The Stevedoring Employees Retirement Fund (SERF) and the Seafarers Retirement Fund (SRF) have redeemed small cap mandates with Colonial First State Global Asset Management, and placed the money with a boutique which broke away from the institution.
Tom Plodr and Anthony Vourdanos left CFS in September 2007, and announced shortly after that they would launch their own small caps boutique, Kosmos Asset Management. SERF and SRF have since withdrawn mandates with the CFS small caps fund, and in August placed the money with Kosmos. Kosmos will manage $35 million on behalf of SERF, and $9 million for SRF. Both funds also recently appointed JANA as their asset consultant, as the funds move investments into greater alignment ahead of their January 1, 2009 merger to form Maritime Super.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
