The $4 billion Vision Super has chosen an asset consulting provider after putting its existing contract with Frontier Investment Consulting out to market.

After reviewing other providers, such as JANA Investment Advisers and Watson Wyatt, the Victorian local government fund decided to continue its long association with Frontier.

The principal consultant for Vision is the deputy managing director of Frontier, Kristian Fok.

Tony Tuohey, trustee director at Vision, said the outcome was a collective decision and the board was satisfied with Frontier’s performance.

Two of Vision’s balanced investment options generated the highest annual returns in their class for the 2007-08 financial year, according to industry research provider SuperRatings. The balanced growth option returned -1.70 per cent against the SuperRatings median score of -6.39 per cent and the balanced conservative option registered 0.84 per cent against the median -3.9 per cent.

Tuohey said the fund’s asset allocation was substantially underweight both international and domestic equities in favour of unlisted assets – particularly private equity and infrastructure.