ING Investment Management Australia has been appointed to manage the Government Service Insurance System (GSIS) of the Philippines’ first allocation to global assets.
The GSIS provides and administers a range of social security benefits for government employees and administers the Philippines General Insurance Fund. Though the size of the mandate is yet to be finalised, ING IM and another global manager will share in a $US1 billion global investment, being made by the GSIS. ING IM Australia’s mandate is to provide a long-term, multi-asset strategy that will involve the investment capabilities of the wider ING IM group. The account will be run from Sydney by the team under ING IM Australia chief executive officer, David McClatchy. He said ING IM had experienced a significant increase in demand for tailored solutions from Asian clients.
There is one investment area where Insignia’s $180 billion super arm has not lost money for the past 17 years, which is what it calls the insurance-related investments. The alternatives strategy is gaining popularity among asset owners due to its diversification benefit, but Insignia’s super and asset management investment chief Dan Farmer warns it is a space where investors can suffer if they “stumble in without doing the homework”.
Darcy SongJanuary 23, 2025
