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 SERF and SRF have since withdrawn mandates with the CFS small caps fund, and in August placed the money with Kosmos.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.
2 September 2008 00:00
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Investments
Ian Patrick, chief investment officer of the $370 billion Australian Retirement Trust, says that integrated balance sheet management will “beyond a shadow of a doubt” become a more prominent feature in the superannuation industry as funds grapple with the compounding effects of their growing size, systemic importance and the liquidity needs of servicing a larger cohort of retirees.
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