Catholic Super has terminated an international equities mandate with Barclays Global Investors (BGI) in favour of three boutique managers.
Roughly $120 million managed by BGI has been split evenly between three offshore boutiques: Pzena Investment Management, a value manager based in New York; Generation Investment Management, a growth manger based in London; and Taube Hodson Stonex, a thematic, core-growth manager also from London. Bill Currey, investment officer at Catholic Super, said that there had been a trend towards boutique managers at the fund. “BGI haven’t done too badly, but we tend to prefer smaller boutiques to large firms,” he said. “[By investing with boutiques,] we are hoping to get better performance, despite the fact they may be a bit more expensive.” The funds are to manage international equities, and possibly some cash holdings, Currey said.
While the energy transition and critical minerals are receiving a lot of attention as important megatrends, an Investment Magazine roundtable, hosted in partnership with New Forests, has heard that natural capital is an equally crucial piece of the nature puzzle but is "underrepresented, underinvested and generally misunderstood".
Hosted by Simon HoyleDecember 6, 2024
