. QIC’s global fixed income team has grown to 20 people, up from 13 in late 2005. The latest edition to the team is Beverly Morris, formerly QIC’s chief economist, who moved into the global fixed interest team in May, taking a position within the macro division as senior macro-strategist.
17 July 2007 00:00
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